TIME
PRICE OF BOOKS QUANTITY OF BOOKS PRICE OF CHEESE Quanity
year 1 $4 15 $10 4
year 2 $6 10 $5 20
The table above shows data for the economy of Mexico, which produces two goods, books and cheese.
1-(a) Calculate the nominal gross domestic product (GDP) for year 2.
1-(b) Using year 1 as the base year, calculate real GDP for year 2.
1-(c) Calculate the GDP deflator for year 2.
1-(d) Assuming the market basket is composed of the quantities in year 1, calculate the consumer price index (CPI) for year 2.
1-(e) Suppose the book and cheese workers received a 2 percent increase in their wages. Based on your answer to part (d), would their real wages increase, decrease, or stay the same from year 1 to year 2 ? Explain.
Answer:
Nominal gdp in year 1 = $10
Real gdp in year 1 = $10
GDP deflator in year 1 = 100
Nominal gdp in year 2 = $32
Real GDP in year 2 =$20
GDP deflator in year 2 =160
Nominal gdp in year 3 = $60
Real gdp in year 3 = $30
GDP deflator in year 3 = 200
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Nominal GDP is GDP calculated using current year prices while Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation.
Nominal GDP = current year price x quantity produced
Real GDP = base year price x quantity produced
GDP deflator = (nominal GDP / real GDP) x 100
Nominal gdp in year 1 = (2 x $5) = $10
Real gdp in year 1 = (2 x $5) = $10
GDP deflator in year 1 =( $10 /$10 ) x 100 = 100
Nominal gdp in year 2 = (4 x $8) = $32
Real GDP in year 2 = 4 x $5 = $20
GDP deflator in year 2 = ($32 / $20) x 100 = 160
Nominal gdp in year 3 = 6 X $10 = $60
Real gdp in year 3 = 6 x$5 = $30
GDP deflator in year 3 = ($60 / $30) x100 = 200
Explanation:
Please someone answer in your own words
In line 19 (“I know . . . Independence”) and line 21 (“Yes . . . what”) , Beneatha’s repetition of “you” contributes to her tone of
a. admiration
b. admiration
c. suspicion
d. suspicion
e. detachment
detachment
amazement
amazement
scorn
Beneatha’s repetition of “you” contributes to her tone of: scorn.
A Raisin in the Sun.A Raisin in the Sun is the title of a play that was written by Lorraine Hansberry and it debuted on Broadway in 1959. The play was about the Youngers, which is a Black family that was living in a run down two (2) bedroom apartment on the south-side of Chicago in the United States of America.
Beneatha was the sister of Walter while Ruth Younger was the wife of Walter Younger. Also, she criticized her brother's dream of becoming a business man with a sarcastic, scornful and critical tone during most of the play.
Read more on Beneatha here: https://brainly.com/question/12880665
coming out in 2021 points 10
Answer:
ok btw it's 2022 not 2021
Explanation:
why just 10 points?
1. A popular TV talk show host regularly calls for severe legal
punishments for those convicted of illegal drug use. His
audience does not know that he is secretly addicted to
prescription drugs, which he acquires in both legal and illegal
ways, and that he is deeply ashamed of his own addiction.
Which of the following defense mechanisms is he employing to
reduce his own guilt feelings?
The defense mechanisms is he employing to reduce his own guilt feelings is denial and hostility to those involve in drug abuse.
What are defense mechanism?Defense mechanisms are known to be a kind of behaviors that people often use to separate themselves from any kind of unwanted or unpleasant situations, actions, or thoughts.
They are regarded as psychological strategies that can help people put distance between themselves and ill feelings, such as guilt.
Learn more about defense mechanism from
https://brainly.com/question/4523765
what is a bridge.
1. is it standard five lines and four.
2. pleasant, stable harmonic sound
3. transitional material connecting two sections of music
Answer:
3.
Explanation:
It is a part in a song in which it connects two parts. Kind of like how a bridge connects two roads and is transitional to the next road, it's the same way in a song.
the following macroeconomic data are from a fictitious country's economy in
The macroeconomic data are mostly used by governments when making budgeting spending, creating taxes or interest rates, making policy decisions etc.
What are Macroeconomic data?A macroeconomic data refers to data that consist of aggregate values of economic flows at the level of the total economy
The higher level of the aggregate values in macroeconomic data consist of data such as:
GDPNational IncomeThe lower level of the aggregate values in macroeconomic data consist of data such as:
income,expenditure,saving.In conclusion, the macroeconomic data are mostly used by governments when making budgeting spending, creating taxes or interest rates, making policy decisions etc.
Read more about macroeconomic data
brainly.com/question/15458963
What are some examples of mood dependent memory
Answer:
The majority of the time that I was studying for the exam, I was in a great mood. I was doing great in my classes, my relationships were intact, and I was healthy. This is an example of mood-dependent memory.
Explanation:
Aka your mood depends on the situation you are in
HELP! I have a push up and sit up test today and I can hardly do a single push up any tips on how to do one or at least fake one?
Answer:
pretend like u have a really bad arm pain and keep falling and they will put u for later
Answer:
when you do it make your head look down at your feet and it should be a bit easier but it doenst always work for people so try it before its your turn
Explanation:
what is skip counting by 3
Carly and Simon are renting formal clothes for an event.
They found a rental company that charges a fixed fee of $75 plus an additional fee of $30 per hour.
If this information was put into an equation, which amount would represent the y-intercept?
Answer:
The equation for this problem would be
Y=40x + 100
The y-intercept would be the 100
Explanation:
First Answer Will Get BRAINLIEST!!!!!!!
And a whole lot a points
What is the worst thing that ever happened to you or the worst thing you ever have done? The effect on you?? Or others??
Answer:
The worst thing I have ever done is get in a fight with my parents that lasted for years. When I was a teenager, I got in a bad fight with my parents. I can't even remember what it was about. But, after I went to college, I didn't talk to them for years. I felt alone for a long time, and conflicted with myself. It took a toll on me mentally and it lasted a long time. Eventually, I decided to just call. After that, we have improved our relationship and things are going well.
what is minimalism and why it has become a movement
Answer:
Minimalism emerged in New York in the early 1960s among artists who were self-consciously renouncing recent art they thought had become stale and academic. A wave of new influences and rediscovered styles led younger artists to question conventional boundaries between various media
Explanation:
Has the definition of happiness changed significantly over the last few decades?
Answer:
happiness is world that last long if you choos3 that path