Nominal GDP for the Bahamas for 2020 and 2021 Year 2020 2021 Nominal GDP for the Bahamas ($) 11,208,600.00 9,669,500.00 Using only the nominal GDP, what do you know about (1) Changes in the level of output during this period? Explain. (ii) Changes in prices during this period? Explain. (iii) Would your answer change if you were using Real GDP? Explain.
Q: (a) Explain the difference between the SRAS curve and the LRAS curve. (b) Describe the state of the…
A: A model used in macroeconomics is the (AD/AS) model. It clarifies how an economy's price level and…
Q: A firm's demand curve is Q = 2-0.01P, where Q is measured in millions. The firm's output when…
A: Demand refers to the willingness to pay for a certain good or service that is available in the…
Q: A firm produces its output using the following production function: f(x₁, x₂) = √√√x₁ - 1 + 4x2…
A: The production function is a concept in economics that describes the relationship between inputs…
Q: 19. Refer to the diagram to the right which shows cost and demand curves facing a typical firm in a…
A: A firm produces a certain quantity of goods and sells in the market for a certain price. It helps in…
Q: malaysia unemployment problem make a mind map
A: An answer is provided on Country M's unemployment problem for the student to follow the details and…
Q: The following table shows the number of voters preferring various amounts of spending on a new…
A: The median is a statistical measure that represents the middle value of a dataset when it is…
Q: Suppose there is some hypothetical economy in which households spend $0.50 of each additional dollar…
A: John Maynard Keynes devised the AD-AS model to explain changes in the economy's production and price…
Q: A Monopolist has the following demand, marginal revenue, and marginal cost: p = 100 – 5q mr = 100 –…
A: The monopoly market is defined as a single market characterized by one buyer and seller. There is no…
Q: Individual retirement accounts (IRAS) were established by the U.S. government to encourage saving.…
A: Future Value refers to the value that a certain investment scheme or alternative becomes at a…
Q: 16. The demand for euros in the foreign exchange market equals 8000 - 2000e and the supply of euros…
A: Exchange refers to the value of one currency in terms of the currency of another country. There are…
Q: Assume again that we have a simple 2 period model of dynamically efficient extraction of a…
A: Price refers to the sum of money that is used in exchange for a good or service in the market. It is…
Q: You sure it is 12.232 and not 14.232 for period 2?
A: Sift through the process and check for conceptual inaccuracies.
Q: On the following graph, use the orange points (square symbol) to plot points along the portion of…
A: The supply curve of a product is a graphical representation of the quantity supplied on various…
Q: A firm has a production function f(x, y) = 1.80(x0.10 + y0.10)2 whenever x > 0 and y > 0. When…
A: The objective of the question is to determine the returns to scale of the firm's production…
Q: Which of the following statements is true? OA. Economies of scale usually exist in perfect…
A: There are many sellers, however, the products produced by each seller are different. The products…
Q: A1. REFER TO FIGURE 1 Which of the following statements does NOT apply? a. The industry comprises a…
A: In economics, perfect competition is a hypothetical market structure characterized by the following…
Q: The government's role is to prevent unemployment and prevent inflation at the same time. ● If the…
A: Unemployment refers to a situation where a person is actively searching for employment but is unable…
Q: The diagram below shows the domestic demand and supply curves for denim jeans in Canada. The…
A: Trading activities require a number of policies that must be met to transfer goods across the…
Q: Which of these is likely to be an effect of advertising? Shifts out the demand curve Shift out the…
A: Advertisement is a form of promotion of a particular product. As the markets are facing enormous…
Q: The bank you own has the following balance sheet Reserves Loans Assets OA. You can go to the…
A: The Federal Reserve:It has the responsibility to manage the activities of commercial and financial…
Q: 240- 200 160- 120- 80- 40 Price level (GDP deflator, 2007 = 100) LAS 120 too 10 7 8 9 10 11 Real GDP…
A: Macroeconomic analysis provides a comprehensive picture of the financial status of an economy. It…
