Consider the GDP deflator and real GDP, given in thousands of dollars, for the country of Economica.
The base year, or base period, is year 3. For the given years, calculate the nominal GDP. Round your answers to the nearest dollar.
What is the nominal GDP for year 1?
What is the nominal GDP for year 2?
What is the nominal GDP for year 3?
Answers
Answer:
Year 1: $32,316
Year 2: $49,924
Year 3: $10,998
Explanation:
1. Nominal GDP in year 1 = (gdp deflator * real GDP)/100
= (105 * $30,777)/100
= 1.05 * $30,777
= $32,315.85 ~ $32,316
2. Nominal GDP in year 2 = (gdp deflator * real GDP)/100
= (123 * $40,589)/100
= 1.23 * $40,589
= $49,924.47 ~ $49,924
3.Nominal GDP in year 3 = (gdp deflator * real GDP)/100
= (100 * $10,998)/100
= $10,998
Related Questions
4 differences an 4 similarities between welfare capitalism an classical liberalism
Answers
The differences that exists between welfare capitalism and classical liberalism is that:
Welfare capitalism is directed towards the employers of labor while classical liberalism is directed towards the government.free market principles are mixed together with laws from a welfare state in welfare capitalism, while classical liberalism is about the limitation of the powers of the goverment.Classical liberalism is concerned with the protection of freedoms of citizens, welfare capitalism is mostly about the market.What is classical liberalism?This is a market system that is mostly about the laissez faire system in an economy. It is one that advocates for free markets.
What is the welfare capitalism in a country?This is one that involves businesses and firms providing welfare services to the people that they employ.
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Please answer the given four questions related to the market for loanable funds.
1. What effect will an increase in interest rates have on the quantity of loanable funds supplied?
a. Some lenders will offer more whereas others offer less.
b. There will be no change in quantity supplied.
c. Quantity supplied will decrease.
d. Quantity supplied will increase.
2. As interest rate decreases, what happens to the quantity of loanable funds demanded?
a. Some borrowers will demand more funds whereas others will demand less.
b. Quantity demanded will decrease.
c. Quantity demanded will increase.
d. There will be no change in quantity demanded.
3. Which of the terms acts as the "price" in the market for loanable funds?
a. interest rate
b. demand
c. capital
d. supply
4. If the projected rate of return for a project is less than the interest rate for a loan that is necessary to complete the project, how will the borrowing business act?
a. The business will proceed anyway, knowing that the return is only an estimate.
b. The business will not take out the loan.
c. The business will demand more funds to cover the shortfall.
d. The business will take out the loan.
Answers
Answer:
1. d. Quantity supplied will increase.
2. c. Quantity demanded will increase.
3. a. interest rate
4. b. The business will not take out the loan.
Explanation:
The interest rate (specifically the real interest rate) is the factor through which balance is achieved between quantity supplied and quantity demanded in the loanable funds market, and thus it acts as the "price" in this market. Producers of loanable funds (lending institutions) and consumers (borrowers) will adjust their quantities supplied and demanded, respectively, to the prevailing real interest rate in the market. At any given rate, an equilibrium quantity will be established.
As with a traditional supply and demand curve, as the interest rate decreases, the quantity of loanable funds demanded increases. At lower interest rates, more individuals will seek out loanable funds. The key consideration for any consumer in the loanable funds market is how likely he or she is to receive a rate of return equal to or greater than the interest rate. As the interest rate drops, the likelihood of earning a rate of return at least as high as the interest rate increases, and more individuals will request funds.
If a business is unable to secure a rate of return at least as high as the interest rate, it will not desire financing because the outcome would be an overall loss of money. When the rate of return is at least equal to the interest rate, a company will break even. If it is greater, they will make money from the venture. No business will take out a loan with an interest rate higher than the projected rate of return because this would likely put it farther into debt than before, with no net benefit. Businesses will only borrow when the rate of return is projected to be higher than the interest rate.
As the interest rate increases, the quantity supplied of loanable funds increases. Lenders have a higher incentive to supply funds because with a higher interest rate, a greater return on their investment is possible. However, this is no guarantee that lenders will, in fact, earn more, because as the interest rate increases, there is a corresponding decrease in the quantity of loanable funds demanded.
True or False: The Bible provides truth in theological and spiritual areas, but not in scientific and historical areas.
