Year Nominal GDP (in Billion Ringgit) GDP Deflator (Base Year 1987) 2005 495,239 189 2006 546, 343 197 a. What is the growth rate of nominal GDP between 2005 and 2006? (Note: the growth rate is the percentage change from one period to the next.) b. What is the growth rate of the GDP deflator between 2005 and 2006? c. What was real GDP in 2005 measured in 1987 prices?
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- Nominal GDP (billions of cunent $) GDP defatar Population growth 101% Date 2007 $14,0618 10630 2008 143691 10n.62 0.93% 2009 14,129.0 109.61 2010 14,660.4 0S0% Use the data in the table above to calculate the economic growth rate for the United States from 2008 to 2009. Give your answer to two decimals. Note that all data is from the end of the year specified.1. The following table shows Spain's (awalizr) quarterly real GDP growth rates for the 2007–2012 period. (Roman numbers refer to quarters.) Variable 2007 2007 2007 2007 2008 2008 I II III IV I II Real GDP 7.6 7.3 6.5 6.4 5.6 4.6 Variable 2008 2008 2009 2009 2009 2009 III IV I II III IV Real GDP 3.1 0.5 -0.1 -4.1 -4.5 -3.3 Variable 2010 2010 2010 2010 2011 2011 I II III IV I II Real GDP -1.5 -0.2 0.0 0.4 0.5 0.5 Variable 2011 2011 2012 2012 2012 2012 III IV II III IV Real GDP 0.6 0.0 -0.7 -1.4 -1.6 -1.9 а) Plot real GDP growth rate in a graph, and identify a trend in the data. b) Based on the data shown, identify the beginning (i.e., the year and the quarter) of the current recession. 2. Unemployment is a very important topic in macroeconomics. A high unemployment rate means that a lot of individuals willing to work cannot find a job. This is bad for the economy, as some resources (i.e., labour) remain idle. Comment on the effects that being unemployed have on an individual.Table 23-3 The following table reports nominal and real GDP for the U.S. from 1929 to 1932. Year 1929 1930 1931 1932 Nominal GDP (Billions of dollars) 103.6 91.2 76.5 58.7 Real GDP (Billions of dollars) 977 892.8 834.9 725.8 Refer to Table 23-3. What was the growth rate of real GDP for 1930? -9.43%. Nominal GDP is a better gauge of economic well-being than real GDP. -9.43%. Real GDP is a better gauge of economic well-being than nominal GDP. -8.62%. Nominal GDP is a better gauge of economic well-being than real GDP. -8.62%. Real GDP is a better gauge of economic well-being than nominal GDP.
- The United States gross national product in trillions of dollars for the latter half of the 1980s is given in the table below. Year 1985 1986 1987 1988 1989 GNP ($trillion) 4.02 4.23 4.52 4.88 5.20 1. Using technology, calculate the average rate of change for each year. You may, for example, make a table in a spreadsheet with Year, GNP, and Average Rate of Change, as the three columns. What are the independent and dependent variables? 2. Using technology, create a plot of GNP vs year. Does the data appear to be linear? Explain. 3. Using technology, construct a linear trendline and determine the R2 value. What is the trendline equation? Interpret the slope, including units. What is the R2 value? Is there a strong or weak correlation? 4. Using the trendline equation, create a spreadsheet table and second plot of GNP vs year, extending the data through 1995. What GNP does your trendline predict for 1993? Explain in the context of the problem. 5. In what year does the trendline predict the…Use the following composition of expenditure for the economy of a country named the Republic of Tapuwa, for the year ended 2019 to answer the questions below: Show all calculations and formulae If it is predicted that the GDP will increase to 22 000 in 2020, calculate the growth rate between 2019 and 2020.+ Real GDP (Billion of 2000 dollars) Year 2002 $8,700 2003 8,875 2004 9,000 2005 9,280 6. Refer to the table above. Calculate the growth rate of real GDP from 2004 to 2005. A) 3% B) 1% C) 2% B) 1.5% C) 1% D) 4% D) 2% 7. Refer to the table above. Calculate the average annual growth rate from 2002 to 2005. A) 3%
- Determine the GDP trend in economic growth over the period of 1989 – 1999. Country/Area Year Unit Gross Domestic Product (GDP) Thailand 1989 Baht 1,924,426,113,246 Thailand 1990 Baht 2,263,299,209,116 Thailand 1991 Baht 2,583,490,817,016 Thailand 1992 Baht 2,935,677,642,139 Thailand 1993 Baht 3,263,426,000,000 Thailand 1994 Baht 3,689,090,000,000 Thailand 1995 Baht 4,217,614,000,000 Thailand 1996 Baht 4,638,604,000,000 Thailand 1997 Baht 4,710,310,000,000 Thailand 1998 Baht 4,701,553,000,000 Thailand 1999 Baht 4,789,826,000,000 Transport, storage and communication Wholesale, retail Agriculture, hunting, forestry, fishing (ISIC A-B) Other Mining, Manufacturing, Utilities (ISIC C-E) (ISIC D) trade, restaurants Total Manufacturing Construction and hotels (ISIC G- Activities Value Country/Area Year Unit (ISIC F) H) (ISIC I) (ISIC J-P) Added Thailand 1989 Percentage 9.8 15.5 16.1 28.9 9.7 10.6 8.2 11.9 Thailand 1990 Percentage -4.7 15.1 15.6 21.9 10.9 14 13.8 11.8 Thailand 1991 Percentage…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 13095.4Year Real GDP per Capita 1985 6,000 1986 6,300 1987 6,700 1988 7,200 1989 7,850 1990 8,250 1991 8,450 1992 8,550 1993 8,575 1994 8,510 1995 8,370 1996 8,100 1997 7,950 1998 7,925 1999 7,960 2000 8,035 2001 8,155 The information above describes the real GDP per capita for a country for the period from 1985 through to 2001. I.…
- Use the chart below to calculate the growth rate in real GDP per Capita. Nominal GDP Population CPI Year 1 14,590,139 523 213 Year 2 12,204,258 525 233 Do not round until your final answer. Put your answer in percentage form (e.g. 30.57% not 0.3057) and round your final answer to 2 decimal places.Year Real GDP Nominal GDP 2019 $15,292.67 $17,081.38 2020 $17,822.90 $18,350.11 2021 $18,521.37 $19,397.19 Refer to the table above. What is the growth rate in real GDP from 2020 to 2021? Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13.Identify the difference between nominal GDP and real GDP Use numerical example or real graphs of the economy of Puerto Rico or the United States to represent What is the importance of calculating the growth rate of both concepts, how is it calculated and its interpretation regarding the economic cycle
