User Account

All Pages

Real gdp rose by what percent

Assignment Help Microeconomics
Reference no: EM13338138

Suppose nominal GDP in 2005 was $14 trillion, and in 2006 it was $15 trillion. The general price index in 2005 was 100, and in 2006 it was 103. Between 2005 and 2006, real GDP rose by what percent?

Reference no: EM13338138

Questions Cloud

Health expenditures in the u.s. have increased from : Health expenditures in the U.S. have increased from 5% of GDP to 17% of GDP over the past 50 years. List and explain the 3 reasons for this increase.
What is the percent decline in sales : An auto dealership estimates that its demand curve has an elasticity of 2.78. If it wishes to increase sales by 12%, by how much should it decrease price? What will happen to revenue (rise or fall)? If instead it raises price by 20%, what is the perc..
Response in relation to scarcity and in terms of the demand : One of the functions of price is to ration resources and goods and services. What do we mean when we say price serves as a rationing device? Elaborate your response in relation to scarcity and in terms of the demand and supply model
What is the size of the labor force : Suppose the number of employed people in an economy is 121,166,640. The unemployment rate in this economy is 10.4 percent, or .104, and the labor force participation rate is 72.5 percent, or .725.
Real gdp rose by what percent : Suppose nominal GDP in 2005 was $14 trillion, and in 2006 it was $15 trillion. The general price index in 2005 was 100, and in 2006 it was 103. Between 2005 and 2006, real GDP rose by what percent?
The size of the labor force in a community is : The size of the labor force in a community is 800, and 720 of these folks are gainfully employed. In this community, 200 people over the age of 16 do not have a job and are not looking for work
What amount must be placed on deposit today to equal : What amount must be placed on deposit today to equal $15,000 in 4 years at 15 percent per year compounded continuously?
What are the other determinants of demand : What are the other determinants of demand? What is an equilibrium? What are the effects of increased demand on equilibrium quantity and equilibrium price?
What annual rate of interest is being earned on this fund : On january 1,2005, a person's saving account was worth $200,000. Every month thereafter, this person makes a cash contribution of $676 to the account. I f the funds is expected to be worth $400,000 on january 1,2010, what annual rate of interest is b..

Reviews

Write a Review

Microeconomics Questions & Answers

  If the price of bubble gum is $1 per unit and the price of

Suppose that Marie’s marginal utility from consuming one more unit of bubble gum is 10 utils while her total utility from consuming one more unit of cake increases from 130 utils to 142 utils.

  What is the rule of profit maximization in economics

State the Law of Supply. Why do the supply curve slopes upward? State the Law of Demand. Why do the demand curve slopes downward? Explain why normal profit is an implicit cost (i.e., subtracted from accounting profits) in our definitionof economic tr..

  Suppose the person lives for two periods

Suppose the person lives for two periods, U = u(c1) + bu(c2), and can acquire an asset at price q, with c1 = w1 – qa and c2 = (d + q*)a + w2, where d = dividend and q* = selling price.

  Define business behavior and public policy

explain how rent seeking can lead to a drop in production of goods and services. What role might the underground economy play in lessening the drop in productive activities?

  Explain current health of the economy

Explain what the new equilibrium point means in terms of GDP and the price level. Based on your understanding of the current health of the economy, was this program successful? Why do you say this?

  Statistically significant regression coefficient

Determine which of the following is most likely to indicate statistically significant regression coefficient? Assume the price elasticity of the supply of cheese is 0.80. If the price of cheese rises by .20 percent,

  What motivates firms to choose the scale of operation

What happens to the scale of firms in the long run What motivates firms to choose the scale of operation that they do  How does the market adjust in the long run when firms are earning short-run economic profits

  Draw a graph of the aggregate labor market in equilibrium

Draw a graph of the aggregate labor market in equilibrium. Then consider each of the following scenarios. In each case, show the effect on the market and explain what will happen to the real wage and the equilibrium quantity of labor.

  Was the higher price caused by change in demand

In the last month, the price of gasoline increased by 20 percent. Your job is to determine what caused the increase in price: a change in demand or a change in supply. Ms. Info has all the numbers associated with the gasoline market.

  Perfect competitive market for mnc

Draw the diagram showing the cost structure of price taker and a market price well above minimum average cost. Given that any firm is price taker, how can a firm capture any economic rent (profits in excess of opportunity cost of capital)?

  Geometric gradient problem

If your child is born today, how much will you need to put away per year, at end of each year through your child's 18th birthday, so that no additional payments need to be made after year 18

  Estimate the cash flow to be included in the horizon year

Estimate the cash flow to be included in the horizon year and what will be the horizon value if there is no profit growth?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd