Suppose nominal gdp in 1999 was 100 billion also in 2001 it, Ask an Expert

Economics

Q1. Suppose nominal GDP in 1999 was $100 billion also in 2001 it was $260 billion. The general price index in 1999 was 100 also in 2001 it was 180. Between 1999 also 2001 the real GDP rose by illustrate what percent? 1st, we need to adjust the 2001 GDP to 1999 prices. Since nominal GDP = P x real GDP, we can convert nominal GDP to real GDP using the formula real GDP = nominal GDP/P. So we have: 260/1.8= 144.44

Q2. Suppose QXd = 10,000 - 2 PX + 3 PY - 4.5M, where PX = $100, PY = $50 also M = $2,000. Illustrate what is the own-price elasticity of demand?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M9164279

Have any Question?Write your Review or question?

Related Questions in Business Economics

1 you are lost on the mythy island in the summer when

1. You are lost on the Mythy Island in the summer, when tourists are two-thirds of the population. If you ask a tourist for direction the answer is correct with probability ¾; answers to repeated questions are independen ...

An assembly plant receives its voltage regulator from two

An assembly plant receives its voltage regulator from two different suppliers: 75 percent comes from Hayes Voltage Co. and 25 percent comes from Roming Voltage Co. The percentage of voltage regulators from Hayes that per ...

Calculate the present worth of all costs for a

Calculate the present worth of all costs for a newly acquired machine with an initial cost of $30,000, no trade-in value, a life of 15 years, and an annual operating cost of $13,000 for the first 4 years, increasing by 1 ...

Consider a french-owned cheese factory located in paris

Consider a French-owned cheese factory located in Paris, France. Are the goods made by the cheese factory part of the U.S. Gross Domestic Product (GDP)? Are these goods included in the U.S. Gross National Product (GNP)? ...

I need some help trying to understand this statistics

I need some help trying to understand this Statistics question For a normal distribution, identify the z -score location that would separate the distribution into two sections, as determined by the following percentages ...

What is the factors that determine wages which are largely

What is the factors that determine wages which are largely responsible for determining how the economy's total income is distributed among the various members of society?

If a woman takes an early pregnancy test she will either

If a woman takes an early pregnancy test, she will either test positive, meaning that the Suppose that if a woman really is pregnant, there is a 98% chance that she will test test says she is pregnant, or test negative, ...

A monopolist faces a market demand curve given by py 100 y

A monopolist faces a market demand curve given by P(y) = 100 y. Its cost function is c(y) = y 2 + 20. (a) Find its profit - maximizing output level y and the market price p(y ). (b) Calculate its total revenue, total cos ...

The average or par score for an 18 hole golf course is

The average, or "par" score for an 18 hole golf course is 72. The score is computed by counting the number of swings, or "strokes" a player must make with their club to hit the ball into each of the 18 holes on the golf ...

Give examples of how dominos has adapted its global

Give examples of how Domino's has adapted its global marketing mix to meet the needs of local consumers. Are you their customer? If so, why?

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

Recent Questions

Ask Business Economics Expert