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Economics
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May 9, 2024
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Sec. 2 Births, Deaths, Marriages and Divorces
Table 75 – (Live Births, Deaths, Marriages, and Divorces: 1960 to 2021)
In what year was the highest number of births recorded?
-
2007
In what year was the birth rate the highest?
-
1960
Critical Question… Briefly explain the difference between “total number of births” and the “birth rate”. Why is it important to keep up with both figures?
-
Total number of births is a count while birth rate is a percentage of and dependent on the population at the time. What is the source of the information?
-
National Center for Health Statistics
Provide an APA citation (Scroll down to bottom of page) for this data set…
-
National Center for Health Statistics (2024). Live Births, Deaths, Marriages, And Divorces: 1960 To 2021 [Selected Years] ProQuest Statistical Abstract of the U.S. 2024 Online Edition. Retrieved from https://statabs-proquest-com.lynx.lib.usm.edu/sa/docview.html?table-
no=75&acc-no=C7095-
1.2&year=2024&z=323F7F75C25AED60B2E8C3D31AE78783DB5C55CB&accountid=13946
Sec. 4 Education
Table 255 – (Educational Attainment by State: 2000 to 2022)
For 2022, which state had the highest high school graduation rate?
-
Vermont
For 2022, what U.S. location has the highest percent of people with advanced degrees?
What location has the second highest?
-
District of Columbia
-
Massachusetts
Critical Question… Why do you think there is large difference between the highest and the second highest?
-
The District of Columbia houses the nation’s capitol. People with advanced degrees are likely to move there for high profile jobs and become part of the census.
What is the source of the information?
-
Bureau of Census.
Provide an APA citation for this data set…
-
Bureau of Census (2024). Educational Attainment By State: 2000 To 2022 [Selected Years] ProQuest Statistical Abstract of the U.S. 2024 Online Edition. Retrieved from https://statabs-proquest-com.lynx.lib.usm.edu/sa/docview.html?
table-no=255&acc-no=C7095-
1.4&year=2024&z=5FC518A4EC04089E683C3D88BD9D8FE871497C7F&acco
untid=13946
Sec. 5 Law Enforcement, Courts and Prisons
Table 337 – (Crime and Crime Rates by Type of Offense: 1980 to 2020)
Did the total number of crimes rise or fall between 1980 and 2020?
-
The total number rose but the number of crimes per year fell.
Go to the source of the information (scroll down and click through)… In what year did the FBI start collecting, publishing and archiving these statistics?
-
2020
What are two other publications listed at the FBI site?
-
Hate crime statistics and NIBRS estimation data
Sec. 13 Income, Expenditures, Poverty, and Wealth
Table 722 – (Households by Income Level and Medium Income by State: 2022)
How many households in Mississippi earn under $25,000?
-
289
What is the median income for households in Mississippi?
-
52719
Which state has the highest median income?
-
District of columbia
Sec. 26 Arts, Recreation and Travel
Table 1256 – (Personal Consumption Expenditures for Recreation: 1990 to 2022)
*1256 now covers 2000-2022 instead of 1990-2022*
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Related Questions
12. In 2018, a small town in South America had a
population of 1,400 people. Upon recounting in 2020,
the population had grown exponentially to 1,800
people.
a. Find the rate (as a percentage) at which it grew by
each year to get from 1,400 to 1,800,
b. Write an equation for the population in this town.
c. Find the year that the population will be double
what it was in 2018.
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The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base
year is 2015.
Prices and Quantities
Year
2015
2016
2017
2018
Price of Cereal
$4.00
$4.00
$5.00
$6.00
Quantity of
Cereal
100
120
150
180
Refer to Table 23-5. In 2017, this country's
Price of Milk
$1.50
$2.00
$2.50
$3.50
O real GDP was $1250, and the GDP deflator was 138.9.
O real GDP was $1250, and the GDP deflator was 128.0.
O real GDP was $900, and the GDP deflator was 138.9.
O real GDP was $900, and the GDP deflator was 128.0.
