In 1973, Nominal GDP was $1,383 billion and the CPI was 44.4. In 1974, Nominal GDP was

Fantastic news! We've Found the answer you've been seeking!

Question:

In 1973, Nominal GDP was $1,383 billion and the CPI was 44.4. In 1974, Nominal GDP was $1,500 billion and the CPI was 49.3. Real GDP in 1974, adjusted to the 1973 price level, was $_____ Billion.

Related Book For answer-question

Economics

ISBN: 978-0134106243

6th edition

Authors: R. Glenn Hubbard

See More Books

Posted Date: Jan 04, 2019 09:15 AM

See More Questions

On 31st January, 2021 the Balance as per Pass book of S.V. Ltd. is $ 505,500. Prepare a Bank Reconciliation Statement to find out Balance as per bank column of Cash Book as on 31st January, 2021 by...
The following table contains nominal and real GDP data, in billions of dollars, from the U.S. Bureau of Economic Analysis for 2013 and 2014. The data is listed per quarter, and the real GDP data was...
Real GDP in 2012 was $15,369 billion. Real GDP in 2013 was $15,710 billion. What was the percentage change in real GDP from 2012 to 2013? What do economists call the percentage change in real GDP...
Walmart Stores has run into opposition when it has tried to open stores in certain towns in the United States. Walmarts capital budgeting process has determined that these locations would be...
A pump impeller has an outside radius of 50 cm, an inside radius of 15 cm, and vanes with a uniform opening (width) of 20 cm. When the impeller is rotated at an angular speed of 450 rpm, water exits...
Cite three benefits companies report from using an activity-based budgeting approach.
Dale Corporation has the following data: Dale's return on assets is a. $15 \%$ b. $12 \%$ c. $10 \%$ d. $4 \%$ Net income $22,000 Average total assets $300,000 Interest expense 8,000 Average...
Vermont Company uses continuous processing to produce stuffed bears and FIFO process costing to account for its production costs. It uses FIFO because costs are quite unstable due to the volatile...
Cullumber Limited follows ASPE, and the company sponsors a defined benefit pension plan. Cullumber's actuary provides the following information about the plan (in thousands of dollars): January 1,...
Problem 3-3B Preparing adjusting entries, adjusted trial balance, and financial statements A1 P1 P2 P3 Following is the unadjusted trial balance for Alonzo Institute as of December 31, 2015, which...
3. Conceptual Connection: Job 73 used 20 machine hours from Department A and 50 machine hours from Department B. Job 74 used 50 machine hours from Department A and 20 machine hours from Department B....
Carsten Boe, the Danisa Traditional Butter Cookies mogul, wants to retire at age 100. Mr. Boe is currently 70. Once he retires, he wants to withdraw $1.1 billion at the beginning of each year for 12...
Mazdas current incentives for customers looking to buy a Mazda 6 include either financing at an APR of 5.1 percent compounded monthly for 60 months or $$1,000$ cash back. Lets assume Akira wants to...
Gabriela plans to invest $1,500 at the end of each quarter for 5 years into an account with an APR of 6.3 percent compounded quarterly. She will use this money as a down payment on a new home at the...
Hoong Du has a $$6,400$ debt balance on his American Express card that charges an APR of 12.6 percent compounded monthly. Hoongs current minimum monthly payment is 4 percent of his debt balance, or...
a. Calculate the future sum of $6,500, given that it will be held in a Swiss bank for 5 years at an annual interest rate of 7 percent. b. Recalculate part(a) assuming the interest rates is (1) an APR...
Cane Company manufactures two products called Alpha and Beta that sell for $185 and $120, respectively. Each product uses only one type of raw material that costs $5 per pound. The company has the...
Nate prepares slides for his microscope. In 1 day he prepared 12 different slides. Which equation best represents y, the total number of slides Nate prepares in x days if he continues at this rate? A...
Henry the general manager of RUTANSA corporation is on a mission to streamline the recruiting process. Henry knows that RUTANSA corporation should work more on its HR policies, and employee benefits,...
The following graph illustrates the combination of apples and oranges (point A) that maximizes Yolanda's total utility, given her budget. Suppose the price of oranges doubles, while the price of...
Why do economists refer to the methodology for analyzing oligopolies as game theory?
What does the employment-population ratio measure? How does an unemployed person dropping out of the labor force affect the unemployment rate? How does it affect the employment-population ratio?
Under what conditions can WTO members not use MFN when dealing with one another?
What does most favored nation (MFN) mean?
How do the various forms of economic integration differ?

In 1973, Nominal GDP was $1,383 billion and the CPI was 44.4. In 1974, Nominal GDP was

Question:

Expert Answer:

We know that Real GDP is nominal GDP ajusted for inflation Inflat... View the full answer

Economics

Students also viewed these economics questions