Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 2 a) Explain GDP per capita. (2 marks) b) Zodiac Land produces computers and mobile phones. The base year is 2009 and the quantities
Question 2 a) Explain GDP per capita. (2 marks) b) Zodiac Land produces computers and mobile phones. The base year is 2009 and the quantities produced and prices are tabulated below. In 2009 Quantity Price Computers 4 million $1750 Mobile phones 3 million $1000 In 2010 Quantity Price Computers 6 million $2150 Mobile phones 3.5 million $1100 Calculate Zodiac Land's: i) Nominal GDP in 2009 and 2010. (4 marks) ii) Real GDP in 2009 and 2010. (4 marks) iii) Real GDP growth rate between 2009 and 2010. (2 marks) iv) Nominal GDP per capita in 2009 if the population was 5 million. (2 marks) Page 2 of 4 Please show your working clearly and present your final answers up to 2 decimal places. 0) Identify and explain TH REE (3) ways a firm can achieve labour productivity growth. (6 marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started