Gdp growth with both output and prices

Assignment Help Business Economics

Reference no: EM13851180

Please answer the GDP question

A) In GDP is $5 trillion in Yr 1 and $5.4 trillion one year later. What is the GDP growth rate?

B) If rGDP in Yr 1 was also $5 trillion what can you say about Yr1?

C) If rGDP grew 5% between Yr. 1 and Yr. 2 what did GDP prices do?

(Hint: use part A. If you know GDP growth with both output and prices and now you now output by itself, what must prices have done?).

Reference no: EM13851180

Questions Cloud

Do you think in legal matters and health matters : Do you think in legal matters and health matters and so forth people should be economically valued differently? or should there be one standard amount each person is worth/

Government pays an economist-retirement benefits : The U.S. government pays an economist at the U.S. Department of Commerce $50,000 in salary in 2006. The economist then retires. In 2007, the government pays him $30,000 in retirement benefits. The 2006 payment is included in 2006 GDP as government pu..

Write a report for each case during the breakup sessions : You need to write a report (around 1000 words) for each case during the breakup sessions. No reports will be accepted out of the Breakup Sessions.

Determine whether your foreign stock prices : Determine whether your foreign stock prices are highly correlated. Repeat the process just described, except insert the symbol representing one of the foreign stocks you own in the box below the chart.

Gdp growth with both output and prices : In GDP is $5 trillion in Yr 1 and $5.4 trillion one year later. What is the GDP growth rate? If rGDP in Yr 1 was also $5 trillion what can you say about Yr1? If rGDP grew 5% between Yr. 1 and Yr. 2 what did GDP prices do?

Previously mentioned transactions : In 2013, the furniture store PB produced 13 mahogany desks. One of them is sold to Jeanine for $3,349, later that same year Jeanine sold the desk to Pamela for $1,919. The remaining desks were not sold to anyone that year and stay in PB's inventory a..

Discuss negative reinforcement and intrinsic reinforcement : Discuss the following concepts and provide an example (not given in the textbook) for each as it relates to the developmental-behavioral approach. Negative reinforcement, Intrinsic reinforcement, Positive reinforcement and Natural and logical conse..

Find the stationary points : Find the stationary points

Gdp will be underestimated or overestimated : Determine whether GDP will be underestimated or overestimated in each of the following:

User Account

All Pages