Using the midpoint method (percentage change = change in quantity/average), calculate the percentage change in a nation’s GDP from $1 trillion in 2005 and $1.03 trillion in 2006. Group of answer choices
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Using the midpoint method (percentage change = change in quantity/average), calculate the percentage change in a nation’s
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- At the end of the year 2022, Statistics South Africa estimated the total amount spent on consumption, government purchases, investment and net export of goods and services to arrive at the country's GDP. What measurement approach is described above? a) Value added. b) Income. c) Expenditure. d) Factor costUse the Market Values approach to calculate the GDP of a fictitious country using the data in the table below: What is the GDP for this country? A) $10,178 B) $305 C) $410.450 D) $10,000The GDP data collected for the current year for a number of countries are called _____. Select one: a. cross-section data b. time-series data c. panel data d. experimental data
- Refer to the data file to answer the following questions. 1. Calculate the Gross Domestic Product (GDP) at current prices for each quarter.The following table reports 2018 transactions that occurred in the United States. Prices in 2018 and 2016 (base year) are also given. Use the worksheet to answer questions below. Please make sure to show any formulas you used, calculations and your work. i. Which of the listed transactions should not be used in U.S. GDP calculation? Please include one reason for each transaction you think should not be included in U.S. GDP calculation. ii. Based on the transactions you decided to include in U.S. GDP, calculate nominal GDP in 2018. ii. Based on the transactions you decided to include in U.S. GDP, calculate real GDP in 2018. iii. Calculate the GDP Deflator in 2018. Price per Unit in Price per Unit Quantity in Item 2016 in 2018 2018 (Base Year) Bottles Wine from France $15 $20 10 Boxes of Cereal produced in Battle Creek, MI $5 $4 20 Used Tires $12 $15 5 Shares of Twitter Stock $8 $10 15 Hours of Swimming Lessons at the Y in $4 $6 8 Kalamazoo, MI GDP deflator in 2018 was... Answer:Construct the following graphs for the US economy using the data from FRED, BEA, and BLS websites. Select the period from 1945 (subject to data availability) until the most recent year available. You have to create each graph three different times by utilizing the data from the three different websites. Be sure to indicate the source of data for each graph. Nominal GDP and real GDP levels on the same graph (two curves on the same graph) Real GDP growth rate Unemployment rate Price Index (CPI or GDP deflator) Inflation rate
- How much (if any) does each of the following transactions raise GDP? The Jones family sells its old house to the Reynolds family for $130,000. The Jones family then buys a newly constructed house from a builder for $175,000. Type your numeric answer and submit14 GDP will not be the correct answer please answer in ABCD formatQUESTION 1 Below is a hypothetical table such as would be generated by the Bureau of Labor Statistics when reporting historical and forecasted levels of gross domestic product for the United States. Use the answer table to fill in the blanks for the missing estimates. Make sure you show your work. 1998 Gross Domestic Product Answer (Remember to show work): 2028 Personal Consumption Expenditures Answer (Remember to show work): 2008 Gross Private Domestic Investment Answer (Remember to show work): 2018 Exports Answer (Remember to show work):
- Using the formula GDP = National Income + Depreciation + (indirect taxes – subsidies) + Net factor payments to the rest of the world, calculate GDP using the Income Approach. (all figures are in billions of dollars):How has government expenditure in France throughout the period for which data is available in the graph?Homework The Aggregate Economy Revenues Expenditures GDP Year (Billions of dollars) (Billions of dollars) (Billions of dollars) 2000 2,025 1,789 9,817 2001 1,991 1,863 10,128 2002 1,853 2,011 10,470 2003 1,783 2,160 10,961 2004 1,880 2,293 11,686 Plot the data for revenues and expenditures as a percentage of GDP on the following graph, rounded to the nearest percent. Use the purple points (diamond symbol) for expenditures and the green points (triangle symbol) for revenues. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 25 EXPENDITURES AND REVENUES (Percent of GDP) 15 10 0 2003 > Expenditures 2004 2005 1999 2000 2001 2002 YEAR In which years was the government's budget in deficit? Check all that apply. 2000 2001 2002 U 2003 2004 In 2001, the national debt by 4 Revenues X A-Z हे
