Calculate the rate of growth of real gdp

Assignment Help Macroeconomics
Reference no: EM13841643

Expenditure Component of GDP and Nominal vs. Real GDP

GDP Data






Year

 Nominal GDP

GDP Deflator

Year

 Nominal GDP

GDP Deflator

1969

 $     984.40

23.130

1991

 $  5,992.10

74.826

1970

 $  1,038.30

24.349

1992

 $  6,342.30

76.602

1971

 $  1,126.80

25.567

1993

 $  6,667.40

78.288

1972

 $  1,237.90

26.670

1994

 $  7,085.20

79.935

1973

 $  1,382.30

28.148

1995

 $  7,414.70

81.602

1974

 $  1,499.50

30.695

1996

 $  7,838.50

83.154

1975

 $  1,637.70

33.606

1997

 $  8,332.40

84.627

1976

 $  1,824.60

35.535

1998

 $  8,793.50

85.580

1977

 $  2,030.10

37.796

1999

 $  9,353.50

86.840

1978

 $  2,293.80

40.447

2000

 $  9,951.50

88.724

1979

 $  2,562.20

43.811

2001

 $10,286.20

90.731

1980

 $  2,788.10

47.817

2002

 $10,642.30

92.192

1981

 $  3,126.80

52.326

2003

 $11,142.20

94.134

1982

 $  3,253.20

55.514

2004

 $11,853.30

96.784

1983

 $  3,534.60

57.705

2005

 $12,623.00

100.000

1984

 $  3,930.90

59.874

2006

 $13,377.20

103.237

1985

 $  4,217.50

61.686

2007

 $14,028.70

106.231

1986

 $  4,460.10

63.057

2008

 $14,291.50

108.565

1987

 $  4,736.40

64.818

2009

 $13,973.70

109.532

1988

 $  5,100.40

67.047

2010

 $14,498.90

111.002

1989

 $  5,482.10

69.579

2011

 $15,075.70

113.369

1990

 $  5,800.50

72.274

2012

 $15,684.80

115.388

1. Show nominal GDP, the GDP price index for the data above for any 10 years; make sure that one of the years is the base year. Put both real and nominal GDP I the same graph.

2. Calculate the rate of growth of real GDP and show in the table below and draw the graph

Reference no: EM13841643

Questions Cloud

Produce a project plan for building a house : Produce a project plan for building a house. Follow the phases and tasks shown on the web page. You can click on each to see background information on that phase or task, so you can better understand it
Data management-erd diagram definition : The entity relationship diagram is crucial to the  creation of a successfully implemented application and database. A good understanding of how to identify the components that define the Entity Relationship Diagram is needed. Select one of the fol..
The fed raise the federal funds rate : What were the immediate consequences of this decision on the financial markets on Thursday and Friday. Was this anticipated to be the reaction. If the Fed was convinced that the economy was developing moderately, why not raise rates and why should..
E-commerce transaction : Question 1: Suspicious e-commerce transaction includes orders placed by a customer in one country that are shipped to another country. In fact there are no such orders in the Northwind db,  so create a few by modifying some of the "Germany
Calculate the rate of growth of real gdp : Show nominal GDP, the GDP price index for the data above for any 10 years; make sure that one of the years is the base year. Put both real and nominal GDP I the same graph.
Does descartes believe in god? : Does Descartes believe in God?
Draw the different components of gdp : What are the two accounts of an economic system and List all the components on both sides as they appear in the text - Compute the total GDP
Assess financial performance and condition of organization : Assess the financial performance and condition of the organization
Explain what is happening between growth and change in bts : Explain what is happening between growth and change in BTS. Compare this with what Malhotra and Hinings indicate about continuity and change (Reading 9) (500-600 words).

Reviews

Write a Review

Macroeconomics Questions & Answers

  How many popcycles will be sold each dayin the short run

Currently, at a price of $1 each, 100 popcycles are sold per day in the perpetually hot town of Rostin. Consider the elastictiy of supply. In the short run, a price increase from $1 to $2 is unit-elastic (Es==1.0). How many popcycles will be sold eac..

  Simple keynesian consumption function

Why would the simple Keynesian consumption function predict that this strategy would work and the nominal interest rate cannot fall below zero. What might the Fed do to try to achieve the optimal real interest rate you calculate in Part b?

  Wealth in the united states has grown steadily

Wealth in the United States has grown steadily. If wealth were the only factor affecting currency demand, what do you expect would have happened to the currency-deposit ratio over time?

  How does the analysis of your opportunity costs explain your

How does the analysis of your opportunity costs explain your decision to seek an education?

  The aggregate demand curve on potential output

5. (Changes in Aggregate Supply) List three factors that can change the economy's potential output. What is the impact of shifts of the aggregate demand curve on potential output? Illustrate your answer with a diagram.

  Utilizing an aggregate supply and aggregate demand

Utilizing an aggregate supply and aggregate demand diagram, show why this self-correcting process involves only temporary periods of inflation or deflation.

  Economic statements about purely competitive firms

Assume that a price support system for cotton requires the federal government to pay farmers $3,000 for each acre to not plant cotton. How would you shift either the supply or demand curve for cotton to describe the effect of this action? In your a..

  How will the action in wisconsin hinder or boost the labor

The other event is the successful effort in Wisconsin to curb the power of labor unions representing State workers in that State. Similar efforts have been made in other States. In Wisconsin, workers have been forced to give up most rights to barg..

  Suppose the firm mark up over the cost is 10 and the wage

suppose the firm mark up over the cost is 10 and the wage setting equation is wp 1-u where u is the unemployment rate.a

  How managers would use the cost-benefit analysis

Provide a cost-benefit analysis for a company which has to decide whether to hire more staff or hire temporary workers to meet production schedules. Determine how managers would use your cost-benefit analysis to make this decision.

  Determine the cost to the government of buying firms

Consider a market where supply and demand are given Qx^s=-10 +Px and Qx^d= 56-2Px. Suppose the government imposes a price floor of $25, and agrees to purchase any and all units concumers do not buy at the floor price of $235 per unit. a. Determine..

  Second quarter on strong organization wide sales growth

second quarter on strong organization wide sales growth, beating Wall's Street's expectations. What happened to their stock after the announcement.

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!

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