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?

Expert Solution

Rahul Sunny answered 1 year ago

Complete the table. Round your calculations for nominal GDP, real GDP, and GDP deflator values to...

Complete the table. Round your calculations for nominal GDP, real GDP, and GDP deflator values to two decimals and rate calculations to three decimals. Year Nominal GDP Real GDP GDP Deflator Inflation Rate 1 1760.00 90.01 2 2000.00 0.111 3 2300.00 105.60 4 2410.00 2222.22 5 2327.44 112.57

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

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...

What is real GDP as opposed to nominal GDP? Is GDP a good measure of the...

What is real GDP as opposed to nominal GDP? Is GDP a good measure of the well-being of a country?.

What is the difference between Nominal GDP and Real GDP? How can the ratio of Nominal...

What is the difference between Nominal GDP and Real GDP? How can the ratio of Nominal to Real GDP indicate how much inflation an economy has been experiencing?

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...

What is GDP? What is the difference between the nominal GDP and real GDP? Explain why...

What is GDP? What is the difference between the nominal GDP and real GDP? Explain why comparing the GDP’s of various nations might not tell you which nation’s people are better off.

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....

Assume that in 2018 the nominal GDP was $8,000 billion and in 2019 the nominal GDP...

Assume that in 2018 the nominal GDP was $8,000 billion and in 2019 the nominal GDP was $8,500 billion. Based on this information can we make any meaningful comparison of the economy’s performance? Would the value of automobile production in 2019 in the U.S. by a Korean auto company be counted in the U.S.’s GDP for the Year 2019? Briefly explain. If you purchased $10,000 of Google stock in 2019, would that purchase be included in GDP statistics for 2019?...

if prices rise and quantity remains constant, then real GDP and GDP deflator will increase but...

if prices rise and quantity remains constant, then real GDP and GDP deflator will increase but nominal GDP will remain Constant. Give reasons in support of your answer. (need 500-600 words with figure if possible)

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