OA. (1) is true; (2) is false. OB. (1) is false; (2) is true. OC. (1) and (2) are false. OD. (1) and (2) are true. Price level (GDP deflator, 2007-100) 110 100 90 00 80 80 70 % 60- LAS SAS
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am. 113.
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- Why is the GDP deflator not an accurate measure of inflation as it impacts a household?The Consumer Price Index is subject to the substitution bias and me quality/new goods bias. Are the Producer Price index and the GDP deflator also subject to these biases? Why or why not?Describe a situation, either a government policy situation, an economic problem, or a private sector situation, where using the GDP deflator to convert from nominal to real would be more appropriate than using the CPI.
- DBS Farms is a producer and retailer of farm products. DBS main products are Mangoes, Pawpaw and Pineapples. The current price of the Mangoes per Kilogram is GHS 50, the Pawpaw/Kg is GHS 80 and the Pineapple is GHS 40. This year the DBS Farms sold 10,000 kgs of Mangoes, 20,000 kgs of Pawpaw and 1 million kgs of Pineapples. In an attempt to improve revenue, the managers of the firm have decided to increase all prices by 10%. Market research has suggested that the price elasticity of demand for each product is: Mangoes: - 1.5; Pawpaw: -2019 2020Commodities Price Quantity Price QuantityA 3 30 5 25B 4 20 5 30C 20 18 25 25a) Using the data given above, compute the Nominal and Real GDP for 2019, and 2020. (The base year is 2019). b) Compute the inflation rate for the year 2020 by using the GDP deflator.Depreciation 200 Exports 150 public transfer 200 Gross domestic private investment 300 corporate income tax 100 factor receipts from abroad 400 gevenment expenditure on goods and services 250 interest income 800 compensation of employees 2600 net interest on government debit 50 indirect business taxes 100 factor payments to abroad 200 imports 200 proprietors incom(profits) 700 retained corporate profit 200 personal consumption expenditure 4500 personal taxes 100 social security contribution 50 rental income 600. From the above data find personale disposable income.
- Differentiate between GNP and GDP.Also Find out GNP at factor cost of thegiven data.The net domestic product at market price of an economy is Rs.4500cr. Thecapital stock worth Rs.4000cr and it depreciates at the rate of 10% per annum. Netindirect tax amount to Rs.130cr,factor income from rest of the world is 400cr. And torest of the world is 600 cr.What are the differences between national income, personal income, and disposable personal income? Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.Question 21 I NGDP in the base year and RGDP in the current aro equal, then Oa There has been inflation or deflation Ob. There has been deflation only Oc There has been inflation only Od The GDP deflator must be equal to 1
- If exports and imports is US are $450 mil- lion and $380 million respectively Calculate the value of net exportsNational Income at constant prices can be obtained by multiplying current production of output to _______. a. Current prices b. Base year output c. Current taxes d. Base year priceeach, and Abay buys 10 red apples. In year 2, red apples cost birr 2, green apples cost birr 1, 11. Abay consumes only apples. In year 1, fed apples cost birr 1 each, green apples cost birr 2 each, and Abay buys 10 red apples. In year , red apples cost birr 2, green apples cost birr 1. and Abay buys 10 green apples.