Year 1991 1997 Nominal GDP 425 550 a. O b. 125% O c. 0.77% O d. 29.4% O e. 1.294% none of the choices Real GDP 400 Using the table above, what is the growth rate of nominal GDP between 1991 and 1997? GDP Deflator (1981=100) 130 137.5
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- 4. Determine whether it shows a linear trend, quadratic trend or exponential trend (e.g. using the first differences, second differences or decay or growth factor) a) Year Goose Population 1 2 3 4 5 6 b) Year 0 1 2 3 4 1190 1250 1310 1380 1455 1530 New Teacher Hires 45 44 41 36 29Consider the average annual growth rate 5.93% of 2000-2005, and forecast the population in Abu Dhabi in 2011. Use the continuous compounding equation of growth. Year Abu Dhabi Nationals Non-nationals Total 1980 90,792 361,056 1985 135,982 430,054 1990 173,992 556,389 1995 222,627 719,836 2000 248690 846,267 2005 348048 1,049,207 UAE 451,848 1,016,789 566,036 1,350,433 730,381 1,811,457 942,463 2,350,192 3,050,127 4,481,976 6An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it grows at an annual rate of 2 for 20 years? 2 for 40 years? 4 for 40 years? 6 for 40 years?
- Why do you mink the U.S. experience with inflation over the last 50 years has been so much milder than in many other countries?Over the past 50 years, many countries have experienced an annual growth rate in real GDP per capita greater than that of the United States. Some examples are China, Japan, South Korea, and Taiwan. Does that mean the United States is regressing relative to other countries? Does that mean these countries will eventually overtake the United States in terms of the growth rate of real GDP per capita? Explain.Would you expect capital deepening to result in diminished1etmns? Why or why not? Would you expect improvements in technology to result in diminished returns? Why or why not?
- How is GDP per capita calculated differently from labor productivity?Practice 2 Sovyl Consider the following data on the X-product: 50 GDP deflator year price of X quantity of X Nominal GDP (base year 2005) 2010 $11.50 105,000 125 2011 $11.96 106,000 130 a) What was the growth rate of nominal GDP between 2010 and 2011? b) What was the growth rate of the GDP deflator between 2010 and 2011? c) What was real GDP in 2010 measured in 2005 price? d) What was real GDP in 2011 measured in 2005 price?Product Price Quantity Price Quantity in 2016 in in 2017 in 2016 2017 Milk 100 2 120 1.5 Textbook 50 50 40 70 Wheat 80 3 90 4 Based on the table above, what is the economic growth rate from 2016-2017 (using 2016 as the base year)? -16.35% -14.63% 13.61% 35.03%
- Compare the impact on economic growth of Covidien-19 outbreak on Turkey and South Korea. Use any of the 10 social and economic indicators when making this comparison. The indicators that you will use should be in ratio and/or percentage change format rather than nominal level.120 100F NOR ARE SGP CHE HKG SWE TWN Na. A VEN 40 60 80 100 120 Relatiwe GDP per enpita to the US lewel - 1970 In the figure above, GDP per capita relative to the US level for a large group of countries is plotted for years 1970 (in the horizontal axis) and 2000 (in the vertical axis). Which one of the following statements is correct? O Income per capita of countries on the 45 degree line has grown at a similar rate than income per capita of the US in each year. O Income per capita of each country is plotted according to how strongly it correlates to the income per capita of the US in each year. O The income per capita of those countries below the 45 degree line has grown the fastest in between years 1970 and 20 O The income per capita of those countries on the 45 degree line has not grown in between years 1970 and 2000.What is the best way to measure the rate of economics growth? a. By the annual percentage change in nominal GDP O b. By the annual percentage change in nominal GDP per capita O c. O d. By the annual percentage change in real GDP By the annual percentage change in real GNP per capita Oe. None of the above