Question
Unit 4.1 - Economic Growth and Productivity (Activity) Solve the missing figures and explain your findings in bullet points. Apples Oranges Price ($) Quantity Price
"Unit 4.1 - Economic Growth and Productivity (Activity)"
Solve the missing figures and explain your findings in bullet points.
Apples
Oranges
Price ($)
Quantity
Price ($)
Quantity
2015
50
10
20
50
2016
100
20
30
100
2017
150
20
50
200
Nominal GDP
$
2015
($50 10) + ($20 50) =
Note that the base year's nominal and real GDP must be the same. (Fill)
1500 2016
($100 20) + ($30 100) =
2017
($150 20) + ($50 200) =
Real GDP (Base year 2015)
2015 $
2015
($50 10) + ($20 50) =
2016
($50 20) + ($20 100) =
2017
($50 20) + ($20 200) =
"Calculate the GDP Deflator"
Apples
Oranges
Price ($)
Quantity
Price ($)
Quantity
2015
50
10
20
50
2016
100
20
30
100
2017
150
20
50
200
Nominal GDP
$
GDP Deflator
2015
($50 10) + ($20 50) =
1500
100 1500 / 1500 = 100
2016
($100 20) + ($30 100) =
2017
($150 20) + ($50 200) =
Real GDP (Base year 2015)
2015 $
2015
($50 10) + ($20 50) =
1500
2016
($50 20) + ($20 100) =
2017
($50 20) + ($20 200) =
"Calculate the Growth Rate for GDP"
Apples
Oranges
Price ($)
Quantity
Price ($)
Quantity
2015
50
10
20
50
2016
100
20
30
100
2017
150
20
50
200
Nominal GDP
$
GDP Growth Rate (%) Nominal (Current)
2015
($50 10) + ($20 ???) =
2016
($100 20) + ($30 ???) =
2017
($150 20) + ($50 ???) =
Real GDP (Base year 2015)
2015 $
GDP Growth Rate (%) Real (Constant)
2015
($50 10) + ($20 ???) =
2016
($50 20) + ($20 ???) =
2017
($50 20) + ($20 ???) =
Explain your findings in bullet points: "Economic Growth and Productivity"
1)GDP deflator: ..........................................
2016
2017
2)Growth rate: .............................................
2016
2017
"Unit 4.1 - Economic Growth and Productivity (Activity)"
Solve the missing figures and explain your findings in bullet points.
Apples
Oranges
Price ($)
Quantity
Price ($)
Quantity
2015
50
10
20
50
2016
100
20
30
100
2017
150
20
50
200
Nominal GDP
$
2015
($50 10) + ($20 50) =
Note that the base year's nominal and real GDP must be the same. (Fill)
1500 2016
($100 20) + ($30 100) =
2017
($150 20) + ($50 200) =
Real GDP (Base year 2015)
2015 $
2015
($50 10) + ($20 50) =
2016
($50 20) + ($20 100) =
2017
($50 20) + ($20 200) =
"Calculate the GDP Deflator"
Apples
Oranges
Price ($)
Quantity
Price ($)
Quantity
2015
50
10
20
50
2016
100
20
30
100
2017
150
20
50
200
Nominal GDP
$
GDP Deflator
2015
($50 10) + ($20 50) =
1500
100 1500 / 1500 = 100
2016
($100 20) + ($30 100) =
2017
($150 20) + ($50 200) =
Real GDP (Base year 2015)
2015 $
2015
($50 10) + ($20 50) =
1500
2016
($50 20) + ($20 100) =
2017
($50 20) + ($20 200) =
"Calculate the Growth Rate for GDP"
Apples
Oranges
Price ($)
Quantity
Price ($)
Quantity
2015
50
10
20
50
2016
100
20
30
100
2017
150
20
50
200
Nominal GDP
$
GDP Growth Rate (%) Nominal (Current)
2015
($50 10) + ($20 ???) =
2016
($100 20) + ($30 ???) =
2017
($150 20) + ($50 ???) =
Real GDP (Base year 2015)
2015 $
GDP Growth Rate (%) Real (Constant)
2015
($50 10) + ($20 ???) =
2016
($50 20) + ($20 ???) =
2017
($50 20) + ($20 ???) =
Explain your findings in bullet points: "Economic Growth and Productivity"
1)GDP deflator: ..........................................
2016
2017
2)Growth rate: .............................................
2016
2017
"Unit 4.1 - Economic Growth and Productivity (Activity)"
Solve the missing figures and explain your findings in bullet points.
Apples
Oranges
Price ($)
Quantity
Price ($)
Quantity
2015
50
10
20
50
2016
100
20
30
100
2017
150
20
50
200
Nominal GDP
$
2015
($50 10) + ($20 50) =
Note that the base year's nominal and real GDP must be the same. (Fill)
1500 2016
($100 20) + ($30 100) =
2017
($150 20) + ($50 200) =
Real GDP (Base year 2015)
2015 $
2015
($50 10) + ($20 50) =
2016
($50 20) + ($20 100) =
2017
($50 20) + ($20 200) =
"Calculate the GDP Deflator"
Apples
Oranges
Price ($)
Quantity
Price ($)
Quantity
2015
50
10
20
50
2016
100
20
30
100
2017
150
20
50
200
Nominal GDP
$
GDP Deflator
2015
($50 10) + ($20 50) =
1500
100 1500 / 1500 = 100
2016
($100 20) + ($30 100) =
2017
($150 20) + ($50 200) =
Real GDP (Base year 2015)
2015 $
2015
($50 10) + ($20 50) =
1500
2016
($50 20) + ($20 100) =
2017
($50 20) + ($20 200) =
"Calculate the Growth Rate for GDP"
Apples
Oranges
Price ($)
Quantity
Price ($)
Quantity
2015
50
10
20
50
2016
100
20
30
100
2017
150
20
50
200
Nominal GDP
$
GDP Growth Rate (%) Nominal (Current)
2015
($50 10) + ($20 ???) =
2016
($100 20) + ($30 ???) =
2017
($150 20) + ($50 ???) =
Real GDP (Base year 2015)
2015 $
GDP Growth Rate (%) Real (Constant)
2015
($50 10) + ($20 ???) =
2016
($50 20) + ($20 ???) =
2017
($50 20) + ($20 ???) =
Explain your findings in bullet points: "Economic Growth and Productivity"
1)GDP deflator: ..........................................
2016
2017
2)Growth rate: .............................................
2016
2017
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Justice In A Global Economy Strategies For Home, Community, And World
Authors: Rebecca Todd Peters, Pamela K Brubaker, Laura A Stivers
1st Edition
0664229557, 9780664229559
