Fill in the missing values in the table below. Instructions: Round your answers to 1 decimal place. Year 1 2 3 4 5 6 Nominal GDP (Billions) 15,364.4 16,555.3 17,793.1 18,436.6 Real GDP (Billions) 15,420.6 15,754.7 16,012.2 16,382.2 Price Index (Year 0 = 100) 102.0 104.1 107.7 110.8
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- Using the table below, determine the growth in real GDP from 1990 to 2005. Round your answer to the nearest whole percent. Year 1960 1975 1990 2005 Nominal GDP (billions of dollars) 543.3 1688.9 5979.6 13095.4 Real GDP (billions of 2005 dollars) 2859.5 4952.8 8225 13095.4Consider the data in the table Rank the years from hightest to lowest in terms of real GDP Year Nominal GDP GDP deflator Real GDP 2009 $1020 57 2010 $1250 62 2011 $1450 91Consider a Melanesian island nation in the South Pacific, which had a population of 0.88 million in 2010. The table below presents the nominal GDP and the GDP deflator (based on 2005 being the base year) for the years 2010, 2015 and 2020.YearNominal GDP ($millions)GDP Deflator201017500103.7201518222104.8202018755105.9Over each 5-year period, there were no significant changes to goverment policies or capital investment, and the country experienced a net migration of 0%. However, over the first five years (2010 to 2015), the growth rate of births was 12.5% while the growth rate of deaths was 7.5%. This resulted in a 5% population growth. Over the second five years (2015 to 2020), health care significantly improved such that the growth rate of births increased to 15% while the growth rate of deaths decreased to 5%. In 2010 employment population ratio is 64%. What is the real GDP per worker in 2010.
- Using the following information for a U.S. state: Nominal GDP (millions) 1,151,119 1,879,520 2,350,807 3,701,354 Real GDP (millions 2009 $'s) 1,421,713 1,975,457 2,143,167 2,885,627 Population 32,987,911 36,020,878 38,792,459 39,029,342 Year 1998 2006 2014 2022 Note: time periods of interest are 1998-2006 & 2006-2014 a What is the average annual growth rate for this state during the time periods listed. b. What is the average annual inflation rate for this state during the time periods listed? c. To what extent are living standards likely changing in this economy? Explain and support your claim using data from the table above.Use the data on U.S. real GDP below to compute real GDP per person for each year. Then use these numbers to compute the percentage increase in real GDP per person from 1993 to 2012. Year Real GDP (2009 prices) Population 1993 $9,510,800 million 257.8 million 2012 $15,470,700 million 313.85 millionQuestion # 5 a: Calculate Nominal and Real GDP for each year. Consider the base year is 2013. YearBottles of Diet Coke (units)Price by Bottle in Rs 2013100,00010.25 2014400,00030.50 2015500,00030.75 2016800,00040.25 b: Analyze how much Pakistan’s GDP and each of its components is affected by the following transactions? Explain your answers (Maximum 200 words). i) Toyota Motors issues new shares to finance the construction of an automobile plant in Pakistan.ii) Your friend wins Rs.2 million in the lottery in Dubai iii) Rabia spends Rs.1500 to buy her husband dinner at the finest restaurant in Karachiiv) General Motors builds Rs.40 million worth of cars, but consumers only buy Rs. 38 million worth of them.v) Sadia spends 50000 on a computer to use in her editing business in Karachi. She got last year’s model on sale for a great price from a local manufacturer. (Sub parts to solved).
- Given the statistics in the table below, which of the following statements is true? Bangaladesh GDP per person (2010 constant U.S. dollars) $1002.39 $1062.04 $1127.27 $1203.22 Year 2015 2016 2017 2018 Kenya GDP per person (2010 constant U.S. dollars) $1093.13 $1129.71 $1157.05 $1202.13 From 2015 to 2018, Kenya's standard of living always exceeded Bangladesh's standard of living. By the year 2018, Bangladesh had caught up with Kenya in terms of standard of living. From 2015 to 2018, Kenya's economic growth always exceeded Bangladesh's economic growth. From 2015 to 2018, Kenya's economic growth rate was always negative.Question Using the table below, calculate real GDP (in billions of dollars) in 2006. Round your answer to the nearest tenth. Year 2002 2003 2004 2005 2006 Provide your answer below: Nominal GDP (in billions of dollars) 8, 309.8 9, 890.9 10, 302.9 10, 856.8 11, 200.8 GDP Deflator (2005=100) 83.3 87.6 94.5 100 106GDP deflator = (Nominal GDP/Real GDP) x 100 Nominal GDP = Current Price x Current QuantityNominal GDP (2020) = 10 x 4,000 + 30 x 1,000 = 40,000+30,000 = 70,000Nominal GDP (2021) = 12 x 6,000 + 50 x 1,200 = 72,000 + 60,000 = 132,000 Real GDP = Base year price x Current QuantityReal GDP (2020) = 10 x 4,000 + 30 x 1,000 = 40,000 + 30,000 = 70,000Real GDP (2021) = 1..
- No written by hand solution The table below shows national data for the economy of Westfall. Round your intermediate calculations to one decimal place. Enter your responses rounded to one decimal place with the exception of Real GDP per capita that can be entered as a whole number. a. Fill in the blanks in the table below. 201820192020Nominal GDP (in billions)$650$730$ GDP deflator (2010 = 100)112 121Real GDP (in billions)$ $617$ Population (in millions)44 45Real GDP per capita$ $13,854$14,349 b. The inflation rate in 2019 is %. c. The growth rate of real GDP per capita in the year 2020 is %.Exhibit 11-6Use the table below to answer the following question(s). Nominal GDP GDP Year (billions) deflator Year 1 500 100.0 Year 2 1,000 145.5 What is real GDP in year 2 (use year 1 as the base year)?10. The (real) GDP per capita in Belgium (in €) is provided for several years in the table below: year GDP 2010 33 509.07 2011 33 641.30 2012 33 443.71 2013 33 259.76 2014 33 728.14 2015 34 028.24 2016 34 209.76 a. Let us denote GDP in year t by Yt. Determine the percentage change for each year using the formula rt = Y-Y-1. Compare the results to the log-returns In (). 1 b. You are also given that Y1990 = 25 039.06. Again compare the percentage change over the period 1990-2016 with the corresponding log-return. There are several reasons why percentage changes are often approximated by log-returns. One of the reasons is that the logarithm has nice mathematical properties. For example: log-returns allow for easier time aggregation as is illustrated in parts c. and d. below. c. Show that the percentage change Y2016-Y2013 over the three-year period from 2013 to 2016 equals (1+r2016) (1+r2015)(1+r2014) - 1. d. Show that the log-return In (Y2016) for the same period is simply the sum of the…