Answers
Answer:
True
Explanation:
This is true because it is not a scholarly source, as more people would think it is a primary source.
the purpose of law of education
Answers
I am writing a speech about ratifying the Constitution. It explains Separation of Powers, Checks and Balances, as well as the viewpoints of the Federalists and Anti-Federalists.
First Paragraph: Hook your audience into wanting to read or hear your speech. You can tell a story or use a quote. Introduce the event and basic facts like people and places. Use at least three to five sentences.
Please make it a good hook.
Answers
Answer:
The constitution of the US has led to the formation of the national government along with a check and balance system. This check and balance describe the separation of powers in the government.
A check and balances system ensures the limitations of power divided between the federal government and state government. It provides President a power over the federal government to restrict its actions or bills through vetoing. It is because the federal have the power to bring any law or bill but if it violates public rights then it could be canceled by the President.
Earlier the US constitution was weak that created disunity in the nation. Here, Federalists played the role of bringing the idea of a strong federal government. Therefore, it leads to the ratification and implementation of a new constitution in the state that emphasized public rights and a powerful central government.
Anti-federalists were opposing ratification of the constitution as they do not want a powerful central government. They were of the opinion that the central government would become tyrannical just as the great britain and would act as a threat to citizens' liberty. Thus, they wanted strong Bills of rights in place of a strong central government.
What is the cost of money?
Answers
Which of the following is a responsibility of all U.S. citizens?
Answers
Answer:
Unity
Explanation:
They should live with unity and harmony otherwise the country will face many issues.
Define is peace building
Answers
Answer:
Peacebuilding is an activity that aims to resolve injustice in nonviolent ways and to transform the cultural and structural conditions that generate deadly or destructive conflict.
The Federal Reserve considers "overinflation" to be which of the following annually?
A. under 3%
B. between 0-2%
C. exactly 3%
D. above 3%
Need help
Sub: economics
Answers
The Federal Reserve considers "overinflation," that is inflation to an excessive degree, to be D. above 3% annually.
What is inflation?Inflation is a decrease in the purchasing power of a currency due to the rising prices of goods and services in an economy.
Some of the causes of inflation are:
Exchange rate changesIncreased demandIncreasing national debtGovernmental regulationsIncreased production costs, etc.Thus, tThe Federal Reserve considers "overinflation," that is inflation to an excessive degree, to be D. above 3% annually.
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. _____________________ waves are used to send signals because they can travel over very long distances and pass through buildings
Answers
Answer:
the answer is electromagnet
Explanation:
Answer:
__________ waves are used to send signals because they can travel over very long distances and pass through buildings.
Explanation:
Radio is your answer.
radio waves are used to send signals because they can travel over very long distances and pass through buildings.
Complete the sentences with the correct term.
Cost‑push inflation occurs when ____(short-run aggregate supply / aggregate demand)____ decreases until equilibrium output falls below the full employment level.
As a result, the ____(equilibrium output level / price level)_____ increases.
One possible cause of cost‑push inflation is an increase in ____(technology / the costs of inputs)_____.
To combat falling aggregate output, the government may introduce policies to increase ____(aggregate demand / long-run aggregate supply)_____ to the point where it and short‑run aggregate supply intersect ____(aggregate demand /
long-run aggregate supply)_____ at the same point.
These policies cause ____(the price level / equilibrium output)____ to return to its full employment level, and the ____(level of output / price level)_____ increases even further.
Answers
Answer:
Cost-push inflation occurs when short run aggregate supply decreases until equilibrium output falls below the employment level.
As a result, price level increases.
One possible cause of cost-push inflation is an increase in the cost of inputs.
To combat falling aggregate output, the government may introduce policies to increase in aggregate demand to the point where it and short-run aggregate supply intersect long run aggregate supply at the same point.
These policies cause equilibrium output to return to its full employment level, and the price level increases even further.
Explanation:
Cost‑push inflation is caused by a decrease in short‑run aggregate supply (SRAS) that results in an equilibrium below an economy's full employment level of aggregate output. This can be caused by a substantial increase in the cost of inputs, such as oil or wages, giving rise to an increase in the cost of production.
Initially, the economy will reach an equilibrium where the new SRAS curve intersects the aggregate demand curve. At this equilibrium, the aggregate output has decreased and the price level has increased.
