Economics

QUESTION 10 Table: Lemonade and Cookies 2016 2016 Price 2017 2017 Price Output Output Lemonade 200 glasses $1 per glass 220 glasses | $ 1 per glass Cookies 100 cookies $ 2 per | 100 cookies $2.25 per cookie cookie Assume that the potential real GDP in 2016 is $ 420, which kind of output gap ( for Real GDP) we have in this year? negative output gap of $ 20 negative output gap of $ 40 positive output gap of $ 20 positive output gap of $ 40QUESTION 8 Table: Lemonade and Cookies 2016 2016 Price 2017 2017 Price Output Output Lemonade 200 glasses $1 per glass 220 glasses $ 1 per glass Cookies 100 cookies $ 2 per 100 cookies $2.25 per cookie cookie Look at the table Lemonade and Cookies. Assume that an economy produces only lemonade and cookies. What is the GDP deflator in 2016? 100 106 116 126 QUESTION Table: Lemonade and Cookies 2016 2016 Price 2017 2017 Price Output Output Lemonade 200 glasses $1 per glass 220 glasses $ 1 per glass Cookies 100 cookies 2 per 100 cookies $2.25 per cookie cookie Look at the table Lemonade and Cookies Assum produces only lemonade and cookies. What is the GDP deflator in 2017? (2016 is the base year) 100 O 106 O 116 O 126QUESTION 7 Table: Lemonade and Cookies 2016 2016 Price 2017 2017 Price Output Output Lemonade 200 glasses $1 per glass 220 glasses $ 1 per glass Cookies 100 cookies 2 per 100 cookies $2.25 per cookie cookie Look at the table Lemonade and Cookies. Assume that an economy produces only lemonade and cookies. Assuming that 2016 was the base year, what is the growth rate of real GDP from 2016 to 2017? (2016 is the base year) O 11.25 96 O -11.25 0ontent id=_1054028_1&step=null QUESTION 5 Table: Lemonade and Cookies 2016 2016 Price 2017 2017 Price Output Output Lemonade 200 glasses $1 per glass 220 glasses $ 1 per glass Cookies 100 cookies $ 2 per 100 cookies $2.25 per cookie cookie Look at the table Lemonade and Cookies. Assume that an economy produces only lemonade and cookies. What is the growth rate of nominal GDP from 2016 to 2017? (2016 is the base year) 11.25 % O - 11,25 6 O -5%QUESTION 6 Table: Lemonade and Cookies 2016 2016 Price 2017 2017 Price Output Output Lemonade 200 glasses $1 per glass 220 glasses $ 1 per glass Cookies 100 cookies 2 per 100 cookies $2.25 per cookie cookie Look at the table Lemo Cookies. Assume that an economy produces only lemonade and cookies. What is the real GDP in 2017? (2016 is the base year) $ 400 $ 420 O $ 425 $ 440