Question

Question 1: Canada's economy (Use the variable “Real GDP growth, % y-o-y” from BMI.)

1. How much did the Canadian economy grow throughout 2017?

2. Consider your answer to #1. If this growth rate continues, how long will it take for real GDP in Canada to double?

3. Draw a graph of Canada’s real GDP from year 2010 to 2018

Answer #1

After several years of solid growth in real per capita GDP,
economic growth in Brazil slowed substantially from 2012 to 2016,
and then rebounded in 2017. The 2017 Brazilian data below are from
the World Bank database called World Development Indicators.
Nominal GDP Growth Rate
GDP Deflator Growth Rate
Population Growth Rate
14.58%
3.79%
0.79%
A. What was the rate of economic growth for Brazil in 2017? Give
your answer to one decimal if necessary.
B. If the price level...

1. In 1999, real GDP per capita in the US was $43,820 (2012
dollars). In 2018, real GDP per capita was $56,803.
(a) What was the annual growth rate of real GDP per capita from
1999 to 2018.
(b) Suppose when you graduate, you get a good job and your
income is equal to GDP per capita. Also suppose your income grows
at exactly the same rate as the growth rate in GDP per capita each
year that you work....

Please, I need full explanation and correct answers.
1) In 2012, Northland had real GDP of $4.21 billion and a
population of 2.98 million. In 2013, real GDP was $4.59 billion and
population was 2.97 million. What was Northland's growth rate of
real GDP in 2013? 1) _______
A) 0.38 percent
B) 11.1 percent
C) 9.0 percent
D) 8.3 percent
E) 3.8 percent
3) Using the Rule of 70, if the country of Flowerdom's current
growth rate of real GDP...

1. Suppose that the annual rates of growth of real GDP of
Econoland over a five-year period were sequentially as follows: 3
percent, 1 percent, -2 percent, 4 percent, and 5 percent. What was
the average of these growth rates in Econoland over these 5 years?
What term would economists use to describe what happened in year 3?
If the growth rate in year 3 had been a positive 2 percent rather
than a negative 2 percent, what would have...

1.)
Over the period 1987-2017, annual growth in real GDP averaged
2.6% per year, growth in M2 averaged 5.5% per year, and growth in
velocity averaged -0.6% per year.
Calculate the average inflation rate over the period
1987-2017. Answer as a percent, round to one decimal
place and do not enter a "%" sign.
2.)
Assume growth in velocity is equal to zero and potential (trend)
real GDP grows at rate of 2% per year in the long-run.
If the central...

Harper: Economic Outlook 'Not So Positive'
Prime Minister Stephen Harper emerged from a meeting with
Finance Minister Jim Flaherty and Bank of Canada governor Mark
Carney in Ottawa saying the world economic picture is "not so
positive." The fear is that a failure to contain the European debt
crisis will push a weak global economy into a recession. Harper and
British Prime Minister David Cameron ended their meeting in Ottawa
with a call for European leaders to take decisive action...

1. Consider an economy that produces and consumes bread and
automobiles. In the table below are data for two different
years:
Year 2010
Year 2025
Price of an automobile
$50,000
$60,000
Price of a loaf of bread
$10
$20
Number of automobiles produced
100
120
Number of loaves of bread produced
500,000
400,000
Using the year 2010 as the base year, compute the following:
nominal GDP, implicit price deflator and the CPI.
2.
Assume that GDP (Y) is 5,000. Consumption...

Question 1 (1 point)
Which of the following can cause relative PPP to NOT hold in
the short run?
Question 1 options:
frictionless markets
state-sponsored monopolies
types of labor and unique skill sets than can only be found in
one area or certain areas
shipping costs
Question 2 (1 point)
If relative PPP holds, absolute PPP must hold.
Question 2 options:
True
False
Question 3 (1 point)
In 2019, the US had the highest nominal GDP in the world,
before...

1) Real GDP per capita, growing at a constant rate over
a 35-year period, doubles in size at
the end of that period. What must the annual growth rate
of real GDP per capita be for
this economy?
a) 2%
b) 1%
C)4%
D) 15%
-----
2) Assume China in 2008 has a per-capita income of$3000
and the U. S. has a per-capita income
of $40,000.Between 2008 and 2028 China grows at 9
percent while the U. S. grows at...

1. In which phase of the business cycle is the U.S. economy
currently in? ________________. How many months has the U.S.
economy been in this stage of the business cycle? ___________
months 2. How long has the current expansion/recovery lasted to
date? _________________ How does this compare to the average length
of U.S. recessions since 1854? ______________________________. 3.
What do the last four recoveries/expansions (that is, the current
recovery/expansion and the previous three recovery/expansions),
suggest about a new trend in...

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