Percentage change in nominal gdp

Assignment Help Business Economics
Reference no: EM1312213

Q1. Twenty years ago a stove cost $300 also a refrigerator cost $1,500. Today a stove costs $600, while a refrigerator costs $1,800. Which of the following statements is true?

Q2. Below are some data from the land of milk & honey.

Year Price of Quantity of Price of Quantity of
Milk Milk (quartz) Honey Honey (quartz)
2001 $1 100 $2 50
2002 1 200 2 100
2003 2 200 4 100

b) Calculate the percentage change in nominal GDP, real GDP also the GDP deflator in 2002 also 2003 from the preceding year. For every year, identify the variable that does not change. Elucidate in words why your answer makes sense.

Reference no: EM1312213

Questions Cloud

Determining mean of money withdrawn from atms : If random sample of thirty six customer transactions points out that sample mean withdrawal amount is $172, is there evidence to think that population mean withdrawal amount is no longer $160? Determine the mean of data above?
Evaluate the amount of money in a savings account : Evaluate the amount of money in a savings account at the end of five years given an initial deposit of $3,000 and an 8 percent annual interest rate when interest is compounded (a) annually, (b) semiannually, and (c) quarterly.
Confidence interval and population mean : Determine a 95% confidence interval for the population mean.
Estimate equilibrium price and output : Compute the monopoly equilibrium. Compute the consumer surplus. Assume this firm practices two-parts tariffs, Compute the optimal output.
Percentage change in nominal gdp : Calculate the percentage change in nominal GDP, real GDP also the GDP deflator in 2002 also 2003 from the preceding year.
Evaluate the break-even corporate tax rate : Evaluate the break-even corporate tax rate which makes the company indifferent between the two investments?
Testing of the hypothesis : Describing how you would test the hypothesis. Start by examining the living species around you. Ever wonder why the pollinator is attracted to the particular flower.
Determine the break-even corporate tax rate : Determine the break-even corporate tax rate which makes the company indifferent between the two investments and Calculation of Capital Budgeting
Determined the multiple cash flows for a year : Determined the multiple cash flows for a year and the semi-annual annuity payment that will pay off over six years, a $9,860 debt owed today if R=13%

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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