Expenditures on a nation's domestic production. The price level fell 6% between 2040 and 2050, and population growth was 4%. 87.5 b. $100 trillion.c. $2.5 trillion. a. 25 40 250 400 Question 2 Suppose An Economy Produces Only Burgers And Bags Of Fries. b. The mayor gave the winner a blue ribbon which kind of complement is the word in bold ... What happens to a hydrogen atom in an acid when the acid is dissolved in water ... How many more immigrant asylumns do we have in 2018, in comparison to 2008? 86. Performance & security by Cloudflare, Please complete the security check to access. Suppose that this year’s money supply is $500 billion, nominal GDP is $10 trillion, and real GDP is $5 trillion. 0 0 Comment. If in some year nominal gdp was trillion and real gdp was trillion, what was the gdp deflator? Suppose that nominal GDP was $10 trillion in 2040 in Atlantis. I tried to do this: (14.4 / 1.1848) / 10.6 = 14.66% is this right? The current base year is 2012. Answered by prasanna2. b. In our base-case projections, GDP will grow from $2.7 trillion in 2019 to $5 trillion by 2025 and $8.4 trillion by 2030. If in some year real GDP was $5 trillion and the GDP deflator was 200, what was nominal GDP? The price level fell 6% between 2040 and … a. GDP Deflator= (Nomial GDP÷ Real GDP)×100 =(10÷4)×100 THUS GDP deflator = 250 . Real GDP is $9 trillion. If in some year nominal GDP was $28 trillion and real GDP was $32 trillion, what was the GDP deflator ? a. S (3 Points) Enter your answer 26 Unemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills is … If nominal GDP rises from $10 trillion to $12 trillion, while the GDP deflator rises from 2.0 to 2.2, the percentage change in real GDP is: Answer is 9.1%, help me solve this please Suppose that nominal GDP was $10 trillion in 2040 in Atlantis. Business. $10 trillion. Suppose an economy produces only eggs and ham. In the same period prices rose on average by roughly 11.11 percent. If in some year nominal GDP was $10 trillion and real GDP was $4 trillion, what was the GDP deflator? View Homework Help - MU.33.1 from ECO 212 Economics at University of Phoenix. Tuvalu has the world's smallest national economy with a GDP (nominal) of approximately $42 million. Fixed cost $500 Marginal cost $10 Item sells for 30$ What is the cost function ... A new rumor sweeps the country that eggs are great diet food and they don't even raise cholesterol levels. Quantities and prices of these goods for the last several years are shown below. a. b.80, and this indicates that the price level has increased by 80 percent since the base year. c. $40 trillion. Only authorized users can leave an answer! =(10÷4)×100 Year Real GDP Price Index Nominal GDP 1970 100 50 1980 300 300 1990 200 2.400 2000 1,000 3,000 4. Thank you Suppose that in 1984 the total output in a single-good economy was 7,000 buckets of chicken. Social Security payments are Forgot password, Added 2019-02-06 06:05:56 subject Business (School) by ladybuggg7879, GDP Deflator= (Nomial GDP÷ Real GDP)×100 Also suppose that in 1984 each bucket of chicken was priced at $10. The nominal GDP is the current market prices. Explanation: GDP deflator can be calculated by dividing total value of nominal GDP by value of real GDP and multiplying it by 100. ... Only authorized users can leave an answer. And this nominal GDP, uh, this Ryuji TB is going to rice by five person. Suppose that velocity is constant and the economy’s output of goods and services rises by 5 percent each year.   You'll notice that nominal and real GDP are the same in 2012. If you are not satisfied with the answer or you can’t find one, then try to use the search above or find similar answers below. Looking at 10-year stretches of growth, India’s gross domestic product (GDP) in nominal terms doubled in the 10 years from 2007 to 2017 to $2.6 trillion. Suppose an economy produces only eggs and ham. If in some year nominal gdp was $10 trillion and real gdp was $4 trillion, what was the gdp deflator? Real GDP is $9 trillion. In 2050, nominal GDP was $15 trillion in Atlantis. In flowers for algeron use a sentence with naivete to prove that doctor strauss operation was not perment ... A surf shop charges $85 for surfing lessons and $35 per hour to rent a surfboard. If in some year real gdp was $5 trillion and the gdp deflator was 200, what was nominal gdp?a. You may need to download version 2.0 now from the Chrome Web Store. Which scenario might have taken place at a southern state polling center in the wake of the Fifteenth Amendment being ratified ? $2.5 trillion. c. $40 trillion. ... Kamath said given the size of some NBFCs, the regulators think and believe that they should not pose a systemic risk. In World Factbook estimates, Niue, small island nation in the South Pacific Ocean, is the smallest economy with GDP of $10 mn in year 2003. In 2009, 100 dozen eggs are sold at $3 per dozen and 50 pounds of ham sold at $4 per pound. a.87.5 b.114.3 c.400 d.896 32. Answer. What is the price level? a. Answer to: If in some year real GDP was $15 trillion and the GDP deflator was 300, what was nominal GDP? 250. Which of the following is an economic resource a.money b. If nominal GDP is $8 trillion and real GDP is $10 trillion, then the GDP deflator is a.80, and this indicates that the price level has decreased by 20 percent since the base year. What will happen to nominal Also suppose that in 1984 each bucket of chicken was priced at $10. Answer to: Suppose that this year's money supply is $2 trillion, nominal GDP is $8 trillion, and real GDP is $4 trillion. $10 trillion c. $40 trillion d. $100 trillion Table 23-4 The country of Caspir produces only cereal and milk. d. $10 trillion. $10 trillion. Real GDP is the output effected by price. In order to include many different goods and services in an aggregate measure, GDP is computed using, primarily, A. market prices. Nominal Gross Domestic Product (GDP) and Real GDP both quantify the total value of all goods produced in a country in a year. If in some year real GDP was $5 trillion and the GDP deflator was 200, what was nominal GDP? • So we know that velocity is constant and the money supply is constant. b. Your IP: 128.199.148.231 To calculate real GDP, the BEA starts with a reference year. If in some year real gdp was $5 trillion and the gdp deflator was 200, what was nominal gdp? 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