ASSIGNMENT 1.Suppose people consume 3 different goods. The following table shows the prices and quantities of each good consumed in 2019, 2020, and 2021. a.Calculate nominal GDP in each of the three years. b.Calculate Real GDP in each of the three years, using 2019 as the base year. c.Calculate the rate of inflation for 2020 […]
Calculate the rate of growth of the exchange rates between two currencies using exchange rate data on your selected countries.
Task one Calculate the rate of growth of the exchange rates between two currencies using exchange rate data on your selected countries. Before doing so, answer the following question. What is the rate of growth and which formula is used to calculate it? Display the rates of growth of the exchange rates between the two […]
Calculate the inflation rates in each of your two selected countries using the Consumer Price Index (CPI) from the 2022 WDI data.
Exchange rates between two currencies using exchange rate data Task One Calculate the rate of growth of the exchange rates between two currencies using exchange rate data on your selected countries. Before doing so, answer the following question. What is the rate of growth and which formula is used to calculate it? Display the rates […]
Calculate the inflation rates in each of your two selected countries using the Consumer Price Index (CPI) from the 2022 WDI data.
ASSIGNMENT Task One Calculate the rate of growth of the exchange rates between two currencies using exchange rate data on your selected countries. Before doing so, please answer the following question. What is the rate of growth and which formula is used to calculate it? Display the rates of growth of the exchange rates between […]
Calculate the rate of inflation for 2007 and 2008 using the GDP deflator as your price index. Assume that 2006 is still the base year.
Micro Economics National income accounting deals with the aggregate measure of the outcome of economic activities. The most common measure of the aggregate production in an economy is Gross Domestic Product (GDP). The table below provides Country’s national income accounting. Use this data to answer the following questions. Suppose people consume 3 different goods. The […]
According to neoclassical theory of distribution what happens to the real wages of skilled workers? Explain and support your answer with ONE labour market diagram for the skilled workers.
ASSIGNMENT Question 1 (20 points) – Topic 1 (save your answer as HW1-Q1.pdf) The following table provides the economic data for an economy. Year 2019 2020 2021 Price Quantity Price Quantity Price Quantity Good 1 32 80 36 120 34 110 Good 2 11 150 13 160 15 180 Good 3 43 40 44 50 […]
Why was there a difference between the growth rate in nominal GDP and real GDP?
1. (20 points) Nominal GDP GDP Deflator Year (tlillions 5) (base year 2005) 2020 $15 2002 $10 92 a. Calculate the growth rate of nominal GDP between 2002 and 2020. You may use the formula 100 x over an N-year period and then a calculator on the web, but make sure you show how you […]