Quantity of
Milk
180
200
200
240
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30-
What do we find if we add net foreign factor incomes to GDP?a)GDP
B)Real MG
NS)purchasing power parity
D)SMH
TO)MG
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54
You are employed by the state bureau of economic development. There is a demand for
a leading economic index to review past economic activity and to forecast future
economic trends in the state. You decide that several key factors should be included in
the index: number of new businesses started during the year, number of business
failures, state income tax receipts, college enrollment, and the state sales tax receipts.
Here are the data for 2000 and 2018.
New businesses
Business failures
State income tax receipts ($ millions)
College student enrollment
State sales tax ($ millions)
Click here for the Excel Data File
2000
1,0881
627
Leading economic indicator
191.7
242,119
Economic activity has
41.6
2018
1,162
520
162.6
290,841
The weights you assign are: new businesses 15%, business failures 10%, income tax
40%, enrollment 10% and sales tax 25%.
39.9
b. Compute the leading economic indicator for 2018. (Round your answer to 2 decimal
places.)
c. Interpret the indexes. (Round your…
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2. Suppose that New Zombie has adopted the framework used by the US Bureau of Labor Statistics to calculate its labor force statistics. Following information is extracted from a database maintained by the country's ministry of labor Total population 24,512,311 personnel 98,539 People below 16 years of age 4, 240, 102 People in elderly care centers 1, 232, 130 People who didn't look for jobin 4 weeks 831,304 House wives whose sole activity is home - making 3, 424, 204 Volunteers 313,200 Self employed people 3,423,042 People who are jobless, actively looking for a job, and 2, 234 available for work Calculate the unemployment rate and the labor force of New Zombie Show your calculation (See next page for the formula and directions for this problem )
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The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the
last several years are shown below. The base year is 2015.
Prices and Quantities
Quantity of
Cereal
Quantity of
Milk
Year
Price of Cereal
Price of Milk
2015
2016
$4.00
$1.50
100
120
180
200
$4.00
$2.00
2017
$5.00
150
$2.50
200
2018
$6.00
180
$3.50
240
1. Refer to Table 23-5. For each year listed, calculate real GDP and the GDP deflator, using 2015 as
the base year.
2. Refer to Table 23-5. By how much did output grow from 2016 to 2017?
3. Refer to Table 23-5. What was this country's inflation rate from 2016 to 2017? From 2017 to
2018?
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6. Fill in the bottom table by converting nominal incomes into real
incomes.
Nominal Mean Household
Income (current dollars)
1980
2014
Lowest 20%
$4,300
$11,700
Highest 20%
$46,500
$194,000
Highest 5%
$69,500
$332,000
CPI
36.5
100
Real Mean Household
Income (constant dollars)
1980
2014
change
Lowest 20%
Highest 20%
Highest 5%
a
C
Briefly summarize your findings from the above data.
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Consider the following table, which describes the prices and quantities of goods produced in an
economy over 3 years. Treat 2018 prices as base-year prices.
2018
2019
2020
Item
Prices
Quantities
Prices
Quantities
Prices
Quantities
Meal Kit Delivery
$106.00
65025
$110.00
81600
$109.35
91600
Water
$46.00
80025
$51.25
87350
$49.10
89850
Hydro Electricity
Dry cleaning
$53.00
$62.00
76025
$59.25
84200
$57.85
86350
43025
$67.00
49850
$67.10
47350
Entertainment
$26.00
51025
$31.50
57900
$32.10
60950
Carry all rounded answers to later parts of the problem.
• First two blanks: round the GDP deflator to 1 decimal place (example: 0.1).
• Third and fourth blankS: report the GDP increase and change in price level as a percentage,
rounded to 1 decimal place (example: 0.1). Do not include the % sign.
The GDP deflator for 2019 is
The GDP deflator for 2020 is
% between 2019 and 2020.
The economy's output level increased by
% between 2019 and 2020.
The price level increase by
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Table 23-3
The following table reports nominal and real GDP for the U.S. from 1929 to 1932.
