Reference no: EM131756922
The economy of Utopia produces three goods: Computers, DVDs, and Pizzas. The table below shows the prices and output of the three goods for the years 2014, 2015, and 2016.
Computers DVDs Pizzas
Year Price Quantity Price Quantity Price Quantity
2014 $900 10 $10 100 $15 2
2015 $1,000 10.5 $12 105 $16 2
2016 $1,050 12 $14 110 $17 3
a. Calculate the nominal GDP for Utopia for each of the three years.
b. What is the percentage change in nominal GDP from 2015 to 2016.
c. Calculate the real GDP for Utopia using 2014 prices (2014=base year) for each of the three years.
d. What is the percentage change in real GDP from 2015 to 2016.
e. Discuss why economists consider real GDP a more accurate measure of growth in the economy?
-You should construct a table like the one below and fill in the blanks to answer the questions.
Year Nominal GDP Growth rate Real GDP Growth rate
2014 ------ N/A ------- N/A
2015 ------ ------ ------- -------
2016 ------ ------ ------- -------
|
Discuss the unique dilemmas health care organizations face
: Assignment: Performance Management and Compensation. Discuss some of the unique dilemmas health care organizations face when creating a compensation system.
|
|
Primary deficit is equal
: How much does the government owe at the start of period 2 if the primary deficit is equal to $25?
|
|
Assume an economy exists for 3 periods
: The government's budget balance in period 1 is $150 and the present discounted value of the government's budget balance in period 2 is -$110.
|
|
Changes in literature and art
: The spread of Buddhism in China brought changes in religious ideas and practices, changes in literature and art, and changes in the values and daily lives
|
|
Prices and output of three goods for years
: Computers, DVDs, and Pizzas. The table below shows the prices and output of the three goods for the years 2014, 2015, and 2016.
|
|
What accommodations could have been made for ms doris
: Should Doris's condition be considered a disability? If so, what, if any, accommodations could have been made for Ms. Doris?
|
|
Relationship between marginal propensity
: Describe the relationship between marginal propensity to consume (MPC) and multiplier (m).
|
|
Discuss about the nervous system
: Differentiate between the two major parts of the nervous system (Central versus Peripheral) in terms of their structures, substructures and functions.
|
|
Claim in the article about texting versus calling
: Do these data support the claim in the article about texting versus calling? Justify your answer with appropriate evidence.
|