What was the constant dollar percent increase in gdp

Assignment Help Microeconomics

Reference no: EM13698154

In 1988 the US gross domestic product (GDP) increased to $4.90 trillion at year end, from the 1987 year end level of 4.54 trillion in actual escalated dollar values. In the same year, the consumer price index rose approximately 4%. What was the constant (real) dollar percent increase in GDP?

Reference no: EM13698154

Questions Cloud

Assume the firms current capital stock is fixed : A steel producer has the production function q=10K^0.75 E^0.25 where q is the quantity of steel, in metric tons, K is the firm's capital stock, and E is the number of labor hours it employs (measured in thousands).

Transportation is considering installing temperature logger : Atlas Transportation is considering installing temperature logger in all its refrigerated trucks for monitoring temperatures during transit. If the systems will reduce insurance claims by $40,000 per year for 5 years how much should the company be wi..

Semi annually through a company-sponsored saving plan : Ryan expects to deposit $1,000 now, $3,000 four years from now, and $1,500 six years from now in an account that is earning 12% per year compounded semi annually through a company-sponsored saving plan. What amount can he withdraw ten years from now?

What is future worth of a series of equal monthly payments : What is the future worth of a series of equal monthly payments of $5,000 if the series extends over a period of six years at 9% interest compounded?

What was the constant dollar percent increase in gdp : In 1988 the US gross domestic product (GDP) increased to $4.90 trillion at year end, from the 1987 year end level of 4.54 trillion in actual escalated dollar values. In the same year, the consumer price index rose approximately 4%. What was the const..

Determine the projects after-tax net present worth : A corporate expects to receive $34,688 each year for 15 years if a particular project is undertaken. There will be an initial investment of $122,261. The expenses associated with the project are expected to be $7,426 per year.

Best example of public good or quasi-public good : Which of the following is the best example of a public good (or quasi-public good)?

What is particular form of money-medium of exchange : What is the particular form of money (M1,M2, etc.) that would be the smallest measure that includes the type of money described in the article. (For example, if the article is about cash, write "M1." Although all other forms of money include cash, M1..

Government spending both mandatory and discretionary : What are the effects of increasing in government spending both mandatory and discretionary spending on US economy forecast ot grow by 1.5%

User Account

All Pages