Year
1929
1930
1931
1932
Nominal GDP
(Billions of dollars)
103.6
91.2
76.5
58.7
Real GDP
(Billions of dollars)
977
892.8
834.9
725.8
Refer to Table 23-3. What was the growth rate of real GDP for 1930?
-9.43%. Nominal GDP is a better gauge of economic well-being than real GDP.
-9.43%. Real GDP is a better gauge of economic well-being than nominal GDP.
-8.62%. Nominal GDP is a better gauge of economic well-being than real GDP.
-8.62%. Real GDP is a better gauge of economic well-being than nominal GDP.
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1.Based on the following statistic, form a price index (consider 2015 as the base year) for the country
East Germany: Products
Computer Price & Quantity in 2015- $400,10
Computer Price & Quantity in2016- $300,10
Mobile Price & Quantity in 2015- $2,14
Mobile Price & Quantity in 2016- $10,14
Wheat Price & Quantity in 2015- $8,18
Wheat Price & Quantity in2016- $9,18
a) After forming a price index, calculate and comment on inflation of East Germany.
2.Explain with a diagram how a decrease in human capital can lead to detrimental results for economic
growth (holding physical capital and technological progress constant)?
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3
Using the data in the table below related to nominal GDP, real GDP, and total population, answer the questions for the time period
2010-2019:
budy
Year
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Nominal GDP (in
Millions)
$9,817,000
10,128,000
10,469,000
10,960,000
11,685,000
12,422,000
13,178,000
13,808,000
14,291,000
13,939,000
14,524,000
15,518,000
16,163,000
16,768,000
17,393,000
18,037,000
18,954,000
19,543,000
20,612,000
21,433,000
For 2010:
Real GDP (in
Millions) (2012
Base Year)
$13,131,000
13,262,000
13,493,000
13,879,000
14,406,000
14,913,000
15,338,000
15,626,000
%
15,605,000
15,209,000
15,599,000
15,841,000
16,197,000
16,495,000
16,912,000
17,432,000
17,731,000
18,144,000
18,688,000
19,092,000
Instructions: In part a, round your responses to the nearest dollar. In parts b and c, enter your responses as a percentage rounded to
one decimal place.
a. Calculate nominal and real GDP per capita for 2010 and 2019.…
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19. Table below shows nominal GDP, the GDP deflator and the
population for the U.S. for 2019 and 2020.
Year Nominal GDP GDP deflators Population
( in $ billions)
|2019|
1987 = 100
(in millions)
4567
51.2
240
2020
6532
116.8
280
Using the information contained in the above table, calculate:
(a) Growth rate of Nominal GDP
(b) Growth rate of population
(c) Growth rate of real GDP
(d) Growth rate of real GDP per capita
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Using the data in the table below related to nominal GDP, real GDP, and total population, answer the questions for the time period
2010-2019:
Year
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Nominal GDP (in
Millions)
$9,817,000
10,128,000
10,469,000
10,960,000
11,685,000
12,422,000
13,178,000
13,808,000
14,291,000
13,939,000
14,524,000
15,518,000
16,163,000
16,768,000
17,393,000
18,037,000
18,954,000
19,543,000
20,612,000
21,433,000
For 2019:
Nominal GDP per capita = $
Real GDP per capita = $
Real GDP (in
Millions) (2012
Base Year)
%
$13,131,000
13,262,000
13,493,000
13,879,000
14,406,000
14,913,000
15,338,000
15,626,000
15,605,000
Instructions: In part a, round your responses to the nearest dollar. In parts b and c, enter your responses as a percentage rounded to
one decimal place.
a. Calculate nominal and real GDP per capita for 2010 and 2019.
For 2010:
15,209,000
15,599,000
15,841,000
16,197,000
16,495,000
16,912,000
17,432,000…
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The following table shows data on a hypothetical country's Real GDP from 1970 through 1978:
Real GDP
Year (Billions of Dollars)
1970
465
1971
470
1972
475
1973
485
1974
510
1975
505
1976
495
1977
490
1978
500
The green line on the following graph shows the economy's long-term growth trend.
