Microeconomics Composition

Oluwatobi Onibatedo

Eco 301

08/24. 2013

WEEK 1 HOMEWORK

Problem you

1 . a. Suppose the real GDP happens to be $97 billion per year and natural actual GDP happens to be $100 billion dollars. Measured as a percentage, what is the real GROSS DOMESTIC PRODUCT gap?

Alternatives

Actual real GDP- Organic Real GDP =GDP gap over 95

= $97- $100= -3/100 = -3%

GDP GAP can be -3%

The negative answer means the economy as a whole is a downturn.

1(b) Suppose natural real GDP is growing by simply $4 billion per year. By simply how much need to real GDP have grown after 2 years to close the actual GDP gap?

Real GROSS DOMESTIC PRODUCT is $4billion Per Year

In 2 years sama dengan 4b 5. 2 sama dengan $8billion

The actual GDP must have risen in two years by simply 8 billion to close the gap

Y- ($100+8) =

(97+8)-108=

-2. 5/108= -2. 3%

Issue 2:

Assume that major private home investment can be $800 billion dollars and the federal government is currently running a $400 billion deficit. If households and businesses are conserving $1, 1000 billion, what is the value of net exports? Work with equation 2 . 6 to describe answer.

Capital t – G = (I + NX) – H.

100-800- 400= -200. In conclusion the value of net export products is – 200.

Problem 5:

if perhaps nominal GDP is $10,50, 608 and real GDP is $10, 400, precisely what is the value of the GDP deflator?

Solution

GROSS DOMESTIC PRODUCT Deflator can be Nominal GROSS DOMESTIC PRODUCT Over Actual GDP. You divide

$10, 608/$10, 400

Answer = 1 . 02

Problem 10:

In 2009, civilian career was 139, 877, 000 and unemployment was 16, 265, 1000. What was the unemployment level?

Solution

13, 265, 000 / (139, 877, 000+14, 265, 000) x 90 = 9. 1

The unemployment price is on the lookout for. 1 %



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