Since the economy is now operating below full employment output, the government may get involved by creating policies to increase aggregate demand, so that the equilibrium returns to the full employment level of output. At this new equilibrium, aggregate output returns to the economy's full employment level, but the aggregate price level has increased further.
1.why did mainland china give a gift of pandas to Taiwan ?
Answers
Identify each type of retirement account according to whether the individual contributor pays income taxes on the contribution (posttax) or not (pretax) at the time of the contribution.
401(k)
traditional IRA
Roth IRA
Social Security
Answers
Answer:
Posttax
- Roth IRA
Pretax
- 401(k)
- traditional IRA
- Social Security
Explanation:
Contributions to Social Security, traditional IRAs, and 401(k) plans are not taxed at the time of the contribution. Contributions to Roth IRAs, on the other hand, are made with posttax dollars, which means the income contributed is taxed.
Withdrawals from Roth IRAs made after age 59.5 are not subject to taxes. Compounding interest payments and capital gains can generate substantial growth in such an account over time, so the postretirement tax benefits can be considerable. Benefits paid to retirees from the other systems are taxed as income at that point.
The kind of the retirement account for posttax is Roth IRA and for Pretax is 401(k), traditional IRA and Social Security.
What is retirement?Retirement is a stage in life when a person decides to quit the employment permanently. In the United States and most other industrialized nations, the typical retirement age is 65, and many have some form of government retirement or compensation scheme in place to augment retirees' salaries.
Contributions to Social Security, regular IRAs, and 401(k) programs are not taxed when made. Donations to Roth IRAs, in contrast hand, are made after-tax monies, meaning the revenue received is paid.
Withdrawal effects from Roth IRAs made beyond the age of 59.5 are tax-free. Compounding interest charges and capital gains can create tremendous growth in such an investment over time, resulting in significant post retirement tax savings.
Therefore, it can be concluded that at the moment of post retirement, benefits provided to retirees from these other systems are taxable as income.
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Heyyy Guyssss !!
What are the advantages of industry ?
Answers
Faster manufacturing.
Less machine and production line downtime.
Fewer quality issues with products.
Explanation:
Growth of industries leads to increase in production of goods and services which are available to people at cheaper rates.It reduces dependence on other countries and improves economy.It reduces dependence on other countries and improves economy.It results in rising the standard of living.It reduces dependence on other countries and improves economy.It results in rising the standard of living.It creates new job opportunities helping in the removal of unemployment.how technology and social media platforms influenced self-disclosure in your relationships
Answers
Individuals can self-disclose on social media by posting personal content in posts or by revealing information on their personal profiles. While posting is a common activity, updating one's profile is not.
Identify the impact on either the supply or demand of loanable funds following the events listed below.
a. If economic conditions deteriorate, prompting households to save a larger portion of their income, then __________ loanable funds will __________.
b. In an effort to balance the budget, the government increases taxes paid by businesses. As a result, the __________ loanable funds will __________.
c. If economic conditions improve, increasing the demand for goods and services, then the __________ loanable funds will __________.
d. Innovations in robotics technology vastly improves productivity within manufacturing firms. As a result, the __________ loanable funds will __________.
WORD BANK
supply of
demand for
increase
decrease
Answers
Answer:
a. If economic conditions deteriorate, prompting households to save a larger portion of their income, then supply of loanable funds will increase.
b. In an effort to balance the budget, the government increases taxes paid by businesses. As a result, the demand for loanable funds will decrease.
c. If economic conditions improve, increasing the demand for goods and services, then the demand for loanable funds will increase.
d. Innovations in robotics technology vastly improves productivity within manufacturing firms. As a result, the demand for loanable funds will increase.
Explanation:
Any changes in household saving patterns will shift the supply curve for loanable funds. When households save more due to deteriorating economic conditions, the total supply of saving increases, shifting the loanable funds supply curve to the right.
An increase in business taxes will reduce the profitability of new investment projects, so the demand for loanable funds will decrease.
An improvement in economic conditions, which increases the demand for goods and services, will cause the demand for loanable funds curve to shift to the right, as businesses find it more profitable to invest in production equipment.
Advancements in robotics technology, leading to increased productivity, will increase the demand for loanable funds, as firms will have an incentive to increase their investment in equipment and machinery.
Though accurate, it is inconvenient and impractical to follow local time in a place .Write clearly to prove the claim.
Answers
Answer:
Because the Earth rotates at an uneven speed, solar days vary slightly in size. This indicates that the pace of true solar time is not constant. Mean solar time is calculated based on the 24 hour length of a mean solar day. It moves at a constant speed. It would be a disadvantage to follow
When the islanders started fighting amongst themselves _____ the monkeys took control. 2. The islanders were weary of fighting _____ consequently, the monkeys faced little resistance. 3. As soon as the monkeys were in charge of Fire Island _____ things began to change. 4. David was afraid of Tiny, the leader of the monkeys _____ because David had heard things. 5. Tiny demanded all kinds of crazy things from the islanders _____ this troubled them greatly. 6. One warm summer morning _____ Tiny marched to the village square and pronounced a new law. 7. This law shocked and appalled the islanders _____ they could not accept such ridiculous leadership. 8. After much hemming and hawing _____ the elders decided to accept the law afterall. 9. The islanders had lost their spirit for fighting _____ furthermore, no one wanted to provoke Tiny's ire. 10. David _____ however, had had enough.
Answers
Punctuation marks are marks, like full stop (.), comma (,), or question mark (?), used in sentences. Appropriate marks are applied below.
Punctuation marks in useWhen the islanders started fighting amongst themselves, the monkeys took control. 2. The islanders were weary of fighting; consequently, the monkeys faced little resistance.
3. As soon as the monkeys were in charge of Fire Island, things began to change. 4. David was afraid of Tiny, the leader of the monkeys, because David had heard things. 5. Tiny demanded all kinds of crazy things from the islanders; this troubled them greatly.
6. One warm summer morning, Tiny marched to the village square and pronounced a new law. 7. This law shocked and appalled the islanders: they could not accept such ridiculous leadership. 8. After much hemming and hawing, the elders decided to accept the law afterall.
9. The islanders had lost their spirit for fighting, furthermore, no one wanted to provoke Tiny's ire. 10. David, however, had had enough.
Therefore, Punctuation marks are marks, such as a full stop, comma, or question mark, used in writing to separate sentences and their elements and to clarify meaning.
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"prevention is better than cure"Justify the statement.in long
Answers
Prevention is better than cure because it saves us from the harm of curing through medicines. Prevention is a safe way to remain away from any problem. We just need to maintain a healthy and disciplined lifestyle all through life. Whereas, our carelessness lead us to cure using medicines or other treatments. Cure cannot cure us completely however prevention keeps us away from danger and maintains normal health.
Suppose that the U.S. concrete industry has developed an inexpensive way to make concrete both lighter and stronger. As a result, the full employment level of aggregate output has grown from level A to level B in the graph. Move the SRAS (short‑run aggregate supply), AD (aggregate demand), or LRAS (long‑run aggregate supply) curves to describe how this concrete technology innovation has affected the U.S. economy.
Answers
Answer:
*see image*
Explanation:
The full‑employment level of aggregate output has grown from level A to level B. As such, LRAS shifts to the right from level A to level B.
An advance in technology equates with an increase in productivity. As a result, it increases the economy's ability to produce goods and services. In this case, better concrete lowers the cost of buildings, roads, and sidewalks. Consequently, the long‑run aggregate‑supply curve shifts to the right. It may help to think about being able to produce more buildings for the same amount of money.
Since most people may not even notice a difference in the concrete, the aggregate demand stays constant (i.e., does not shift).
Pls help asap<33
1. A Market economy features:
A People relying on customs to make economic decisions
B The government directly controlling the production and sale of goods
C Private companies opertering without government interference
D The government placing some regulations on free businesses
2 Which statement best summarizes the economic theories of Adam Smith
A Economies that are based on free trade will always be unstable
B Economies work best when government leave businesses alone
C Economic problems mostly result from the struggles between classes
D Economic growth should be carefully guided by the government
3 Government most often regulates often essential services like water treatment by
A Eliminating pure competition markets
B Setting up natural monopolies
C Taking control; over private corporations
D Creating barriers to entry in monopolistic competition
4 What type of businesses organization offers many benefits and its specific to the United States?
A Corporations
B Sole proprietors
C Limited liability
D Partnerships
5 The Purpose of fiscal policy is to
A Conduct foreign diplomacy
B Tax and spend money
C Regulate corporate behavior
D Create and enforce laws
6Monetary influences the economy by adjusting the
A Gross domestic product
B Money supply
C Unemployment rate
D Budget deficit
Answers
Answer:
1.) A.) private companies operating without government interferance.