Q: Identify a market failure in Trinidad and Tobago, identify the type of market failure and discuss…
A: The objective of this question is to identify a market failure in Trinidad and Tobago, classify the…
Q: Makayla bought a $1,000, 5-year inflation - indexed bond that had a real interest rate of 5.10% when…
A: The bond market is critical to the economy because it helps governments and businesses to raise…
Q: The central bank of the Dominican Republic decides to pursue a contractionary monetary policy.…
A: Monetary policy is the set of actions taken by a central bank to control the money supply and…
Q: Economic profit = accounting profit - the opportunity costs of resources already owned by the…
A: Economic Profit:Economic profit, also known as economic value added (EVA), is a measure of a firm's…
Q: On the following graph, use the black point (plus symbol) to indicate the profit-maximizing price…
A: The monopoly market is described as a single market characterized by one buyer and seller. There is…
Q: 4. Suppose the supply curve of portable radio rentals in Golden Gate Park is given by P= 5+ 0.1Q and…
A: The supply function for the portable radio rentals is given as The demand for the portable radio…
Q: Lauren grows grapes. Her average variable cost (AVC), average total cost (ATC), and marginal cost…
A: The marginal cost refers to the additional cost of production incurred due to additional production.…
Q: Reginald looked for work for six months but could not find a job to his liking. He now spends his…
A: A person is considered to be unemployed if he is of legal age and is willing and able to work but…
Q: Consider the market for beef. Suppose that the government has established a price ceiling on beef at…
A: The price ceiling refers to the maximum price that can be charged for the good by the market. Price…
Q: ill in the missing values in the table of data collected in the household survey. The working- ge…
A: The labor force is the sum of employed and unemployed people. i.e., Labor force = Employed +…
Q: Consider a hypothetical economy in which households spend $0.50 of each additional dollar they earn…
A: Aggregate demand is the sum of consumption expenditure, investment expenditure, government…
Q: Nationwide Bank has approached Hometown Bank with a proposal to merge. The following table lists the…
A: The Herfindahl-Hirschman Index (HHI) is a measure of market concentration and competition among…
Q: The following graphs show two firms operating in a monopolistically competitive market. The firm…
A: This can be defined as a cost that shows the type of cost that an individual, business, or any other…
Q: Why did the banana market industry collapse in St. Vincent and the Grenadines?
A: In the past, St. Vincent and the Grenadines' banana industry was an important part of the national…
Q: Graph for indirect tax on good A and the coefficient of the price elasticity of demand is >1
A: The objective of the question is to understand the impact of an indirect tax on a good (A) where the…
Q: Using the following table, calculate the missing exchange rates: Country Currency Price of one unit…
A: the exchange rate refers to the rate at which one currency can be exchanged for another. It is the…
Q: Lucas bought a house that they plan to rent out on a weekly basis. Which question is the Broker…
A: Since you have posted two independent McQs, according to our guidelines, only the first McQ is…
Q: Suppose for Home: Ms=2488, Md/P=5723-62770*R, P=3 Suppose for Foreign:Ms=1736, Md/P=7147-65320*R,…
A: Absolute Purchasing Power Parity (PPP) suggests that the exchange rate between two currencies will…
Q: a) What is the firm's marginal cost when it is producing y units of output? b) Imagine that the…
A: Production function is one type of function in which all kinds of combinations of inputs are…
Q: The company manufactures game tables which are sold for $60 each. To produce each game table, the…
A: The term "net income effect" describes the influence that variations in sales and expenses have on a…
Q: give some analysys on the graph Logarithmic series of the supply-demand gap and the spread under the…
A: Analyzing the graph showcasing the logarithmic series of the supply-demand gap and the spread under…
Q: 17) (OUP-U6-Q14) The figure depicts the isocost lines of a firm. Which of the following statements…
A: A production process requires a number of inputs that need to be utilized efficiently to reach the…
