How is real GDP calculated? In 2015 Real GDP is calculated by Item Quantity Price Digital cameras 53 each O A. dividing the value of the year's production at the prices of the year in which the production occurred by the value of the year's Chocolate bars $1 each production at reference base year prices Watches 51 each O B. summing together the value of the year's production using the prices of the reference base year O C. summing together the value of the year's production using the prices of the year in which the production occurred In 2016 O D. dividing the value of the year's production at reference base year prices by the value of the year's production at the prices of Item Quantity Price the year in which the production occurred Digital cameras $8 each Chocolate bars $5 each An economy produces only digital cameras, chocolate bars, and watches Watches 56 each The table gives the quantities produced and prices in 2015 and 2016. The reference base year is 2015. What is real GDP in 2016 in terms of the reference base-year prices? Real GDP in 2016 in terms of reference base-year prices is $ 74The table gives some of the items in the U.S. National Income and Product Accounts in 2004. Amount What is the value of U.S. GDP (income approach) in 2004? Item (trillions of dollars) Compensation of employees 6.7 The value of U.S. GDP (income approach) in 2004 is 8.8 trillion. Consumption expenditure 8.2 Indirect taxes less subsidies 0.8 > >> Answer to 1 decimal place. Other factor incomes 2.6 Depreciation 1.3 Government expenditure on goods and services 2.2 Net exports - 0.6The table shows three years of CPI data. Date CPI Calculate the inflation rate for the years ended June 2002 and June 2003. June 2001 178.0 How did the inflation rate change in 2003? June 2002 179.9 June 2003 183.7 The inflation rate for the year ended June 2002 is 1.1 percent. >>>Answer to 1 decimal place. >>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign. The inflation rate for the year ended June 2003 is 2.1 percent. > >> Answer to 1 decimal place. >>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign. In 2003, the inflation rate increasedA typical family on Sandy Island consumes only juice and cloth. Last year, which was the base year, the family spent $40 on juice and $18 on cloth. In the base year, juice was $4 a bottle and cloth was $6 a length. This year, juice is $6 a bottle and cloth is $10 a length. Calculate a. The CPI basket. b. The CPI in the current year. c. The inflation rate in the current year. The CPI basket is 10| bottles of juice and 3 lengths of cloth. The CPI in the current year is 200 >>> Answer to 1 decimal place. The inflation rate in the current year is 100 percent.The table shows the data reported by the Bureau of Labor Statistics in 2009. Labor Market Data Calculate the labor force, employment, and the unemployment rate. Labor force participation rate 65.4 percent The labor force is 15434.4 million. Working-age population 236 million >> > Answer with a whole number. Employment-to-population ratio 59.3 percent Employment is 1394.8 million. >>> Answer with a whole number. The unemployment rate is 90.9 percent. >>> Answer to 1 decimal place.The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire destroys the statistics office. The accounts are now incomplete but they contain the data in the table. Item Dollars Calculate GDP (expenditure approach) and depreciation. GDP (income approach) 2,900 Consumption expenditure 2,000 GDP (expenditure approach) is $ 3000 Indirect taxes less subsidies 100 Other factor incomes 500 Depreciation is $ 100 Investment 800 Government expenditure 400 Wages 2,000 Net exports - 200The people who live on Second Life Island consume only juice and cloth. Last year, which was the CPI base year, the price of juice was $2 a bottle, the price of cloth was $3 a length, and the average urban household spent $20 on juice and $27 on cloth. This year, the price of juice is $9 a bottle and the price of cloth is $6 a length. What is the CPI in the current year? The CPI in the current year is 129.7 >> Answer to 1 decimal place
