Assignment
QUESTION 1
Coconut Producers' balance sheets:
• Total Revenues = $20
• Wages = $5
• Taxes = $1.5
• Interest on Loans $0.5
What is the Coconut Producer contribution's to GDP using the Value Added Approach?
QUESTION 2
Coconut Producers' balance sheets:
• Total Revenues = $20
• Wages = $5
• Taxes = $1.5
• Interest on Loans $0.5
What is the Coconut Producer contribution's to GDP using the Expenditure Approach?
QUESTION 3
Coconut Producers' balance sheets:
• Total Revenues = $20
• Wages = $5
• Taxes = $1.5
• Interest on Loans $0.5
What is the Coconut Producer contribution's to GDP using the Income Approach?
QUESTION 4
Car Producers' balance sheets:
o Total Revenues = $100
o Steel Purchases = $30
o Wages = $35
o Taxes = $10
o Interest on Loans $2
What is the Car Producers' contribution's to GDP using the Income Approach?
QUESTION 5
Car Producers' balance sheets:
o Total Revenues = $100
o Steel Purchases = $30
o Wages = $35
o Taxes = $10
o Interest on Loans $2
What is the Car Producers' contribution's to GDP using the Value Added Approach?
QUESTION 6
Car Producers' balance sheets:
o Total Revenues = $100
o Steel Purchases = $30
o Wages = $35
o Taxes = $10
o Interest on Loans $2
What is the Car Producers' contribution's to GDP using the Expenditure Approach?
QUESTION 7
Consider the following Economy in which only cars and bananas are produced
Year 1
Quantity Price
Cars 1000 $100
Bananas 7000 $1
Year 2
Quantity Price
Cars 980 $110
Bananas 9000 $0.9
Nominal GDP Year 1 =
Nominal GDP Year 2 =
QUESTION 8
Consider the following Economy in which only cars and bananas are produced
Year 1
|
|
Quantity
|
Price
|
|
Cars
|
1000
|
$100
|
|
Bananas
|
7000
|
$1
|
Year 2
|
|
Quantity
|
Price
|
|
Cars
|
980
|
$110
|
|
Bananas
|
9000
|
$0.9
|
Real GDP Year 1 = (Using Year 1's prices)
Real GDP Year 2 = (Using Year 1's prices)
Inflation Rate between Year 2 and Year 1 = (using Chain-Weighting, your answer has to be a percentage - for example +5.2%. Stop at the first decimal sign!)
QUESTION 9
Consider the following diagram representing GDP per capita's Cyclical Component as % of Trend:
If you focus on the great recession, you notice that...
GDP per capita growth has been negative since 2008
The Great Recession is similar to what happened in the 60s
Growth has not been sufficient to bring the GDP per capita back to its trend level before the great recession
The Great Recession is similar to what happened in the 80s.