I. GDP CalculationsProductFoodClothingEducationHealth carePrice 2019 Quantity 2 P19*Q19 Price "20 Q "2020244048100120200240Hint: Calculate the following:a.b.C.d.e.100040060030020000160006000060000156000P20*Q20 P19*q201200 28800 24000500 24000 20000120 14400120003607200086400153600 128000Nominal GDP for 2019 and 2020.Assume 2019 is the base year and calculate the price index for 2020.Real GDP for 2020.Nominal and real rate of growth of GDP.Inflation rate between 2019 and 2020.1.2128000-0.01538 -0.17949

Note:- Since we can only answer up to three subparts, we'll answer the first three. Please repost…

I. GDP Calculations Product Food Clothing Education Health care Price 2019 Quantity 2 P19*Q19 Price "20 Q "20 20 24 40 48 100 120 200 240 Hint: Calculate the following: a. b. C. d. e. 1000 20000 400 16000 600 60000 300 60000 156000 1200 500 120 360 P20*Q20 P19*q20 28800 24000 24000 20000 14400 12000 86400 72000 153600 128000 Nominal GDP for 2019 and 2020. Assume 2019 is the base year and calculate the price index for 2020. Real GDP for 2020. Nominal and real rate of growth of GDP. Inflation rate between 2019 and 2020. 1.2 128000 -0.01538 -0.17949

I. GDP Calculations Product Food Clothing Education Health care Price 2019 Quantity 2 P19Q19 Price "20 Q "20 20 24 40 48 100 120 200 240 Hint: Calculate the following: a. b. C. d. e. 1000 20000 400 16000 600 60000 300 60000 156000 1200 500 120 360 P20Q20 P19*q20 28800 24000 24000 20000 14400 12000 86400 72000 153600 128000 Nominal GDP for 2019 and 2020. Assume 2019 is the base year and calculate the price index for 2020. Real GDP for 2020. Nominal and real rate of growth of GDP. Inflation rate between 2019 and 2020. 1.2 128000 -0.01538 -0.17949

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 6SCQ: The Consumer Price Index is subject to the substitution bias and me quality/new goods bias. Are the...

