Question

Explain why the traditional fixed-weighted measure of real GDP is preferred to nominal GDP for assessing...

  1. Explain why the traditional fixed-weighted measure of real GDP is preferred to nominal GDP for assessing changes in an economy’s production over time.

                                                                                                                       

  1. Explain why a chain-weighted                measure of real GDP is preferred to the traditional fixed-weighted measure of real GDP.
Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Real GDP is a more accurate measure of an economy's production than nominal GDP because: Select...
Real GDP is a more accurate measure of an economy's production than nominal GDP because: Select one: A. Real GDP includes the value of exports, but nominal GDP does not B. Real GDP does not include the value of intermediate goods and services, but nominal GDP does C. Real GDP measures the value of the goods and services an economy produces, but nominal GDP measures the value of the goods and services an economy consumes D. Real GDP is not...
Explain the difference between nominal and real GDP. Which of the two is a better measure...
Explain the difference between nominal and real GDP. Which of the two is a better measure of economic growth? Why?
Explain the difference between nominal and real GDP and why real GDP is necessary to compare...
Explain the difference between nominal and real GDP and why real GDP is necessary to compare prior years’ data.
1)    Explain what is the difference between real and nominal GDP? 2 ) and explain why do...
1)    Explain what is the difference between real and nominal GDP? 2 ) and explain why do economists need to make this distinction? 3)   Is the CPI a biased measure of the inflation rate? Explain your answer.
Contrast the ideas of nominal and real GDP. Why is one more reliable than the other...
Contrast the ideas of nominal and real GDP. Why is one more reliable than the other for comparing changes in the standard of living over a series of years? Use the concept of real and nominal GDP to compare the years 1980 and 2017. Which year was a better year for the economy and why
1. Explain the difference between real GDP and nominal GDP. 2. Discuss the reasons that explain...
1. Explain the difference between real GDP and nominal GDP. 2. Discuss the reasons that explain why GDP is not a perfect measure of economic activity in a country (hint, there are four main reasons 3. What does GDP per capita tell us about a nation's economy? What issues does conventional GDP methodology exclude? 4. Explain how “good institutions” enhance the incentives for entrepreneurship 5. Why are property rights important for economic development?
5. Real versus nominal GDP Consider a simple economy that produces two goods: pens and erasers....
5. Real versus nominal GDP Consider a simple economy that produces two goods: pens and erasers. The following table shows the prices and quantities of the goods over a three-year period. Year Pens Erasers Price Quantity Price Quantity (Dollars per pen) (Number of pens) (Dollars per eraser) (Number of erasers) 2018 1 150 2 160 2019 2 135 4 230 2020 3 110 4 165 Use the information from the preceding table to fill in the following table. Year Nominal...
Real versus nominal GDP Consider a simple economy that produces two goods: cupcakes and muffins. The...
Real versus nominal GDP Consider a simple economy that produces two goods: cupcakes and muffins. The following table shows the prices and quantities of the goods over a three-year period. Year Cupcakes Muffins Price Quantity Price Quantity (Dollars per cupcake) (Number of cupcakes) (Dollars per muffin) (Number of muffins) 2012 1 120 1 195 2013 2 130 4 195 2014 4 130 4 145 Use the information from the preceding table to fill in the following table. Year Nominal GDP...
Why do economists prefer real GDP to nominal GDP when measuring the size of an economy?...
Why do economists prefer real GDP to nominal GDP when measuring the size of an economy? Question 8 options: When an economy experiences inflation, its nominal GDP tends to overvalue an actual change in the quantity of goods and serviced produced. Real GDP rises for two reasons: an increase in output and an increase in prices. When an economy experiences inflation, its real GDP is greater than its nominal GDP. Nominal GDP is GDP adjusted for inflation.
8. Discuss why the Real GDP is a good measure of a countries economic well being...
8. Discuss why the Real GDP is a good measure of a countries economic well being and why it is a poor measure. a. (5 points) Why is the real GDP a good measure. b. (5 points) Why is the real GDP a poor measure.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT