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- What is the contribution to 2021 U.S. GDP in the following scenario? A car company produces a vehicle in December 2020. The car's costs consists of the following: Labor: $4000 Aluminum Framing: $2500 Tires: $800 Computer: $2750 Other Parts: $2500 The car sells in February 2021 for $17,000.Suppose that nominal GDP is $10,622 billion and real GDP is $12,070 billion. What is the value of the GDP price index?If real GDP rises while nominal GDP falls, then prices on average have: risen. decreased and then been offset by an equal increase. stayed the same. fallen.
- If the nominal GDP is $118 current price index is $112 find the real GDPAssume that in the year 2010, the US Nominal GDP was $15 trillion, while the GDP deflator was 200. Calculate the US Real GDP for 2010. $30 trillion $300 trillion $7.5 trillion $0.75 trillionIf your nominal income rose by 5.3 percent and the price level rose by 3.8 percent in some year, by what percentage would your real income (approximately) increase?
- If your nominal income in 2016 was $50,000, and prices doubled between 2016 and 2017, to have the same real income, your nominal income in 2017 must be:Nominal GDP 2018 is $24,200. What is the "real" 2018 GDP measure in 2012 prices if the 2018 price index is 1.05?For a hypothetical economy, if Nominal GDP (measured in billions of current dollars) is $5,465 and the sum of consumption, investment, and government purchases is $5,496, while exports equal $673, imports are
- The nominal GDP for an economy is $12 trillion. Real GDP is $10 trillion. What is the value of the implicit price deflatorIn Macronesia the GDP deflator for 2006 is 105 ( with 2005 being the base year). If the real GDP in 2006 equals 210 billion, the nominal GDP in 2006is equal to $200 billion. Not enough information given. $220.5 billion. $ 210Find the value of exports if net exports is $310 million and imports are $130 million