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Consider the GDP deflator and real GDP, given in thousands of dollars, for the country of Economica. Year Real GDP GDP deflator year 1 $40,983 111 year 2 $30,523 118 year 3 $20,987 100 The base year, or base period, is year 3. For the given years, calculate the nominal GDP. Round your answers to the nearest dollar.
The GDP deflator is calculated using O A. Real GDP - Nominal GDP x 100 OB. Real GOP MA x 100 Nominal ODP Nominal GDP O C. Nominal GDP x 100 O D. Constant Doilar GDP Current Doljar GDP x 100 Real GDP Suppose for the year 2013 the economy of Uplandia has a nominal GDP of $5,200 billion and a real GDP of $4.160 billion.
A: GDP Deflator = Nominal GDP / Real GDP * 100 Inflation rate = Percentage increase in GDP deflator Q: Country X Country Y Country Z 1 YEAR 1 YEAR AGO 1 YEAR AGO INDICATOR NOW NOW NOW AGO 7.5% 5.6% 7.9%…
The country of Economica's GDP deflator and nominal GDP in three different years are shown in the table. Year Nominal GDP GDP Deflator year 1 $25128 122 year 2 $54566 108 year 3 $30967 100 The base year, i.e. the base period, is Year 3. For years 1-3, please obtain the real GDP. Round your answers to the nearest dollar.
If nominal GDP is $10 trillion and real GDP is $8 trillion, the GDP deflator is: a. 80, and this indicates that the price level has decreased by 20 percent since the base year. b. 80, and this indicates that the price level has increased by 80 percent since the base year. c. 125, and this indicates that the price level has increased by 25 percent since the base year. d. 125, and this indicates ...
Year Nominal GDP Real GDP GDP Deflator 2021 2022 % % From 2020 to 2021, % %… A: Nominal GDP is the market value of goods and services that are produced in the economy.Real GDP is… Q: Gross Domestic Product If nominal GDP in 2005 was $13095.4 billion and the GDP deflator (price…
Q: Calculate Nominal GDP if Real GDP is 2700, GDP Deflator is 70 and the price of nutmeg is $10 and… A: Real GDP can be calculated by using the following formula. Q: Suppose nominal GDP is S99,000 and the GDP deflator is 110.
A: GDP Deflator is the ratio of nominal GDP to real GDP. GDP deflator of a base year is always 100. Q: The value of transfer payments are a) part of G (in the equation Y = C + I + G +NX) b) an…
Consider the GDP deflator and real GDP, given in thousands of dollars, for the country of Economica. Year Real GDP GDP deflator year 1 $40,983 122 year 2 $10,557 118 year 3 $50,957 100 The base year, or base period, is year 3. For the given years, calculate the nominal GDP. Round your answers to the nearest dollar.
Hint: Please round your calculation to two decimal places. Year Consumer Price Index (CPI) GDP Deflator 2016 240.0 106.6 2017 245.1 108.7 Inflation rate, % True or False: Typically, the inflation rate as measured by the Consumer Price Index (CPI) tends to be higher than the inflation rate as measured by the GDP deflator. O True O False