User Account

All Pages

What is the real gdp for econoland

Assignment Help Macroeconomics
Reference no: EM131660202

Assignment

1. Which of the following are included in GDP and which are not? If an item is included, state which GDP category it falls under (consumption, investment, government, trade balance)

a) the cost of having your appendix removed
b) buying a new car from a dealership
c) buying a used car from your neighbor
d) the lettuce sold to the sub shop that will go on your sandwich
e) babysitting services at a licensed day care provider
f) babysitting services provided by your cousin
g) a 2 year increase in life expectancy

2. The nation of Econoland had a Nominal GDP of $1,200,000 in 2005 with a price index of 1.1. The same nation had a Nominal GDP of $2,000,000 in 2006 with a price index of 1.9.

a) What is the Real GDP for Econoland in 2005 and in 2006?
b) Explain how it's possible that Nominal GDP can rise while Real GDP can fall.

Reference no: EM131660202

Questions Cloud

Liability-in case of a forged drawer signature on a check : On whom can liability be imposed in the case of a forged drawer's signature on a check? What are the limits set by Section 4-406(f) of the Uniform Commercial.
How would you evaluate whole foods growth strategy : How would you evaluate Whole Foods' growth strategy? How would you evaluate Whole Foods' performance over past few years?
Impact of potential risks with current network setup : For the Amazon.com organization, identify and assess impact of potential risks with current network setup.
Pay-per-use computing model : Cloud computing, which is a pay-per-use computing model in which customers pay only for the computing resources they need, is emerging as a potentially
What is the real gdp for econoland : What is the Real GDP for Econoland in 2005 and in 2006? Explain how it's possible that Nominal GDP can rise while Real GDP can fall.
On what basis could the bank avoid liability : A SunTrust employee became suspicious of an item that required sight inspection under the bank's fraud detection standards, which exceeded those of other banks.
How will my audience react to what i am trying to achieve : How will my audience react to what I am trying to achieve? Will my message be resisted? What do I know about my audience that will help me tailor my message?
Review case related to the forged indorsement : Forged Indorsement. Visiting Nurses Association of Telfair County, Inc. (VNA), maintained a checking account at Security State Bank in Valdosta, Georgia.
Flow balanced bipartitioning : What is the space complexity (not runtime complexity) of the FBB (Flow Balanced Bipartitioning) algorithm?

Reviews

Write a Review

Macroeconomics Questions & Answers

  Inflation targeting be a good policy

Why might it be difficult for the Fed to formally adopt inflation targeting?  Would inflation targeting be a good policy for the Fed in the present economic environment

  In using the taylor rule

In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables?

  Describe the present economic crisis situation in europe

Describe the present economic crisis situation in Europe.  Why has it been so difficult for the Europeans to find a solution to this problem?   Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..

  Long-term federal government budget problems

Question:. Explain why there are long-term Federal government budget problems. Explain why the base-line forecast of the CBO is misleading.

  Derive and compare demand curve

Question based on Derive and compare demand curve,  Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?

  Problem based on utility function

Problem based on  Utility Function - Problem,  Answer and explain the following using a diagram which is completely labeled.

  Laffer curve : tax rate and tax revenue

Question based on Laffer Curve : Tax Rate and Tax Revenue,  Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?

  Problem - income elasticity of demand

Problem - Income Elasticity of Demand,  Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5

  Positive balance of payment

Question Positive Balance of Payment: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments."

  Effect of recession on the investment curve

Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate in the financial crisis that hits United States first starting in fall 2007.

  Affect of falling domestic investment on trade surplus and

How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world.

  Crises in the banking sector and bank run

Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?

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