Q: Which of the following is not correct? a. Frictional unemployment is inevitable in a dynamic…
A: a. Frictional unemployment is inevitable in a dynamic economy - This statement is true. Frictional…
Q: The table below shows the cost information for a firm in a perfectly competitive industry. If all…
A: Perfect competition is a kind of theoretical market concept, where there are no monopolies or upper…
Q: Consider a lake found in the village of Sturbridge, and then answer the questions that follow. The…
A: Economic ProfitsEconomic profits are the revenue created minus explicit and implicit costs. Explicit…
Q: On the diagram to the right, a movement from A to B represents a OA. change in demand. O B. decrease…
A: The link between the amount of a product that is demanded and its corresponding price is shown by a…
Q: Charlie You chose low price, and Ms. Rimby also chose low price. What is Top Notch's payoff? $2…
A: The pay-off matrix for Top Notch and Blue Skies is provided below. Blue SkiesLow PriceHigh PriceTop…
Q: You are a member your company"s strategic planning group. Your company is in the business equipment…
A: The study of how firms make decisions and allocate resources in the face of restrictions is known as…
Q: Response: d-What is the value of f in the following cash flow diagram? 200 4 l=%10 yıllık 0 1 2 3…
A: Future Value refers to the value that an investment alternative will become at a certain point in…
Step by step
Solved in 5 steps with 1 images
- Nominal GDP for the Bahamas for 2020 and 2021 Year 2020 2021 Nominal GDP for the Bahamas (B$ Mil) 9,669.5 11,208.6 Using only the nominal GDP, what do you know about (1) Changes in the level of output during this period? Explain. (ii) Changes in prices during this period? Explain. (iii) Would your answer change if you were using Real GDP? Explain.Provide a table with the nominal GDP for Belize for 2020 and 2021. Using only the nominal GDP, what do you know about (i) Changes in the level of output during this period? Explain (ii) Changes in prices during this period? Explain. (iii) Would your answer change if you were using Real GDP? Explain. (c) Fill in the missing values in the table of data collected in the household survey. The working-age population, employment, unemployment, and labor force are measured.2011 (base Year) 2011 2012 2012 2013 2013 P Q P Q P Q Good A $30 900 $31 1000 $36 1050 Good B $100 192 $102 200 $100 205 to calculate Nominal GDP in 2012 and 2013. What is the growth of such nominal GDP from 2011 to 2012, and from 2012 to 2013. Do the same for the real GDP. Which has grown more, nominal GDP or real GDP? What does this imply?
- The following transactions took place in Ecoland in 2018: Trillions of 2014 dollars Government purchases 400 Taxes 360 Firms’ profits 300 Investment 400 Consumption expenditure 1000 Wages paid to labor 1400 Exports 300 Government transfer payments 150 Imports 350 (a). Calculate Ecoland’s real GDP in 2018, i.e., GDP measured in 2014 $. (b) How much do households save in Ecoland? Is it enough to finance domestic investment? (c) Does the government have a balanced budget? If not, what is the surplus or deficit? (d) If Ecoland’s nominal GDP in 2018 is $1900 trillion, how much inflation has Ecoland experienced since 2014?The economy of Tuland produces only two products fish and watches. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. 2009 2010 Quantity of fish Quantity of watches Price of fish 120 126 60 75 $10.00 $30.00 Using the above information, calculate the following values. (Enter your responses rounded to two decimal places.) $11,50 Price of watches $33.00 GDP for 2009 in 2009's prices GDP for 2009 in 2010's prices GDP for 2010 in 2009's prices $4 GDP for 2010 in 2010's prices 2$ Using 2009 as the base year, compute the percentage change in the price level, i.e. the inflation rate. hint: you need to compute the GDP deflator first. Using 2010 as the base year, compute the percentage change GDP deflator first. the price level, i.e. the inflation rate. hint: you need to compute the % The geometric average of the two inflation rates %Explain/demonstrate period(s), since 2010, where the Jamaican economy experienced GDP Growth. Include at least one (1) economic development that would have contributed to each of the economic situations materializing. Gross Domestic Product at Constant Prices from 2010 to 2019 (Source: STATIN, adjusted for ECN201) Item 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 The Expenditure Method Gross Domestic Expenditure 942,350 980,689 963,486 965,214 966,311 953,543 953,901 973,620 987,322 1,001,400 Private Final Consumption Expenditure 644,269 668,907 662,325 657,777 652,211 651,549 650,520 658,147 664,654 671,455 Government Final Consumption Expenditure 125,095 123,275 123,494 120,046 119,514 119,336 120,911 121,768 121,482 123,616 Gross Fixed Capital Formation 170,404 184,289 175,160 185,032 190,625 181,443 181,576 190,001…
