eeconomics questions

When the economy is in equilibrium, we know with certainty that: Select one: Q a. total income equals investment. b. public saving equals investment. c. none ofthe other alternatives is correct. d. total income equals total taxes. 0000 e. private saving equals investment. Suppose nominal GDP increased in a given year. Based on this information, we know with certainty that: Select one: O a. real output has increased O b. real output has increased and the price level has decreased O c. the price level (GDP deflator) has increased O d. real output and the price level (GDP deflator) have both increased O e. either real output or the price level (GDP deflator) has increasedAn economy produces only the three goods below. rices and quantities for 2016 and 2017 are as follows: 2016 2017 Quantity Price Quantity Price Cars 10 2000 12 3000 Computers 4 1000 6 500 Oranges 1000 1 1000 1 What is the real GDP for 2016, using 2016 as the base year? Answer:Suppose that you are provided with the following information Prices Butter Cars Oil Quantities Butter Cars Oil 2003 1.0 500 100 2003 500 300 700 2004 1.0 550 150 2004 500 350 750 2005 1.2 600 140 2005 480 400 770 Calculate the inflation rate from 2003 to 2004 using the GDP deflator (i.e. present the result as a percentage and two decimal places). Assume 2003 as the base year. Answer:Assume that 1980 is the base year. Given macroeconomic conditions in the United Kingdom over the past three decades, we know that: Select one: O a. real GDP and nominal GDP were equal in 1980 O b. real GDP was larger than nominal GDP from 2002 to 2008 O c. None of the available options is correct O d. real GDP and nominal GDP would be equal for the entire period O e. nominal GDP is always smaller than the real GDP since 1980An economy produces only the three goods below. rices and quantities for 2016 and 2017 are as follows: 2016 2017 Quantity Price Quantity Price Cars 10 2000 12 3000 Computers 4 1000 6 500 Oranges 1000 1 1000 1 By what percentage does nominal GDP change from 2016 to 2017