Economic Decision 4 calculate question ( about GDP. CPI kust like that)

User Generated

ovyy931011

Economics

Description

very easy economic calculate question. please very seriously focus those question. I want 100% correct. If you are not economic major please don't reply me.

Unformatted Attachment Preview

1 7 W+ HOME U F G H ] K L ENTER Х C 로 9 Ir S opt Q6. Unemployment Number of Component people Total population 2600 Working-age population 2000 Not in labor force 500 Employed 1300 a. Using the information in the table above, calculate the number of people in the labor force. Ans: b. Using the information in the table above, calculate the unemployment rate. Ans: c. Using the information in the table above, calculate the employment-to-population ratio Ans: d. the labor-force participation rate Ans: Q7. Types of unemployment: determine whether each of the following would be considered frictional, structural or cyclical unemployment: a. A worker is laid off due to reduced aggregate demand in the economy b. A worker in a DVD rental store becomes unemployed as video-on-demand service becomes more popular C. A new college graduate is looking for employment d. Government raises the minimum wage on the labor market Q8. Explain the relationship between RGDP and Potential RGDP and the relationship between Unemployment and Natural Unemployment, by using the business cycle diagram. C R u 그 1 HOME 0+ 0 F I J 8 + f) The inflation rate in 2015 Q4.Calculate the GDP deflator for each year. Year 02 03 04 Nominal GDP $10,470 10,961 11,713 Real GDP $10,049 10,301 10,704 Use the data in the following table to calculate the GDP deflator for each year (values are in billions of dollars). Q5. Tennis Balls Golf Balls Bottle of Gatorade Year 06 $2 $4 06 100 PRICE QUANTITY PRICE QUANTITY 100 $6 $1 200 $2 200 07 $2 07 150 200 Given the data above, Calculate the consumer price index for each year, compute the percentage change in the overall price level, which is inflation from 2006 to 2007, Cost of the Basket in 2006 = Cost of the Basket in 2007 = CPI for 2006 = CPI for 2007 = Inflation = ។ 1 } LOCK [ H. X х ] ] Y c L M+ 7 Q3. Calculate macroeconomic variables Year 2013 Base P of good 1 $1 $2 $3 Quantity of good 1 100 Quantity of good 2 50 2014 P of good 2. $2 $3 $4 150 100 2015 200 150 a) Calculate NGDP NGDP 2013 = NGDP 2014 = NGDP 2015 = b) Calculate RGDP (keep price prevailed at the base year) RGDP 2013 = RGDP 2014 = RGDP 2015 - c) Economic growth rate (growth rate of RGDP) in 2015 d) Calculate the GDPD GDPD 2013 = GDPD 2014 = GDPD 2015 = e) Calculate CPI CPI 2013 = CPI 2014 = CPI 2015=
Purchase answer to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Attached.

OUTLINE
INTRODUCTION
BODY
CONCLUSION
REFERENCE


Surname 1
Student Name:
Institutional Affiliation:
Instructor:
Course Title:
Date:
ECONOMIC DISCUSSION 4
Question Three: Calculating Macroeconomic Variables
a) Nominal Gross Domestic Product
By definition this is given as;
Nominal GDP = (Price of Good 1 × Quantity of Good 1) + (Price of Good 2 × Quantity of Good
2)
= (P1 × Q1) + (P2 × Q2)
Therefore,
NGDP 2013 = ($1 × 100 units) + ($2 × 50 units)
= $100 + $100 = $200.
NGDP 2014 = ($2 × 150 units) + ($3 × 100 units)
= $300 + $300 = $600.
NGDP 2015 = ($3 × 200 units) + ($4 × 150 units)
= $600 + $600 = $1200.

Surname 2
b) Real Gross Domestic Product
By definition the value is given by;
RGDP = (The Base Price 1 × Quantity of Good 1) + (The Base Price 2 × Quantity of Good 2)
RGDP 2013 = ($1 × 100 units) + ($2 × 50 units)
= $100 + $100 = $200.
RGDP 2014 = ($1 × 150 units) + ($2 × 100 units)
= $150 + $200 = $350.
RGDP 2015 = ($1 × 200 units) + ($2 × 150 units)
= $200 + $300 = $500.
c) Economic Growth Rate in 2015
The measur...


Anonymous
I was struggling with this subject, and this helped me a ton!

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Similar Content

Related Tags