The country of Arrakis produces only three goods, as listed in the table below. Using 2019 as the base year, what is real GDP in 2020? 2018 Price 2019 Quantity Price 2020 Quantity Price Quantity
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- Price (Php/kg) 20 25 Quantity Supplied (qs) of Palay in Luzon (in billion kg) 11 12 Quantity Supplied (qs) of Palay in Visayas (in billion kg) 4. Compute and interpret from PhP 20 to PhP 25. 3.0 3.5 Quantity Supplied (qs) of Palay in Mindanao (in billion kg) 4.0 4.5 Quantity Supplied (qs) of Palay in the Philippines (in billion kg) 1. In one figure, graph the supply curve in Luzon (sL), Visayas (SV), Mindanao (SM) and the market supply curve in the Philippines (SP). 2. Express the individual supply curves and the market supply curve in equation form. 3. Interpret the slope and the intercept of the market supply curve. the point elasticity of market supply of palay as price increasesYour island economy has been thriving for many years now, and has grown large, with many people, services, goods, and trade available. In your island economy, you currently have no government. You know the following information: • People seem to spend about 80% of their income. • People import (from a neighbouring island!) about 15% of their goods and services. • Business Expenditure is currently at $2,000. • Exports/year are worth $1,000 3. There is a virus in a neighbouring economy, and as a result, your exports and imports both drop to zero, respectively. Graph the impact of this on both your equilibrium GDP and budget balance. What is our GDP now, and what is our budget balance?Suppose a nation's economy produced the amounts of goods given below, along with their associated prices. \table[[ Year, Clothing, Food, Tractors], [,Amount, Price, Amount, Price, Amount,Price], [2023, 100, $8, 200, $3,30,$100 1. Suppose a nation's economy produced the amounts of goods given below, along with their associated prices. Year 2023 100 Clothing Amount Price $8 Food Amount Price Tractors Amount Price 200 $3 30 $100 2024 120 $6 240 $3 25 $150 (a) Based on the data, did this economy improve in production, decline in production, or stay the same in production between the years 2023 and 2024? Explain/Justify your answer with specific values. (b) Using the GDP Deflator method, calculate the inflation rate from 2023 to 2024.
- Cambodinam had a GDP in 2020 of 300 billion pesos. In 2021 its GDP was 330 billion pesos. The inflation rate in Cambodinam in 2020 was 8%. (CPI was 108) Calculate 1. The Nominal GDP growth rate in 2021. 2. The Real GDP in 2021 expressed in 2020 dollars. 3. The Real GDP growth rate in 2021Assume you have the following data for a hypothetical country for a specific year (in billions of ZAR): Wages and Salaries: R2,500 Interest: R300 Rent: R200 Profits: R1,000 Taxes (Indirect Taxes Minus Subsidies): R400 Depreciation: R500 Given the data above, which of the following methods of calculating Gross Domestic Product (GDP) may be used? A. Expenditure approach B. Income approach C. Product approach D. Trade approachIn 2019, 200 KGs of oranges are produced at Rs.40/kg, 500 KGs of apples are produced at 120/kg, and 200 Glasses of orange juice are produced at Rs.150/glass. In 2020, 220 KGs of oranges are produced at Rs.50/kg, 450 KGs of apples are produced at 140/kg, and 230 glasses of orange juice are produced at Rs.135/glass. Assuming 2019 is the base year; calculate the nominal GDP in 2019
- The following table lists 2012 GDP per capita for four countries. The data are given in the national currencies of the countries. It also lists the price of a Big Mac in local currency in each country in 2012. The price of a Big Mac in the United States in 2012 was $4.10. Using the Big Mac as a representative commodity common to the countries, calculate the purchasing power parity (PPP)-adjustment factor for each country, and then the PPP level of GDP per capita in each country. (Round your responses for the PPP-adjustment factor to three decimal places and round PPP GDP per capita to the nearest integer.) 2012 GDP per Capita 2012 Big Mac Price Purchasing Power Parity (PPP)- Adjustment Factor PPP Level of GDP per Capita Norway (krone) Poland (zloty) 579,162 41 krone 41,398 9.1 zloty Turkey (Turkish lira) 19,580 6.6 Turkish lira United Kingdom (British pound) 24,740 2.49 pounds AFARIThere are two economies: Mexico and the United States. On year 1, the Mexican economy produced $3000 billion dollars worth of goods and services. In that same year the U.S. economy produced $16,000 billion dollars of goods and services. From year 1 to year 2 the Mexican economy grew at 6% and the U.S. economy grew at 2.5%. This means that in year 2 the Mexican economy produced $ than it did in year 1, and that the U.S. economy produced $ and services more than it did in year 1. Fill in the correct numbers in the correct sequence from the choices below. 1.800; 4,000 18.000; 40,000 The answer is different from the other answers provided. 18:40 180; 400 billion more billion in goodsThailand's 2018 per capita GDP in International Dollars is $11,000. Per capita GDP (PPP) is $32,000. Which of the following statements is incorrect: O The average Thai worker produced the same quantity of goods and services as the average American who produced $11,000 worth of goods and services. The average Thai worker enjoys the same standard of living as an American who earned $32,000 in 2018. O The Thai baht has more purchasing power in Thailand than $1 U.S. has in the United States. O The average Thai worker produced the same quantity of goods and services as an American who produced $32,000 worth of goods and services. 32 2
- Kindly answer in narrative form. Please cite your sources. Thank you so much!1. What are the GNP and Per capita GNP in Denmark?2. What Type of Currency does Denmark have? and what is the relation to US Currency?Alada Belam Canson Country GDP $10,000 $20,000 $ Tij = 0.001 × [(Y₁ × Yj) / D¡j] Distance from: Alada 100 km 250 km Distance from: Belam If the trade volume between Alada and Canson equals to the trade volume between Alada and Belam, what is the expected GDP for Canson? a. 50,000 b. 25,000 c. 100,000 d. 40,000 100 km 100 kmWorld consumption of silver, Q, in millions of ounces, to make jewelry and the price of silver, P, in dollars per ounce are given in the table below. Year 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 162.2 159.2 187.1 193.5 202.6 189.2 196.3 203.1 201.3 187.5 P ($/0z) 35 25 15 5 155 165 175 185 195 205 P ($/0z) 35 25 15 Which of the following figures show possible demand curves for the the data? Select all possible correct choices. 25 15 5 t 155 165 175 185 195 205 P ($/02) 35 25 15 5 155 165 175 185 195 205 P ($/0z) 35 25 Q Q(million oz) P 15 5 155 165 175 185 195 205 Q (million oz) Q (million oz) 35.12 31.15 23.79 19.08 15.68 17.14 17.05 15.71 16.21 15.70 Q (million oz)