Macroeconomics
13th Edition
ISBN: 9780134744452
Author: PARKIN, Michael
Publisher: Pearson,
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Question
Chapter 6, Problem 4SPA
To determine
Estimate the equilibrium real wage rate.
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Make the following calculations according to the table below.
Good A
Good B
Good C
Good D
Quantitiy
4
2017
Price
1
2,5
0,5
1,5
Quantitiy
3
4
2018
Price
1
1
Quantitiy
4
3
2019
Price
1,5
1,5
Quantitiy
3
3
4
2020
Price
2,5
4
1
Quantitiy
4
4
5
2021
Price
3
1,5
2,5
Calculate nominal GDP, real GDP and growth rate for all years.
Calculate the inflation using the GDP deflator for all years.
a.
b.
use the year 2017 as the base year, if you need.
In a small economy two goods are produced: meat and potatoes. Assume the following
values:
Year
Price meat
Produced
Price potatoes
Produced quantity
quantity meat
potatoes
2017
10
25
2018
3
12
7
27
2019
4
11
8
26
A) Calculate the nominal GDP for 2018 and 2019 (
B) Calculate the real GDP for 2018 and 2019 with 2017 as the base year
C) Calculate the GDP deflator for 2018 and 2019 (
D) Calculate the growth rate of nominal GDP as well as real GDP from 2019 compared to the
previous year. (r
Consider an economy that produces only computers. The quantity of computers and the price of computers in four successive years are given in the table.
A. Compare the nominal GDP growth rates and the real GDP growth rates for 2015, 2016, and 2017. What do you conclude? Which of the two accurately measures the GDP and why?
Thank Youuu!!!
Chapter 6 Solutions
Macroeconomics
Ch. 6.1 - Prob. 1RQCh. 6.1 - Prob. 2RQCh. 6.1 - Prob. 3RQCh. 6.2 - Prob. 1RQCh. 6.2 - Prob. 2RQCh. 6.2 - Prob. 3RQCh. 6.3 - Prob. 1RQCh. 6.3 - Prob. 2RQCh. 6.3 - Prob. 3RQCh. 6.3 - Prob. 4RQ
Ch. 6.3 - Prob. 5RQCh. 6.3 - Prob. 6RQCh. 6.4 - Prob. 1RQCh. 6.4 - Prob. 2RQCh. 6.4 - Prob. 3RQCh. 6.5 - Prob. 1RQCh. 6.5 - Prob. 2RQCh. 6.5 - Prob. 3RQCh. 6 - Prob. 1SPACh. 6 - Prob. 2SPACh. 6 - Prob. 3SPACh. 6 - Prob. 4SPACh. 6 - Prob. 5SPACh. 6 - Prob. 6SPACh. 6 - Prob. 7SPACh. 6 - Prob. 8SPACh. 6 - Prob. 9APACh. 6 - Prob. 10APACh. 6 - Prob. 11APACh. 6 - Prob. 12APACh. 6 - Prob. 13APACh. 6 - Prob. 14APACh. 6 - Prob. 15APACh. 6 - Prob. 16APACh. 6 - Prob. 17APACh. 6 - Prob. 18APACh. 6 - Prob. 19APACh. 6 - Prob. 20APACh. 6 - Prob. 21APACh. 6 - Prob. 22APACh. 6 - Prob. 23APACh. 6 - Prob. 24APACh. 6 - Prob. 25APA
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