Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3. The below table presents economic data of ECON Land. Year Population Nominal GDP GDP Deflator Real GDP Real GDP per capita 2018 10,000 $280,000,000

image text in transcribed
image text in transcribed
3. The below table presents economic data of ECON Land. Year Population Nominal GDP GDP Deflator Real GDP Real GDP per capita 2018 10,000 $280,000,000 100 2019 12,000 $319,000,000 110 2020 13,200 $391,000,000 115 a) Calculate real GDP. b) Calculate real GDP per capita in each year. Round the number to two decimal places. c) Which year indicates lowest purchasing power? Explain. 4. List the four determinants of an economy's productivity. In your opinion which determinant is important for the country like Thailand to build up economic growth of the country. Explain

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Public Relations

Authors: Tom Kelleher

1st Edition

0190201479, 9780190201470

More Books

Students also viewed these Economics questions

Question

2. What types of information are we collecting?

Answered: 1 week ago

Question

5. How quickly can we manage to collect the information?

Answered: 1 week ago

Question

3. Tactical/strategic information.

Answered: 1 week ago