Answered step by step
Verified Expert Solution
Link Copied!

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

image text in transcribed
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

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

Power And Plenty Trade, War, And The World Economy In The Second Millennium

Authors: R Findlay, Ronald Findlay

1st Edition

0691143277, 9780691143279

More Books

Students also viewed these Economics questions

Question

Describe the ethical issues involved in conducting HRD evaluation

Answered: 1 week ago