Refer to the table above. What is the growth rate in real GDP from 2020 to 2021? Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13.
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| Year | Real GDP | Nominal GDP |
| 2019 | $15,510.79 | $17,310.70 |
| 2020 | $17,495.23 | $18,761.83 |
| 2021 | $18,209.59 | $19,253.97 |
Refer to the table above. What is the growth rate in real GDP from 2020 to 2021? Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13.
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- The figure below graphs log GDP for periods t = 1, t = 2, t = 3, t = 4, and t = 5. log GDP log 115. log 110. log 108 log 105 log 100 2 3 4 5 time (a) Calculate the rate of growth of GDP between periods 2 and 3. (b) Calculate the slope of the red line in the figure. (c) What is the geometric average rate of growth of GDP between time 1 and time 5?Calculate the quarter-over-quarter percentage change in GDP for the last four quarters: Quarter-Year GDP (Billions USD) % GDP Growth Q4-2020 5,267 -- Q1-2021 5,301 Q2-2021 5,398 Q3-2021 5,718 Q4-2021 6,104Suppose that the GDP of California increases by 8.0% each year. How long will it take for the GDP of California to double? Round your answer to one digit after the decimal. duration for California's GDP to double: Suppose that the GDP of Oregon today is exactly twice what it was 17 years ago. What was the average annual growth for Oregon over this time period? Round your answer to one digit after the decimal. average annual growth for Oregon: years % each year
- Calculate the average annual growth rate using the information in the table below. Round to two decimal places. Year Growth rate 2017 3.2% 2018 2.7% 2019 0.5% 2020 1.8%Nominal GDP (billions of cunent $) GDP defatar Population growth 101% Date 2007 $14,0618 10630 2008 143691 10n.62 0.93% 2009 14,129.0 109.61 2010 14,660.4 0S0% Use the data in the table above to calculate the economic growth rate for the United States from 2008 to 2009. Give your answer to two decimals. Note that all data is from the end of the year specified.Suppose we have the following data given to us in this table. Year Real GDP Nominal GDP Population 2010 11,306 12,860 50 2020 12,844 13,382 47 Given this data, we would expect the quality of life to have increased by what percentage over the last 10 years? Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13.
- The following table gives real GDP figures for an economy for four years. Fill in the growth rate for each year, and then find the average annual growth rate for the period. Enter all answers as percentages rounded to one decimal place. The average annual growth rate for this period is Year 1999 2000 2001 2002 %. Real GDP 140 billion 151.2 billion 166.3 billion 176.3 billion Growth Rate (%) % % %There is a chart for quesition 2 that is attached as an image. Suppose that work hours in New Zombie are 200 in year 1 and productivity is $8 per hour worked. What is New Zombie’s real GDP? If work hours increase to 210 in year 2 and productivity rises to $10 per hour, what is New Zombie’s rate of economic growth? Explain why sustained long-term economic growth comes from increases in labor productivity. Why do you think the trend rate of U.S. productivity growth has increased since the earlier 1973–1995 period? Hint: The quantity of labor and increases in labor productivity are important sources of economic growth. Between 1953 and 2015, in the US economy the labor force increased from 63 million to 158 million workers. Productivity growth has usually been the more significant factor. To calculate real GDP in a given year you have to multiply hours worked by productivity. 2. Suppose that New Zombie has adopted the framework used by the US Bureau of Labor Statistics to calculate its…A small economy only produces two goods: steak and potatoes. This information is shown in the table. Based on the table, if year 1 is the base year, the growth rate of real GDP is: Good Steak Potato 6.6%. 8.0%. 9.4%. 10.8%. Year 1 Price $15 $1 Quantity 1,000 50,000 Year 2 Price $20.00 $0.50 Quantity 800 60,000
- 1. The following table shows Spain's (awalizr) quarterly real GDP growth rates for the 2007–2012 period. (Roman numbers refer to quarters.) Variable 2007 2007 2007 2007 2008 2008 I II III IV I II Real GDP 7.6 7.3 6.5 6.4 5.6 4.6 Variable 2008 2008 2009 2009 2009 2009 III IV I II III IV Real GDP 3.1 0.5 -0.1 -4.1 -4.5 -3.3 Variable 2010 2010 2010 2010 2011 2011 I II III IV I II Real GDP -1.5 -0.2 0.0 0.4 0.5 0.5 Variable 2011 2011 2012 2012 2012 2012 III IV II III IV Real GDP 0.6 0.0 -0.7 -1.4 -1.6 -1.9 а) Plot real GDP growth rate in a graph, and identify a trend in the data. b) Based on the data shown, identify the beginning (i.e., the year and the quarter) of the current recession. 2. Unemployment is a very important topic in macroeconomics. A high unemployment rate means that a lot of individuals willing to work cannot find a job. This is bad for the economy, as some resources (i.e., labour) remain idle. Comment on the effects that being unemployed have on an individual.Gorgonzola is a small island nation with a simple economy that produces only six goods: sugar cane, yo-yos, rum, peanuts, harmonicas, and peanut butter. Assume that half of all sugar cane is used to produce rum, and one-fifth of all the peanuts are used to produce peanut butter. Use the production and price information in the table to calculate real GDP for 2013, 2014, and 2015 using 2014 as the base year. What is the growth rate of real GDP from 2013 to 2014 and from 2014 to 2015?Macmillan Learning Suppose that the GDP of California increases by 12% each year. How long will it take for the GDP of California to double? Round your answer to one digit after the decimal. duration for California's GDP to double: Suppose that the GDP of Oregon today is exactly twice what it was 22 years ago. What was the average annual growth for Oregon over this time period? Round your answer to one digit after the decimal. average annual growth for Oregon: years % each year