2.) B.) Economies work best when government leave businesses alone
3.) B.) Setting up natural monopolies
4.) C.) Limited liability
5.) B.) Tax and spend money
6.) B.) Money supply
Explanation:
LMK HOW YOU DID
state two ways in which media could ensure access of information to all communities
Answers
Answer:
Community radio helps to avail utilities and amenities for various development aspects of our society like education, health, water and sanitation, protection from natural disasters, address social issues at the community level and connect rural population with the government.
Explanation:
What is one way political parties shape public policy?
Answers
Answer:
"Helping elected officials who belong to the party work together more effectively."
Explanation:
sorry found this, and ur questions been up awhile. sorry
Read the section "Advantages And Disadvantages."
Which sentence from this section shows WHY using credit can have
disadvantages?
People must decide if the advantages outweigh the disadvantages.
Credit can help people buy assets, which are goods or services that keep or increase their value over time.
Interest adds up over time, and the debt becomes difficult to pay back.
Borrowers are able to purchase something that is of value to them.
Answers
The most likely answer is Interest adds up over time, and the debt becomes difficult to pay back. Option C
This is because credit has to do with borrowing of money to pay back with interest to either buy assets or to get goods or services.
what do you mean by Development Banks
Answers
Answer:
Development bank
Explanation:
a bank that provides financial help to increase industry and other business in a country or area
Answer:
development bank is a bank which gives facilities to every sector of economic and assist them for their development
when at a funeral what is the correct thing to say?
A. your personal speech
b. a generic group of words
c. "welcome to my unboxing video"
D. you say nothing
Answers
Why did some states use literacy tests at polls? A. to make sure a person was eligible to vote B. to prevent African Americans from voting. C. to make sure a person knew how to vote. D. to keep women from voting
Answers
Answer:
i believe the answer is B. to prevent African Americans from voting
Explanation:
Answer:
b.
Explanation:
all credit goes to the guy/girl up there.
The government of Happyland collects $100 million in taxes each year and currently has a public debt of $1.2 billion, which it finances by issuing Treasury bonds that pay 8% per year. Is this a manageable level of debt for the government of Happyland?
No, the debt is not manageable because the government must repay the entire $1.2 billion debt at the end of the year.
No, the debt is not manageable because interest payments equal $96 million per year.
Yes, the debt is manageable because the public debt is only 12 times the size of tax revenues.
Yes, the debt is manageable because an interest rate of 8% is relatively low.
Answers
Annual interest payments on the debt are:
0.08 x $1,200,000,000 = $96,000,000
While it is possible to cover interest on the debt with $100 million in tax revenues, that would leave just 4% ($4,000,000/$100,000,000 x 100) of tax revenues to pay the principal on maturing loans and all other government expenditures (assuming no additional debt is incurred). This is not a manageable level of debt.
Real GDP per capita is NOT an adequate measure of
average real GDP per person in the economy.
the well-being of each person in an economy.
a country's average aggregate spending per person.
a country's average aggregate output per person.
Answers
Answer:
the well-being of each person in an economy.
Explanation:
Real GDP per capita is average real GDP per person in the economy. It can be found by dividing real GDP by population. It is a measure of the economy's aggregate output per person which is also a measure of aggregate spending per person.
Richer nations with higher real GDP per capita are typically happier than poorer nations. However, real GDP per capita is a poor measure of the overall well-being of individuals in an economy because real GDP per capita does not measure the many dimensions related to how people live, but rather how much, on average, individuals in a country produce and consume.
Real GDP per capita measures the average level of a country's income, adjusted for inflation. Since, It tracks the average real GDP per person in the economy, option (a) is not valid. Real GDP per capita can also be used as a rough estimate of a country's average aggregate output per person as well as the average spending capacity per person of a country. Therefore, options (c) and (d) are not correct either. The emotional or general well-being of a country's populace is not accounted for in the data used to calculate the Real GDP per capita of a country.
Eastland’s government has a total national debt of $500 million, which is financed as follows: $100 million is held by other government agencies, $200 million is held by Eastland’s citizens, and $200 million is held by foreign citizens. The amount of public debt in Eastland is:
$500 million.
$400 million.
$300 million.
$100 million.
