Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Economics


Home >> Microeconomics

If the national GDP is $559 billion in the base year, and it rises to 577 in year i, and 605 in year 2, what is the real GDP in each year, given that the price index has risen from 100 to 104.5 in the first year and up to 108.3 in the second year ?
If the price index 20 years before the base year was 41.2 and the nominal GDP for 20 years before the base year was 191.0, what was the real GDP for that year ? Show your work in all cases. 

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91297594
  • Price:- $20

Guranteed 24 Hours Delivery, In Price:- $20

Have any Question?


Related Questions in Microeconomics

Question what could the government do to try and keep the

Question: What could the government do to try and keep the economy from entering a recession because of the adverse supply shock? Depict this graphically. (Alternatively - what has to shift in response to a negative supp ...

Question the directors of ace airlines have decided to

Question: The directors of Ace Airlines have decided to incentivize their 1,000 employees by issuing every one of them 200 shares of stock. (Assume there is no problem of equity dilution, because the company has 40 milli ...

Question market price is 50 the firms marginal cost curve

Question: Market price is $50. The firm's marginal cost curve is given by MC = 10 + 2Q. a. Find the profit-maximizing output for the firm. b. At this output, is the firm making a profit? Explain your answer. The response ...

Question consider the following probability density

Question: Consider the following probability density function for the random variable x: a. Suppose a random sample of 5 observations on x yields data 1, .8, 1.3, 1.6, 2. What is the maximum likelihood estimate for θ? b. ...

Question gomez runs a small pottery firm he hires one

Question: Gomez runs a small pottery firm. He hires one helper at $12,000 per year, pays annual rent of $5,000 for his shop, and spends $20,000 per year on materials. He has $40,000 of his own funds invested in equipment ...

Question explain how labour productivity is determined in

Question: Explain how labour productivity is determined. In your answer address why human capital is considered to be so vital to lifting labour productivity levels. To illustrate your understanding provide an example. Y ...

Question discuss the likely effect of each of the following

Question: Discuss the likely effect of each of the following on the unemployment rate: a. The length of time workers are eligible to receive unemployment insurance payments doubles. b. The minimum wage is abolished. c. M ...

Question - the federal government recently decided to raise

Question - The federal government recently decided to raise the excise tax on hard liquor. a. Graphically illustrate the effects of this tax on the market for hard liquor. b. Would a $1 increase in the excise tax on liqu ...

Question in the early 1990s mit economist lester thurow

Question: In the early 1990s, MIT economist Lester Thurow wrote that of the three major powers in the world economy in the twenty-first century, Europe would be the leader. However, its growth rate fell far behind the US ...

Question consider an economy described by the followingbull

Question: Consider an economy described by the following: • autonomous consumption=C (bar) = 2.25 trillion • autonomous investments=I (bar) = 1.3 trillion • government purchases=G = 3.6 trillion • taxes=T = 3 trillion • ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved