MT445 unit 2 assignment - MT 445 unit 2 assignment - use as a guide only

Feb 3rd, 2012
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1. Why does inflation make nominal GDP a poor measure of the increase in total production? 2. Which component of GDP will be affected by each of the following transactions involving FlyCheap Airlines? If you do not believe any component will be affected, briefly explain why. i. You purchase a ticket on a FlyCheap Airlines to visit your niece. ii. FlyCheap Airlines purchases a new jetliner from Boeing. iii. FlyCheap Airlines purchases new seats to be installed on a jetliner it already owns. iv. FlyCheap Airlines purchases 200 million gallons of fuel. v. A French citizen purchases a ticket to fly on a FlyCheap flight from Paris to New York. vi. The city of Nashville agrees to spend funds to extend one of the runways so that FlyCheap will be able to land larger jets.   3. Use the table to answer the following questions. Year Real GDP (Billions of 2000 Dollars) 1993 $7,113 1994 7,101 1995 7,337 1996 7,533 1997 7,836 i. Calculate the growth rate of

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