I new official figures will number of real gdp for 1987

Assignment Help Microeconomics

Reference no: EM13389198

The commerce department announced that it is shifting from 1987 to 1992 as the base year for calculating the nation's real GDP and price index. The new figures will account for changes in consumers' tastes, technological advances, and other phenomena.

A: In the new official figures, will the number of real GDP for 1987 become larger, smaller, or stay the same as it was before the base was changed to 1992?

B: In the new official figures, will the 1992 real GDP number be larger, smaller, or the same as the 1992 nominal GDP?

C: What will the new 1992 price index number be?

D: Will the new 1987 price index number be larger, smaller, or the same it was before?

E: The clipping claims that consumer tastes and technological advances will be accounted for. How would this accounting be done?

Reference no: EM13389198

Questions Cloud

How would you estimate the demand of a new sports product : 1 how would you estimate the demand of a new sports product?2 of the three demand factors which do you think is the

Explain how can we recognize if the strategy is a part of : the process that a business takes in developing a strategy is one of the single most important tasks that a business

Does creation of part time jobs affect unemployment in same : nationally the monthly survey of american households found 387000 more people at work in february than in january but

Integrated marketing communications is using a consistent : nbsp1.the brand awareness represents the thoughts and feelings that consumers have when thinking about the

I new official figures will number of real gdp for 1987 : the commerce department announced that it is shifting from 1987 to 1992 as the base year for calculating the nations

What is the traditional payback period pb of a project : 1. a rm is evaluating an investment that costs 90000 and is expected to generate annual cash ows equal to 20000 for

The first step in creating the master budget is the sales : the first step in creating the master budget is the sales budget. describe this budget and the information it includes.

Dscribe the implications for these developments for firms : what will be the key developments in the global environment of business during the next five years? on the basis of

In which category or categories of national expenditures : a government report traces the economys stagnation in the last fifteen months to massive declines in spending on

User Account

All Pages