Question

You have been given the following data on Pakistan GDP:

Nominal GDP GDP Deflator

Year in billions of rupees (Base Year = 2006)

2019 38,559 282

2015 27,443 245

Calculate the growth rate of nominal GDP between 2015 and 2019. (Hint: the average annual growth for variable X for N-years can be calculated as .) (0.5 Marks)

Calculate the growth rate of GDP deflator between 2015 and 2019. (0.5 Marks)

Calculate real GDP in 2015 measured in 2006 prices. (0.5 Marks)

Calculate real GDP in 2019 measured in 2006 prices. (0.5 Marks)

Calculate growth rate of real GDP between 2015 and 2019. (0.5 Marks)

Answer #1

*=> growth rate in nominal gdp between 2015 and
2019 = 38559-27443 / 27443 *100 = 11116/27443*100 = 0.4050*100 =
40.50%*

** =>** the growth rate of GDP
deflator between 2015 and 2019 = 282-245 / 245 *100 = 37/245*100 =
15.10%

=> real GDP in 2015 measured in 2006 prices = Nominal gdp / gdp defletor *100 = 27443/245*100 = 11201

=> real GDP in 2019 measured in 2006 prices = 38559/282*100 = 13673

=> growth rate of real GDP between 2015 and 2019 = 13673-11201/11201*100 = 2472/11201*100 = 22.07%

The following table
gives information on nominal GDP (in billions of $) and the GDP
deflator (base year = 2009):
Year
NGDP
Deflator
RGDP
1950
2000
2015
300
10,252
18,219
13.064
78.069
104.757
a. Fill in the values for real
GDP.
b.
Using the growth formula that we identified in class, calculate the
average annual rates of nominal and real GDP growth from 1950 to
2000 (n = 50 years). Which do you think gives a better indicator of
true...

Suppose a county’s national accounts
are given by the following table.
Year
Nominal GDP
Deflator
Real GDP
2017
________
104
$755,000
2018
$855,000
105
_______
2019
$950,000
______
$896,226
Complete the missing data in the following table (show formula
and calculations here)
2017 Nominal GDP =
2018 Real GDP =
2019 Deflator =
What is the rate of inflation between 2017 and 2019? (show
formula and calculations)
What is the growth rate of real GDP between 2018 and 2019 (show...

Using 2015 as the base year, calculate nominal GDP, real GDP,
and the GDP price deflator for each year.
Year
Quantity of Strawberries
Price of Strawberries
Quantity of Cream (pints)
Price of Cream (per pint)
Nominal GDP
Real GDP
GDP Deflator
2015
100
3.00
200
2.00
2016
125
4.00
400
2.50
2017
150
5.00
500
3.00

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)

Year
Nominal GDP
Economic Growth
Workers
GDP Deflator
Capital
Population
CPI
M1
Inflation (with GDP Deflator)
2019
$22,000,000
2.10%
100
110
20,000,000
200
300
$4,000,000
1.10%
2069
$384,000,000
2.80%
150
320
60,000,000
300
1200
$40,000,000
2.90%
As you might expect from the increase in nominal GDP compared to
the increased in the GDP deflator, real GDP grew over these
projected 50 years. Also, population growth was modest given the
span of 50 years. Will all of this in mind, by...

Suppose you have the following information: 2017 is the Base
Year Nominal GDP in 2017 = $17 Trillion Nominal GDP in 2018 = $18.5
Trillion The GDP Deflator in 2018 is 1.045 What is the 2018: a)
nominal GDP growth rate; b) real GDP growth rate; and c) inflation
rate?

See Hint Fill in the missing data in the following table.
Year
Nominal GDP
Real GDP
GDP deflator
2012
$180000
?
100.0
2013
?
$215,000
110.0
2014
$260,000
$220,000
?
2015
$290,000
?
125.0
2016
?
$240,000
130.0

A- The Bureau of Economic Analysis (BEA) calculates nominal and
real GDP for the United States. Currently, it uses 2012 as the base
year. Based on this information alone, what could you say about the
relationship between nominal and real GDP for 2012 for the United
States? (2 points)
B- In 2018, nominal GDP was approximately 20.5 trillion and GDP
deflator was approximately 110 . In 2019, nominal GDP was
approximately 21.5 trillion and GDP deflator was approximately 112.
Calculate...

2) Using the data below, calculate for each year: the GDP
deflator, the inflation rate, and real economic growth:
Nominal GDP: 2016= 4,540,332
2017= 5,987,201
2018= 7,231,600
Real GDP: 2016= 3,723,072
2017= 4,670,017
2018= 6,436,124

Year
Nominal GDP (billions of dollars)
GDP Deflator (2005 = 100)
Real GDP ($bn)
1960
543.3
19.0
1965
743.7
20.3
1970
1075.9
24.8
1975
1688.9
34.1
1980
2862.5
48.3
1985
4346.7
62.3
1990
5979.6
72.7
1995
7664.0
81.7
2000
10289.7
89.0

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