What would happen to values of real and nominal gdp

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Reference no: EM13852462

a) Calculate national income form the following figure

consumption: 200 billion

depreciation: 20 billion

statistical discrepancy: 12 billion

gross investment: 30 billion

imports: 40 billion

Social Security Taxes: 25 billion

Exports: 50 billion

Net foreign factor income: 15 billion

Gov't purchases: 60 billion

Personal Income taxes: 40 billion

b) if there were 80 million people in this country, what would the GDP per-capita be?

c) if all prices were to double overnight, what would happen to the values of real and nominal GDP?

nominal____ real gdp____

Reference no: EM13852462

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