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- What is the contribution to 2021 U.S. GDP in the following scenario? A car company produces a vehicle in December 2020. The car's costs consists of the following: Labor: $4000 Aluminum Framing: $2500 Tires: $800 Computer: $2750 Other Parts: $2500 The car sells in February 2021 for $17,000.Suppose that nominal GDP is $10,622 billion and real GDP is $12,070 billion. What is the value of the GDP price index?If real GDP rises while nominal GDP falls, then prices on average have: risen. decreased and then been offset by an equal increase. stayed the same. fallen.
- Assume that in the year 2010, the US Nominal GDP was $15 trillion, while the GDP deflator was 200. Calculate the US Real GDP for 2010. $30 trillion $300 trillion $7.5 trillion $0.75 trillionIf the nominal GDP is $118 current price index is $112 find the real GDPIf your nominal income rose by 5.3 percent and the price level rose by 3.8 percent in some year, by what percentage would your real income (approximately) increase?
- If your nominal income in 2016 was $50,000, and prices doubled between 2016 and 2017, to have the same real income, your nominal income in 2017 must be:Nominal GDP 2018 is $24,200. What is the "real" 2018 GDP measure in 2012 prices if the 2018 price index is 1.05?For a hypothetical economy, if Nominal GDP (measured in billions of current dollars) is $5,465 and the sum of consumption, investment, and government purchases is $5,496, while exports equal $673, imports are
- The nominal GDP for an economy is $12 trillion. Real GDP is $10 trillion. What is the value of the implicit price deflatorIn Macronesia the GDP deflator for 2006 is 105 ( with 2005 being the base year). If the real GDP in 2006 equals 210 billion, the nominal GDP in 2006is equal to $200 billion. Not enough information given. $220.5 billion. $ 210Find the value of exports if net exports is $310 million and imports are $130 million
