User Account

All Pages

Calculate the growth rate of the gdp deflator

Assignment Help Macroeconomics
Reference no: EM13852388

1. Consider the following data. For all calculations, calculate to 1 decimal place.


Year

Nominal GDP (billions)

GDP Deflator (base year 2006)

2013

$951.3

103.3

2014

 

105.1

 

a) Calculate real GDP in 2013 (in 2006 prices).

b) If real GDP in 2014 is $950.5 billion (2006 prices), calculate nominal GDP for 2014.

c) Calculate the growth rate of nominal GDP between 2013 and 2014 (Note: the growth rate is the percentage change from one period to the next).

d) Calculate the growth rate of real GDP between 2013 and 2014.

e) Calculate the growth rate of the GDP deflator between 2013 and 2014. What statistic are you calculating?


2. At the beginning of 2014, the aggregate output in Atlantis was $15 billion and the population was 3 million. During 2014, aggregate output rose by 3.5%, the population rose by 2.5%, and the aggregate price level remained constant. For all calculations, calculate to 2 decimal places. (10 marks - 2 marks each)

a) What was the aggregate output per capita in Atlantis at the beginning of 2014?

b) What was aggregate output in Atlantis at the end of 2014?

c) What was the population in Atlantis at the end of 2014?

d) What was aggregate output per capita in Atlantis at the end of 2014?

e) What was the annual growth rate of per capita output in Atlantis during 2014?

Reference no: EM13852388

Questions Cloud

Demonstrate understanding of principles of operating system : The report needs to demonstrate an understanding and awareness of the distinctions between the varieties of relevant issues allowing the isolation and identification of the key concepts and principles of the operating systems.
How will the long-term bond market be affected by the feds : How will the long-term bond market be affected by the Fed's raising of rates? Briefly explain.
What is the key objective of a supply side policy? : What is the definition of ‘supply side policy'? What is the key objective of a supply side policy?
Survey on modern embedded os including ios and android : Survey modern embedded OS including iOS, Android, wearable OS and others. Investigate and compare their architectures, implementations, strengths, weakness, and security properties.
Calculate the growth rate of the gdp deflator : Calculate the growth rate of the GDP deflator
Description of the current database software : Describe the Oracle Software file structure you wish to use. You may use OFA, or not. But identify where all the files (dbf, ctl, ora, etc.) will go on the servers. If you don't use OFA, then support your decisions. Define the tablespaces and prov..
What are the formula in the operation of fraction : What are the formula in the operation of fraction and how will i apply the operation of fraction on word problems
How recording this revenue in december would affect ratio : Discuss whether it is ethical to record the revenue transaction in December. Identify the accounting principle relevant to this situation, and give the reasons underlying your conclusion.
What is not a characteristic of a random data series? : What is not a characteristic of a random data series?

Reviews

Write a Review

Macroeconomics Questions & Answers

  Mcburger hires you as a consultant to advise on its best

Where the independent variables are respectively: P, price of McBurger’s burgers, PC, price of competitors' burgers, Y, per capita income, and A, McBurger’s advertising budget.You observe that competitors have, on average, priced their burgers at $3...

  Interest rate 8% per year compounded annually

Given the following information, if the loan is paid by a uniform annual payment scheme, determine the value of A, B, and C.

  A decision by the us to utilize fiscal policy to run first

A decision by the U.S. to utilize fiscal policy to run a fiscal deficit, chiefly through unprecedented heavy spending, to stimulate the US economy

  Calculation of total factor productivity growth

Calculate total factor productivity growth (our measure of technological progress) for each country using the growth accounting framework discussed in class.

  Determine the amount of depreciation that is allowed during

You purchased a commercial warehouse in March 2010. The cost of property was $200,000 which includes $25,000 for the value of the land. Determine the amount of depreciation that is allowed during the first year of ownership.

  What is megabuss prot from price discriminating

What is Megabus's prot from price discriminating? If Megabus could not price discriminate, they would have to set one price for both students and non-students. What demand curve does Megabus face if they cannot price discriminate? What is Megabus'..

  Elucidate why a decrease in aggregate demand results

Elucidate why a decrease in aggregate demand results in a lower level of employment, given a fixed aggregate supply.

  Draw the relavant isoquant map

Draw the relavant isoquant map and isocost line if the cost of labor is $4 per work-hour and the cost of glass is $4 per pound and 90 light bulds are to be produced. What is the cost minimizing combination of glass and labor.

  Why is mtv so profitable relative to the major networks

Television channel operating profits vary from as high as 45 to 55 percent at MTV and Nickelodeon down to 12 to 18 percent at NBC and ABC. Provide a Porter Five Forces analysis of each type of network. Why is MTV so profitable relative to the majo..

  Economy could slip into another recession

The U.S. Congress has done a good job at not spooking the markets. If the markets believed that the Fed would be raising the interest rates, the economy could slip into another recession.

  Determine value of the firm before the debt equity swap

Raymond producing is a privately held corporation; all long-term finances are from the Raymond brothers in the form of equity interests.

  Concept of price elasticity of demand and total revenue

In an article about the financial problems of USA Today, Newsweek, reported that the paper was losing about $20 million a year.

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