Lise the blue points (circle symbol) to plot the Real GDP in each of the years listed. (Note: Plot your points in the order in which you would like them
connected. Line segments will connect the points automatically.) Next, place the black point (plus symbol) on the graph to indicate the point on the
Real GDP curve that delinitely represents a peak. Finally, place the grey point (star symbol) on the graph to indicate the point on the Real GDP curve
that delinitely represents a trough.
550
540
Real GDP
530
520
510
Peak
500
490
Traugh
Growth trend
480
470
460
450
1970
1971
1972
1973
1974
1975
1978
1977
1978
YEAR
Calculate the percentage change in Real GDP in each of the years shown. (Hint: The…
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Consider an economy that produces and consumes bread and automobiles. The table below presents the data for two different years
Bread (a loaf)
Automobile
Year
Price
Quantity
Price
Quantity
2013
$10
500,000
$50,000
100
2021
$20
450,000
$60,000
150
Cost of basket for both 2013 & 2021
CPI (consumer price index) for 2021
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Using the data In the table below related to nominal GDP, real GDP, and total population, answer the questlons for the time perlod
2010-2019:
Real GDP (in
Millions) (2012
Base Year)
Population (in
Nominal GDP (in
Millions)
Year
(suo!W
282.4
000
10,128.000
13,262.000
285.5
2002
288.6
000
291.0
2004
12,422,000
14.913.000
296.6
13,178,000
9002
8887
15.626,000
000 808
14.291.000
15,605.000
800
600
2010
14,524,000
2011
15,518,000
15.841.000
311.7
2012
16,163,000
16,197,000
2013
16,768,000
16,495,000
316.2
2014
16,912,000
318.6
2015
17,432,000
2016
18,954,000
17,731,000
323.1
2017
19,543,000
18,144,000
325.1
2018
20,612,000
18,688,000
327.1
2019
21.433,000
329.1
Instructlons: In part a, round your responses to the nearest dollar. In parts b and c, enter your responses as a percentage rounded to
one decimal place.
a. Calculate nominal and real GDP per capita for 2010 and 2019.
For 2010:
Nominal GDP per capita = $
Real GDP per capita = $
For 2019:
Nominal GDP per capita = $
%3D
Real GDP per…
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The country of Economica's GDP deflator and nominal GDP in three different years are shown in the table.
Year
Nominal GDP
GDP Deflator
year 1
$25128
122
year 2
$54566
108
year 3
$30967
100
The base year, i.e. the base period, is Year 3. For years 1-3, please obtain the real GDP. Round your answers to the nearest dollar.
What is the real GDP for year 1?
real GDP: $
What is the real GDP for year 2?
real GDP: $
What is the real GDP for year 3?
real GDP: $
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Consider the data shown in the table. Assume that the economy produces only frozen fish. What is the real GDP for last year using this year as the base year?
tons of fish sold
actual price
last year
100
1800
this year
105
1850
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Real Gross Domestic Product (GDPY
2.476 billion
US dollars
Real income per capita in Lusitania is $
(Round your response to the hearest dollar.)
Real income per worker in Lusitania is $
(Round your response to the nearest dollar)
The following table gives you the same information for the country Arctica
2011
Population, total in Arctica
Employment
120 million
60 million
Real Gross Domestic Product (GDP)
3,600 billion
US. dollars
Real income per capita in Arctica is $
(Round your response to the nearest dollar
Real income per worker in Arctica is $
(Round your response to the nearest dollar)
Based on the information,
V would be considered more productive since its
V is higher
Using the information given in both of these tables to compare living standards in Lusitania and Arctica you should use
O A. the dependency ratio.
O B. real income per capita
O C. absolute real GDP in U.S. dollars
O D. real income per worker.
Click to select your answer(s).
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Use the following table to answer the next question.
Year
Alta
Zorn
Alta
Zorn
(Real GDP) (Real GDP) (Population) (Population)
$2,000
2,100
2,200
$150,000
152,000
154,000
1
200
500
202
505
210
508
Between years 2 and 3
A) population fell in Alta.
