please answer the following questions in the image below based on macroeconomics to your best ability Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If thequestion prompts you to "Calculate," you must show how you arrived at your final answer.The data below are from the economies of Ishgandar and Nonburmia.IshgandarNonburmiaGDPNominalGDPNominalYearPopulationYearPopulationDeflatorGDPDeflatorGDP15100$200110100$3005125$37510110$440(a) Calculate each of the following for Year 2. Show your work.(i) Real GDP per capita for Ishgandar(ii) Real GDP per capita for Nonburmia(b) If Ishgandar and Nonburmia have the same velocity of money in Year 2, which economy must have the higher money supply in Year 2 ? Explain.(c) Calculate each of the following in Year 2. Show your work.(i) The inflation rate in Ishgandar(ii) The inflation rate in Nonburmia(d) Based on your answer to part (c), if the nominal interest rate is the same for both economies in Year 2, which economy experiences the higher real interest rate in Year 2 ? Explain.(e) Assume that in Year 1 Nonburmia is operating inside its production possibilities curve and that Nonburmia's production possibilities curve remains unchanged from Year 1 to Year 2. As a result of thechange in real GDP from Year 1 to Year 2, does Nonburmia's economy move closer to or farther away from its production possibilities curve? Explain using numbers for real GDP and state what will happento cyclical unemployment in the short run.

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The data below are from the economies of Ishgandar and Nonburmia. Ishgandar Nonburmia GDP Nominal GDP Nominal Year Population Year Population Deflator GDP Deflator GDP 1 5 100 $200 1 10 100 $300 2 5 125 $375 2 10 110 $440 a) Calculate each of the following for Year 2. Show your work. i) Real GDP per capita for Ishgandar ii) Real GDP per capita for Nonburmia

The data below are from the economies of Ishgandar and Nonburmia. Ishgandar Nonburmia GDP Nominal GDP Nominal Year Population Year Population Deflator GDP Deflator GDP 1 5 100 $200 1 10 100 $300 2 5 125 $375 2 10 110 $440 a) Calculate each of the following for Year 2. Show your work. i) Real GDP per capita for Ishgandar ii) Real GDP per capita for Nonburmia

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 6SCQ: Would an op-ed piece in a newspaper urging the adoption of a particular economic policy be a...

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