Question

Suppose that nominal GDP was $9000000.00 in 2005 in Orange
County California. In 2015, nominal GDP was $12000000.00 in Orange
County California. The price level rose 3.00% between 2005 and
2015, and population growth was 4.50%. Calculate the following
figures for Orange County California between 2005 and 2015.

Nominal GDP growth was __%

Economic growth was __%

Inflation was __%

Real GDP growth was __%

Per capita GDP growth was __%

Real per capita GDP growth was __%

Answer #1

Suppose that nominal GDP was $9750000.00 in 2005 in Orange County
California. In 2015, nominal GDP was $11500000.00 in Orange County,
California. The price level rose 2.00% between 2005 and 2015, and
population growth was 3.25%. Calculate the following figures for
Orange County California between 2005 and 2015.
a.
Nominal GDP growth was %.
b.
Economic growth was %.
c.
Inflation was %.
d.
Real GDP growth was %.
e. Per
capita GDP growth was %.
f.
Real per capita...

Suppose that nominal GDP was $9250000.00 in 2005 in Orange
County California. In 2015, nominal GDP was $11000000.00 in Orange
County California. The price level rose 2.00% between 2005 and
2015, and population growth was 3.50%. Calculate the following
figures for Orange County California between 2005 and 2015. Give
all answers to two decimals.
a. Nominal GDP growth was %.
Part 2 (1 point)
b. Economic growth was %.
Part 3 (1 point)
c. Inflation was %.
Part 4 (1 point)
d. Real...

Suppose that nominal GDP was $10000000.00 in 2005 in Orange
County California. In 2015, nominal GDP was $11750000.00 in Orange
County California. The price level rose 3.00% between 2005 and
2015, and population growth was 4.00%. Calculate the following
figures for Orange County California between 2005 and 2015. Give
all answers to two decimals.
a. Nominal GDP growth was %.
Part 2 (1 point)
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b. Economic growth was %.
Part 3 (1 point)
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c. Inflation was %.
Part...

Suppose that nominal GDP was $9500000.00 in 2005 in Montgomery
County Maryland. In 2015, nominal GDP was $11250000.00 in
Montgomery County Maryland. The price level rose 1.50% between 2005
and 2015, and population growth was 4.25%. Calculate the following
figures for Montgomery County Maryland between 2005 and 2015. Give
all answers to two decimals.
a. Nominal GDP growth was %.
b. Economic growth was %.
c. Inflation was %.
d. Real GDP growth was %.
e. Per capita GDP growth was %.
f. Real...

Suppose that nominal GDP was $12 trillion in 2040 in Mordor. In
2050, nominal GDP was $15 trillion in Mordor. The price level fell
5% between 2040 and 2050, and population growth was 1%. Between
2040 and 2050 in Mordor, nominal GDP growth was % and economic
growth was %. Give your answers to one decimal place. Part 2 (1.3
points) Suppose that nominal GDP was $20 trillion in 2040 in
Mordor. In 2050, nominal GDP was $18 trillion in...

The accompanying table shows data on nominal GDP (in billions of
dollars), real GDP (in billions of 2005 dollars), and population
(in thousands) of the United States in 1960, 1970, 1980, 1990,
2000, and 2010. The U.S. price level rose consistently over the
period 1960–2010.
Year Nominal GDP (billions of dollars) Real GDP (billions of
2005 dollars) Population (thousands)
1960 $526.4 $2,828.5 180,760
1970 1,038.5 4,266.3 205,089
1980 2,788.1 5,834.0 227,726
1990 5,800.5 8,027.1 250,181
2000 9,951.5 11,216.4 282,418
2010...

In 2015, real GDP was SAR 12,247 billion. In 2018, it was
SAR13,206 billion. During the same period, the Saudi population
rose from 22.9 million to 25.4 million. a. Calculate real GDP per
capita in 2015 and 2018. By what percentage did output per person
grow over this period? b. Suppose that real GDP grown by 3% each
year from 2015 to 21018, what would real GDP have been in 2018?

Country
Real GDP 2014
Real GDP 2015
Blissful Acre
$150,000,000
$156,000,000
Happy Haven
$6,000,000
$6,300,000
Use the table above for the following questions
What is Blissful Acre’s rate of growth of real GDP?
What is Happy Haven's rate of growth of real GDP?
If Blissful Acre’s population growth between 2014 and 2015 is
2%, what is the rate of growth of real GDP per capita
If Happy Haven’s growth rate of real GDP per capita is 2.5%,
what is the...

Given information:
Year
Nominal GDP (Billions)
Gdp Deflator
Population
CPI
Medium Family Income
Question: Calculate and state the following for the years shown for
the XYZ economy: the rates of growth (% per year) of :nominal
GDP; real GDP; real GDP per capita, Real
Medium family income (Provide the formula to calculate the above in
detail)

If a country’s nominal GDP is growing at 4 percent per year
,annual inflation is 2 percent per year ,and the population growth
rate is 0.5 percent per year, what is the growth rate of real GDP
per capita?

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