User Account

All Pages

Draw the different components of gdp

Assignment Help Microeconomics
Reference no: EM13841641

1. What are the two accounts of an economic system (be sure to identify which account is the source and which is the use of funds)? List all the components on both sides as they appear in the text.

Table 1:  US Nominal GDP broken down by Component (Dept. Of Commerce Data)

Year

C

I

G

(X-M)

Nominal GDP

t-2

$100

$55

$50

$5

 

 

t-1

$175

$65

$60

$10

 

 

t0

$250

$75

$70

$5

 

 

t+1

$500

$85

$80

$0

 

 

t+2

$700

$95

$90

($5)

 

 

2. Compute the total (nominal) GDP for the selected years in Table 1 above.

3. (i)  Draw the different components of GDP for the selected years in a graph.

(ii) Draw the aggregate GDP for the selected years in a graph

4. What is equation for an index number in general?  For a Price index? For a quantity index?

5. Using the data below calculate the growth rate for any four regions across both sets of dates: period 1 from 1982 t0 1950 and period 2 from 1950 to 2009.  Also calculate the average growth rate of the period. 

Use the formula:

gy = 1/T[ln(YT)- ln(Y0)]

 

Growth Rates

1820-1950         1950-2009

Income Levels (in 1990 ire! $)

1820                   1950           2007

The %odd

0.9

2.1

$675

$2,108

$7,300

W. Europe

1.1

2.6

1,202

4,578

21,200

 

N. Am erica

1.6

2.0

1,253

9,463

31,000

Japan

0.8

4.8

660

1,921

22,500

E. Europe

1.1

2.2

683

2,111

7,600

Form er USSR

1.8

1.5

700

2,600

6,800

Latin America

1.0

1.6

691

2,503

6,500

China

-0.2

4.4

600

448

6,050

East Asia

0.3

3.5

500

668

5,300

Africa

0.6

1.1

420

1,307

1,700

Reference no: EM13841641

Questions Cloud

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).
Characteristics of effective early childhood teachers : Characteristics of Effective Early Childhood Teachers
Capital project analysis failure : Synthesize your one-paragraph position on what 3-5 specific factors you believe most likely to contribute to capital project analysis failure.

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

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