B) Alta's real GDP grew more rapidly than Zorn's real GDP.
C) population growth reduced Alta's real GDP growth to zero.
D) real GDP fell in Zorn.
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1. Give two examples of any facts (data) on older-adults (65+) population that surprised you or you did not expect. Erber provides a lot of data on topics including: demography and population trends, Baby Boomers, residence patterns, as well facts on health, education, gender, and poverty.
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Related Questions
- 12. In 2018, a small town in South America had a population of 1,400 people. Upon recounting in 2020, the population had grown exponentially to 1,800 people. a. Find the rate (as a percentage) at which it grew by each year to get from 1,400 to 1,800, b. Write an equation for the population in this town. c. Find the year that the population will be double what it was in 2018.arrow_forwardThe country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2015. Prices and Quantities Year 2015 2016 2017 2018 Price of Cereal $4.00 $4.00 $5.00 $6.00 Quantity of Cereal 100 120 150 180 Refer to Table 23-5. In 2017, this country's Price of Milk $1.50 $2.00 $2.50 $3.50 O real GDP was $1250, and the GDP deflator was 138.9. O real GDP was $1250, and the GDP deflator was 128.0. O real GDP was $900, and the GDP deflator was 138.9. O real GDP was $900, and the GDP deflator was 128.0. Quantity of Milk 180 200 200 240arrow_forward30- What do we find if we add net foreign factor incomes to GDP?a)GDP B)Real MG NS)purchasing power parity D)SMH TO)MGarrow_forward
- 54 You are employed by the state bureau of economic development. There is a demand for a leading economic index to review past economic activity and to forecast future economic trends in the state. You decide that several key factors should be included in the index: number of new businesses started during the year, number of business failures, state income tax receipts, college enrollment, and the state sales tax receipts. Here are the data for 2000 and 2018. New businesses Business failures State income tax receipts ($ millions) College student enrollment State sales tax ($ millions) Click here for the Excel Data File 2000 1,0881 627 Leading economic indicator 191.7 242,119 Economic activity has 41.6 2018 1,162 520 162.6 290,841 The weights you assign are: new businesses 15%, business failures 10%, income tax 40%, enrollment 10% and sales tax 25%. 39.9 b. Compute the leading economic indicator for 2018. (Round your answer to 2 decimal places.) c. Interpret the indexes. (Round your…arrow_forward2. Suppose that New Zombie has adopted the framework used by the US Bureau of Labor Statistics to calculate its labor force statistics. Following information is extracted from a database maintained by the country's ministry of labor Total population 24,512,311 personnel 98,539 People below 16 years of age 4, 240, 102 People in elderly care centers 1, 232, 130 People who didn't look for jobin 4 weeks 831,304 House wives whose sole activity is home - making 3, 424, 204 Volunteers 313,200 Self employed people 3,423,042 People who are jobless, actively looking for a job, and 2, 234 available for work Calculate the unemployment rate and the labor force of New Zombie Show your calculation (See next page for the formula and directions for this problem )arrow_forwardThe country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2015. Prices and Quantities Quantity of Cereal Quantity of Milk Year Price of Cereal Price of Milk 2015 2016 $4.00 $1.50 100 120 180 200 $4.00 $2.00 2017 $5.00 150 $2.50 200 2018 $6.00 180 $3.50 240 1. Refer to Table 23-5. For each year listed, calculate real GDP and the GDP deflator, using 2015 as the base year. 2. Refer to Table 23-5. By how much did output grow from 2016 to 2017? 3. Refer to Table 23-5. What was this country's inflation rate from 2016 to 2017? From 2017 to 2018?arrow_forward
