Calculate nominal gdp for 2011

Reference no: EM131309206

Artica is a nation with a simple economy that produces only six goods: oranges, bicycles, magazines, paper, orange juice, and hats. Assume that half of all the oranges are used to produce orange juice and one-third of all the paper is used to produce magazines.

a. Use the production and price information in the table to calculate nominal GDP for 2011.

b. Use the production and price information in the table to calculate real GDP for 2009, 2010, and 2011 using 2009 as the base year. What is the growth rate of real GDP from 2009 to 2010 and from 2010 to 2011?

c. Use the production and price information in the table to calculate real GDP for 2009, 2010, and 2011 using 2010 as the base year. What is the growth rate of real GDP from 2009 to 2010 and from 2010 to 2011?

Reference no: EM131309206

Questions Cloud

Calculate the value added of larson and of the restaurant : The restaurant sold all the wine to customers for $45 each. For the total wine production, calculate the value added of Larson and of the restaurant.

Talk about successful ehr implementation story : Talk about successful EHR implementation story either in United Arab Emirates or any other country you prefer to write about.

What was wrong with these arguments : What were the ethical principles violated in the interaction between patients and doctors?What other parties had interests in this case and what were these interests?What were the arguments used by the defenders of the study to justify its execution?

Important aspect of being a valuable project manager : An extremely important aspect of being a valuable project manager within an organization is the ability to offer advice to decision makers about whether or not to pursue a project in the first place. As such, the first step in project management ..

Calculate nominal gdp for 2011 : Use the production and price information in the table to calculate nominal GDP for 2011.

Idea of functionalism and its relationship : In reflecting upon the idea of functionalism and its relationship to social stability in society, do you agree with concept of the model? In your discussion, specifically address the idea that because society's needs and individual's needs are sim..

Write command that will remove barry from the student table : Write a command that will remove Barry from the Student table. Write statement to add an attribute, Class to the Student table? What is the smallest section number used in the FALL-2014 semester?

Create a security training plan-related monitoring tools : The purpose of this assignment is to create a security training plan and related monitoring tools. Assignment Description:

Distinguish the role as clinical or non-clinical : In the Project synthesize what you have discovered about the different advanced practice roles and scope of practice found in the master of nursing curriculum: NP, nurse educator, nurse informaticist, and nurse administrator.

User Account

All Pages