The base year is 2012. Real GDP in 2012 was? $15 trillion. The GDP price index...

The base year is 2012. Real GDP in 2012 was? $15 trillion. The GDP price index in 2015 was? 105, and real GDP in 2015 was? $16 trillion. ?? ?? Calculate nominal GDP in 2012 and in 2015 and the percentage increase in nominal GDP from 2012 to 2015.

Nominal GDP in 2012 is ?$ _ trillion. And percentage increase in production 2012-2015 is _

Expert Solution

Rahul Sunny answered 2 years ago

Year Potential Real GDP Real GDP Price Level Federal Funds Rate 2006 $15.3 trillion $15.3 trillion...

Year Potential Real GDP Real GDP Price Level Federal Funds Rate 2006 $15.3 trillion $15.3 trillion 90.1 5.0% 2007 $15.6 trillion $15.6 trillion 92.5 5.0% 2008 $15.9 trillion $15.6 trillion 94.3 1.9% 2009 $16.1 trillion $15.2 trillion 95.0 0.2% 2010 $16.3 trillion $15.6 trillion 96.1 0.2% 2011 $16.5 trillion $15.8 trillion 98.1 0.1% 2012 $16.7 trillion $16.2 trillion 100.0 0.1% 2013 $17.0 trillion $16.5 trillion 101.6 0.1% 2014 $17.3 trillion $16.9 trillion 103.6 0.1% 2015 $17.6 trillion $17.4 trillion 104.7...

Year Quantity Price Nominal GDP Real GDP 2012$ Real GDP 2015$ 2012 1000.00 $10 $10,000 $10,000...

Year Quantity Price Nominal GDP Real GDP 2012$ Real GDP 2015$ 2012 1000.00 $10 $10,000 $10,000 $16,000 2013 1100.00 $11 $12,100 $11,000 $17,600 2014 1000.00 $13 $13,000 $10,000 $16,000 2015 1200.00 $16 $19,200 $12,000 $19,200 e. Calculate GDP deflator (using 2012$) and inflation rates for 2013, 2014, and 2015. f. Calculate GDP deflator (using 2015$) and inflation rates for 2013, 2014, and 2015.

1. In 2012 the price index was calculated at 157.6 with 2009 as the base year....

1. In 2012 the price index was calculated at 157.6 with 2009 as the base year. In 2013 the price index increased to 168.3. What was the inflation from 2008-2009? A. 6.8% B. 6.4% C. 10.7% 2. In the fictional country of Alpha-land the economics statistics department has been busy calculating the price index for a basket of goods from 2013 to 2017. January 2013 is the standardized price index, at 100, for a basket of consumer goods in the...

In a closed economy (in equilibrium), assume that real GDP is $15 trillion, government purchases are $1.3 trillion, public saving is $0.5 trillion, and national saving is $2.2 trillion.

ECO 252 - MacroeconomicsIn a closed economy (in equilibrium), assume that real GDP is $15 trillion, government purchases are $1.3 trillion, public saving is $0.5 trillion, and national saving is $2.2 trillion. Calculate the following: a. Taxesb. Consumptionc. Investmentd. Private savinge. The government budget deficit or surplus.Precise which one.

Suppose that real GDP is currently $15 trillion and the MPC is .8. How much would...

Suppose that real GDP is currently $15 trillion and the MPC is .8. How much would government have to increase spending to increase real GDP by $5 trillion? If the MPC is .7 and government decreased spending by $500 billion, what is the spending multiplier and by how much would real GDP decrease?

The money supply for the United States is approximately $15 trillion, and average real GDP growth...

The money supply for the United States is approximately $15 trillion, and average real GDP growth is three percent. If velocity decreases from zero to negative two percent, what value of U.S. Treasury Securities should the Fed buy or sell to target two percent inflation if the reserve ratio is ten percent. Report an open market purchase as a positive number, a sale as a negative number, and round to the nearest billion dollars.

A. Suppose that nominal GDP was $13 trillion in 2040 in Bedrock. In 2050, nominal GDP was $15 trillion in Bedrock.

A. Suppose that nominal GDP was $13 trillion in 2040 in Bedrock. In 2050, nominal GDP was $15 trillion in Bedrock. The price level fell 5% between 2040 and 2050, and population growth was 1%. Between 2040 and 2050 in Bedrock, nominal GDP growth was ???? % and economic growth was ????? %. Give your answers to one decimal place. B. Suppose that nominal GDP was $20 trillion in 2040 in Bedrock. In 2050, nominal GDP was $18 trillion in Bedrock....

(A) (B) (C) Price Level Real GDP Price Level Real GDP Price Level Real GDP 110...

(A) (B) (C) Price Level Real GDP Price Level Real GDP Price Level Real GDP 110 290 100 215 110 240 100 265 100 240 100 240 95 240 100 265 95 240 90 215 100 290 90 240 a. Which set of data illustrates aggregate supply in the immediate short-run in North Vaudeville? The data in (Click to select)CAB. Which set of data illustrates aggregate supply in the short run in North Vaudeville? The data in...

If the government purchases multiplier is equal to 2, and real GDP is 10 Trillion with...

If the government purchases multiplier is equal to 2, and real GDP is 10 Trillion with the potential GDP equal to $12 Trillion, the government would need to increase purchases by ______________ to close the __________gap. 1 T: inflationary 2T: recessionary 1 T: Recessionary 2T: Inflationary In the short run, Aggregate demand in a country will decrease if there is a decrease in the Tax rate in the country Money Supply Price of factors of production Level of technology

Consider the following table for the U.S. Year Potential Real GDP Real GDP Price Level Federal...

Consider the following table for the U.S. Year Potential Real GDP Real GDP Price Level Federal Funds Rate 2006 $15.3 trillion $15.3 trillion 90.1 5.0% 2007 $15.6 trillion $15.6 trillion 92.5 5.0% 2008 $15.9 trillion $15.6 trillion 94.3 1.9% 2009 $16.1 trillion $15.2 trillion 95.0 0.2% 2010 $16.3 trillion $15.6 trillion 96.1 0.2% 2011 $16.5 trillion $15.8 trillion 98.1 0.1% 2012 $16.7 trillion $16.2 trillion 100.0 0.1% 2013 $17.0 trillion $16.5 trillion 101.6 0.1% 2014 $17.3 trillion $16.9 trillion 103.6...

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