- Q)The table below is extracted from Goodland Republic Bureau of Statistics records for 2016 -2017. Use the information to show the status of the economic welfare in Goodland Republic in 2018 based on your GDP deflator, nominal GDP and Real GDP. Also, explain the reasons why it is necessary to calculate real GDP. Show your work. The figure has been attached below Chapter: Marco-economics: Measuring the size of the economy(b) Provide a table with the nominal GDP for the Barbados for 2020 and 2021. Using only the nominal GDP, what do you know about (i) Changes in the level of output during this period? Explain. (ii) Changes in prices during this period? Explain. (iii) Would your answer change if you were using Real GDP? Explain.Question 1 Use Table 1 to calculate the following (show your calculations): 1. GDE for 2015. 2. GDE for 2016. 3. GDP for 2020. 4. GDE growth for 2016 5. GDP growth for 2020 Table 1: Expenditure on GDP (constant 2010 prices, R million) Final consumption expenditure Gross capital formation Imports of goods and services Exports of Gross fixed Change in goods and services General Year Households capital Government inventories formation 2015 1853657 614957 634540 20917 909345 966025 2016 1864436 628434 612111 -9653 912546 928730 2017 1902851 629712 618516 3189 905898 937740 2018 1937396 641512 609614 -5440 929792 968651 2019 1957656 651103 603928 -9130 906445 963940 2020 1851300 654482 498530 -89797 813265 803784 Source: StatsSA (2021) Question 2 2.1 Use the 2020 information provided in the table and show the determination of the value of total expenditure and of income using the 45-degree model. 2.2 With following values, c 0,7, t 0,41 and m 0,86 use the multiplier and calculate the…
- The table below is extracted from Goodland Republic Bureau of Statistics records for 2016 -2017. Use the information to answer the questions that follow.Examine the status of the economic welfare in Goodland Republic in 2018 based on your GDP deflator, nominal GDP and Real GDP. Also, explain the reasons why it is necessary to calculate real GDP. Show your work. Price 2017 (base year) Price 2018 Item Production Price per unit($) Production Price per unit($) Rice 50,000 1.50 55,000 2.00 Wheat 100,000 2.00 98,000 2.50 Tractors mid-size 50,000 23,000.00 45,000 24,500.00 Cotton 120,000 100.00 110,000 120.00 Used cars 5,000 5,000.00 6,000 7,000.00 Manufacture garments 150,000 50.00 145,000 70.00 Eggs 2,000 2.50 2,300 3.50 Coca Cola 6,000 0.80 6,500 1.20 Pepsi Cola 700 1.10 850 1.50 Beef 5,000 6.50 4,800 8.50 Second-hand clothes 500…Question # 5 a: Calculate Nominal and Real GDP for each year. Consider the base year is 2013. YearBottles of Diet Coke (units)Price by Bottle in Rs 2013100,00010.25 2014400,00030.50 2015500,00030.75 2016800,00040.25 b: Analyze how much Pakistan’s GDP and each of its components is affected by the following transactions? Explain your answers (Maximum 200 words). i) Toyota Motors issues new shares to finance the construction of an automobile plant in Pakistan.ii) Your friend wins Rs.2 million in the lottery in Dubai iii) Rabia spends Rs.1500 to buy her husband dinner at the finest restaurant in Karachiiv) General Motors builds Rs.40 million worth of cars, but consumers only buy Rs. 38 million worth of them.v) Sadia spends 50000 on a computer to use in her editing business in Karachi. She got last year’s model on sale for a great price from a local manufacturer. (Sub parts to solved).QUESTION 26 The table below contains data for the country of Candyland. The base year is 2011. Year GDP Nominal GDP Deflator $2000 100 $3000 120 $3750 150 $6000 2011 2012 2013 2014 200 Refer to Table above. Which of the following is not correct? This economy experienced growth from 2011 to 2012 This economy experienced inflation from 2011 to 2012, from 2012 to 2013, and from 2013 to 2014 This economy experienced growth from 2012 to 2013 This economy experienced growth from 2013 to 2014