See similar textbooks

Similar questions

Assume that for May 2021 the market for pimentos was under perfect competition with an industry price of $13.13 and quantity of 3,385 per 100 unis. i. Prove, with the aid of diagrams, that in the long run firms in the pimento industry will be experiencing normal profit. ii. Evaluate the likely effectiveness of THREE (3) changes that will be necessary for the pimento industry to move from perfect competition to oligopoly.
G.190.
Nimbus, Inc., makes brooms and then sells themdoor-to-door. Here is the relationship between thenumber of workers and Nimbus’s output during agiven day:Workers OutputMarginalProductTotalCostAverageTotalCostMarginalCost0 0 ____ ________ ____1 20 ____ ________ ____2 50 ____ ________ ____3 90 ____ ________ ____4 120 ____ ________ ____5 140 ____ ________ ____6 150 ____ ________ ____7 155 ____ ____a. Fill in the column of marginal products. Whatpattern do you see? How might you explain it?b. A worker costs $100 a day, and the firm has fixedcosts of $200. Use this information to fill in thecolumn for total cost.c. Fill in the column for average total cost. (Recallthat ATC T 5 C Q/ .) What pattern do you see?d. Now fill in the column for marginal cost.(Recall that MC TC 5 D ∆ / Q.) What patterndo you see?e. Compare the column for marginal productwith the column for marginal cost. Explain therelationship.f. Compare the column for average total costwith the column for marginal cost. Explain…
A hypothetical country of Lahland produces only movies and popcorn. Quantities and prices of these goods for the last several years are shown below. The base year is 2019. (Please write the calculation details) (1) What were this country's nominal GDP in 2018, 2019 and 2020? (2) What were this country's real GDP in 2018, 2019 and 2020? (3) What were this country's GDP deflator in 2018, 2019 and 2020?
What other variables do you expect to influence the number of international travelers?
t of curvenc ce of cure.. mce of curre ce of curre ence of c ck cyk ocurrency of currency... my risk recap to search KNOWLEDGE CHECK On June 23, 2016, the United Kingdom voted to leave the European Union. The white line shows the U.K.'s main equity index, the FTSE 100, from the start of 2016 to the date on which the U.K. government notified the European Union of its intent to leave. The orange line shows the number of dollars it takes to buy one pound sterling. The United Kingdom is a net importer, meaning the value of imports exceeds the value of exports. What can be reasonably surmised from the chart about large U.K. corporations? Click to open/close chart. They are probably heavy exporters. They are probably heavy importers. Their CEOs probably voted to leave the E.U. Their CEOs probably voted to remain in the E.U.
Agricultural price supports result in governments holding large inventories of agricultural products. Why do you think the government cannot simply give the products away to poor people?
Go to this website (http://www.measuringworth.com/ppowerus/) for the Purchasing Power Calculator at measuringWorth.com. How much money would it take today to purchase what one dollar would have bought in the year of your birth?
Commodity ROOT CROPS Unit January February March Аpril Мay 119,861 76,868 97.887 62,325 17,883 9,815 31,248 41,805 122,180 79.998 Carrots Kg Kg Kg Kg Kg Kg Kg Kg Kg 32,432 77.983 54.453 Cassava Common Yam Im ported yam Dasheen(Local) Dasheen(Imported) Eddoes (Local) Eddoes (Im ported) Sweet Potatoes (Local) Sweet Potatoes (Im ported) Ginger CONDIMENTS AND SPICES Celery Chive (L) Thyme (s) Hot Peppers (100's) Hot Peppers (40 lb) Shadon Beni Pimento (S) 29,687 4.818 363 16,235 1,906 37.506 57.780 28,321 26,325 19,492 18,210 20,413 4:798 29,952 36,180 23.580 22,770 140,389 40,674 24,887 68,625 30,835 16,560 27,253 12,263 9,280 27,792 36,450 195,121 156,648 125.726 65.380 1,980 6,480 Kg Kg 10,575 4.770 28,117 na 11,076 35.435 37.545 13,818 Bndl. 16,321 12,490 12,288 9,191 4.421 5,640 364 Bndl. 14,045 567 1,876 7,078 276 1,624 2,222 35.340 11,951 17,025 Bndl. 562 927 100's 1,225 Bag Bndl. 2,235 48,632 1,194 1,693 26,375 1,976 61,240 531 835 30,050 100's 3.571 5.910 4.492 5.750 3.385…
Help plz Graph plz 3 9
Commodity Unit January February Маrch Аpril Мay ROOT CROPS 119,861 76,868 Carrots 97,887 62,325 17,883 9,815 31,248 41,805 122,180 79.998 Kg 32,432 54,453 Cassava Kg Kg Kg Kg Kg Kg Kg Kg 77,983 29,687 4,818 Common Yam Im ported y am Dasheen(Local) Dasheen(Im ported) Eddoes (Local) Eddoes (Imported) Sweet Potatoes (Local) Sweet Potatoes (Im ported) Ginger CONDIMENTS AND 16,235 1,906 19,492 20,413 18,210 4.798 40,674 68,625 363 37,506 57.7 80 28,321 26,325 24,887 29,952 36,180 27,253 23.580 30,835 12,263 27,792 36,450 22,770 16,560 9,280 156,648 125,726 6,480 140,389 195,121 65,380 1,980 Kg Kg 10,575 11,076 4.770 28,117 na 35.435 37.545 13,818 SPICES Celery Chive (L) Thy me (s) Hot Peppers (100's) Hot Peppers (40 lb) Shadon Beni Pimento (S) Bndl. 16,321 12,288 9,191 17,025 12,490 4,421 5,640 Bndl. 14,045 7,078 11,951 Bndl. 567 1,876 276 1,624 562 927 364 100's 1,194 1,225 531 Bag 2,235 2,222 1,693 1,976 835 Bndl. 48,632 35,340 26,375 61,240 30,050 100's 3,571 5,910 4,492 5.750 3.385…
D. The table below contains data for the country of Batterland, which produces only waffles and pancakes. The base year is 2009. Year Price Quantity Price of Quanti of of Pancakes of Waffles Waffles Pancak 2008 $2.00 100 $1.00 100 2009 $2.00 120 $2.00 150 2010 $2.0O 150 $3.00 200 2011 $4.00 180 $3.00 220 1. In 2009, this country's nominal GDP was 2. In 2009, this country's real GDP was 3. In 2011, this country's GDP deflator was 4. In 2011, this country's real GDP growth rate was 5. This country's inflation rate in 2011 was