Consider the following data for India: GDP deflator, 2019 (base year: 2011): 138.8 GDP deflator, 2018...

Consider the following data for India: GDP deflator, 2019 (base year: 2011): 138.8 GDP deflator, 2018 (base year: 2011): 135.7 GDP, 2019 (current prices): 203,848 billion rupees GDP, 2018 (current prices): 189,712 billion rupees Labor Force, 2019 (millions of people): 494.3 Employment, 2019 (millions of people): 467.8 Interest rate (91-day Treasury yield, annual interest rate, 2019): 5.32% Calculate: (a) the inflation rate for 2019; (b) the real GDP growth rate for 2019; (c) the unemployment rate for 2019; (d) the real interest rate for 2019.

Expert Solution

Rahul Sunny answered 2 years ago

Consider the following data on Canadian GDP” Year Nominal GDP (billions) GDP Deflator (base year: 2002)...

Consider the following data on Canadian GDP” Year Nominal GDP (billions) GDP Deflator (base year: 2002) 2009 $1600 118 2008 $1520 121 What was the growth rate of nominal GDP between 2008 and 2009? (The growth rate is the percentage change from one period to the next). What was the growth rate of the GDP deflator between 2008 and 2009? What was real GDP in 2008 measured in 2002 prices? What was real GDP in 2009 measured in 2002 prices?...

Consider the following data on U.S. GDP: Year Nominal GDP GDP Deflator (Billions of dollars) (Base...

Consider the following data on U.S. GDP: Year Nominal GDP GDP Deflator (Billions of dollars) (Base year 2009) 2017 19,485 107.95 1997 8,578 74.45 The growth rate of nominal GDP between 1997 and 2017 was _______, and the growth rate of the GDP deflator between 1997 and 2017 was ______. (Hint: The growth rate of a variable XX over an NN-year period is calculated as 100×((XfinalXinitial)(1N)−1)100×XfinalXinitial1N−1) Measured in 2009 prices, real GDP was ______billion in 1997 and ______billion in 2017....

Consider the following data, answer the question below: Year Nominal GDP GDP Deflator (Base year =...

Consider the following data, answer the question below: Year Nominal GDP GDP Deflator (Base year = 2010) 2012 646 104 2013 662 107 Calculate Real GDP in 2012 2) Given the data below calculate Nominal GDP, Real GDP, and the GDP Deflator using 2010 as the base year. Year Price of Ford Mustang Quantity of Mustangs Sold Price of Mountain Bike Quantity of Mountain Bikes sold 2010 $31,000 6000 $325 200 2011 $33,000 6300 $350 225 2012 $30,000 5500 $365...

nominal GDP for 2019- $900,000 GDP deflator for 2019- 138 what is the real GDP for...

nominal GDP for 2019- $900,000 GDP deflator for 2019- 138 what is the real GDP for 2019?

What is the GDP deflator in year 1?

YearQuantity xPrice xQuantity yPrice yPopulationEmployedUnemployedNot LookingCPI140,000$455,000$121,9251,57553263118241,500$4.3056,100$12.252,0301,62870289123341,200$4.5056,000$12.402,1881,750114298125What is the GDP deflator in year 1?Calculate the real GDP growth rate between years 2 and 3.What is real GDP per capita in year 3?What is the unemployment rate in year 2?What is the labor force participation rate in year 1?What is the inflation rate, as measured by the CPI between years 1 and 2?

Year Nominal GDP Economic Growth Workers GDP Deflator Capital Population CPI M1 Inflation (with GDP Deflator)...

Year Nominal GDP Economic Growth Workers GDP Deflator Capital Population CPI M1 Inflation (with GDP Deflator) 2019 $22,000,000 2.10% 100 110 20,000,000 200 300 $4,000,000 1.10% 2069 $384,000,000 2.80% 150 320 60,000,000 300 1200 $40,000,000 2.90% From the numbers in the table, and your last question, what led to the increase in real per capital GDP between 2019 and 2069. Was it an increase in the fraction of the population working, growth in labor productivity, or a combination of both...

In 2019, the annual inflation rate in the U.S. based on the GDP deflator was 1.8%,...

In 2019, the annual inflation rate in the U.S. based on the GDP deflator was 1.8%, while the inflation rate based on Personal Consumption Expenditures (PCE) deflator was 1.5%. Provide two possible explanations for this difference between the inflation rates calculated from the GDP deflator vs the PCE deflator?

a) Obtain the value of nominal GDP and real GDP in 2018 and 2019 for this...

a) Obtain the value of nominal GDP and real GDP in 2018 and 2019 for this economy. Good 2018 2018 2019 2019 P18 Q18 P19 Q19 Food $1 100 $1 150 Clothing $5 200 $1 200 Household items $10 50 $3 60 Health Care $40 20 $20 30 b) Explain why looking just at the evolution of nominal GDP would make an analyst erroneously conclude that this economy has gone through a severe crisis/recession in 2015

The GDP deflator for this year is calculated by dividing the ___ using _ by the _____ using and multiplying by 100

2. Alternative price indexes Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how prices fluctuate in the economy. Two of the most commonly used price indexes are the consumer price index (CPI) and the GDP deflator. The GDP deflator for this year is calculated by dividing the _______ using _______ by the _______ using and multiplying by 100. However, the CPI reflects only the prices of...

1) Which of the following are included in the CPI, but not the GDP deflator? Select...

1) Which of the following are included in the CPI, but not the GDP deflator? Select one: a. None of the other answers. b. A truck produced in the U.S. and sold at a dealership in California. c. A desk produced in California and sold to a UCSB student. d. Belgian chocolates that are bought by a UCSB student. 2) Chaz has $20 and lives in a city where the average cost of consumption is $10, while Aly has $10...

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