- 6. Fill in the bottom table by converting nominal incomes into real incomes. Nominal Mean Household Income (current dollars) 1980 2014 Lowest 20% $4,300 $11,700 Highest 20% $46,500 $194,000 Highest 5% $69,500 $332,000 CPI 36.5 100 Real Mean Household Income (constant dollars) 1980 2014 change Lowest 20% Highest 20% Highest 5% a C Briefly summarize your findings from the above data.arrow_forwardConsider the following table, which describes the prices and quantities of goods produced in an economy over 3 years. Treat 2018 prices as base-year prices. 2018 2019 2020 Item Prices Quantities Prices Quantities Prices Quantities Meal Kit Delivery $106.00 65025 $110.00 81600 $109.35 91600 Water $46.00 80025 $51.25 87350 $49.10 89850 Hydro Electricity Dry cleaning $53.00 $62.00 76025 $59.25 84200 $57.85 86350 43025 $67.00 49850 $67.10 47350 Entertainment $26.00 51025 $31.50 57900 $32.10 60950 Carry all rounded answers to later parts of the problem. • First two blanks: round the GDP deflator to 1 decimal place (example: 0.1). • Third and fourth blankS: report the GDP increase and change in price level as a percentage, rounded to 1 decimal place (example: 0.1). Do not include the % sign. The GDP deflator for 2019 is The GDP deflator for 2020 is % between 2019 and 2020. The economy's output level increased by % between 2019 and 2020. The price level increase byarrow_forwardTable 23-3 The following table reports nominal and real GDP for the U.S. from 1929 to 1932. Year 1929 1930 1931 1932 Nominal GDP (Billions of dollars) 103.6 91.2 76.5 58.7 Real GDP (Billions of dollars) 977 892.8 834.9 725.8 Refer to Table 23-3. What was the growth rate of real GDP for 1930? -9.43%. Nominal GDP is a better gauge of economic well-being than real GDP. -9.43%. Real GDP is a better gauge of economic well-being than nominal GDP. -8.62%. Nominal GDP is a better gauge of economic well-being than real GDP. -8.62%. Real GDP is a better gauge of economic well-being than nominal GDP.arrow_forward
- 1.Based on the following statistic, form a price index (consider 2015 as the base year) for the country East Germany: Products Computer Price & Quantity in 2015- $400,10 Computer Price & Quantity in2016- $300,10 Mobile Price & Quantity in 2015- $2,14 Mobile Price & Quantity in 2016- $10,14 Wheat Price & Quantity in 2015- $8,18 Wheat Price & Quantity in2016- $9,18 a) After forming a price index, calculate and comment on inflation of East Germany. 2.Explain with a diagram how a decrease in human capital can lead to detrimental results for economic growth (holding physical capital and technological progress constant)?arrow_forward3 Using the data in the table below related to nominal GDP, real GDP, and total population, answer the questions for the time period 2010-2019: budy Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Nominal GDP (in Millions) $9,817,000 10,128,000 10,469,000 10,960,000 11,685,000 12,422,000 13,178,000 13,808,000 14,291,000 13,939,000 14,524,000 15,518,000 16,163,000 16,768,000 17,393,000 18,037,000 18,954,000 19,543,000 20,612,000 21,433,000 For 2010: Real GDP (in Millions) (2012 Base Year) $13,131,000 13,262,000 13,493,000 13,879,000 14,406,000 14,913,000 15,338,000 15,626,000 % 15,605,000 15,209,000 15,599,000 15,841,000 16,197,000 16,495,000 16,912,000 17,432,000 17,731,000 18,144,000 18,688,000 19,092,000 Instructions: In part a, round your responses to the nearest dollar. In parts b and c, enter your responses as a percentage rounded to one decimal place. a. Calculate nominal and real GDP per capita for 2010 and 2019.…arrow_forward19. Table below shows nominal GDP, the GDP deflator and the population for the U.S. for 2019 and 2020. Year Nominal GDP GDP deflators Population ( in $ billions) |2019| 1987 = 100 (in millions) 4567 51.2 240 2020 6532 116.8 280 Using the information contained in the above table, calculate: (a) Growth rate of Nominal GDP (b) Growth rate of population (c) Growth rate of real GDP (d) Growth rate of real GDP per capitaarrow_forward
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