15 Assume That An Economy Produces Only Two Goods Computers And Gasoline The Quantity And Price Of Each Are Given In 1 (441.43 KiB) Viewed 43 times
15 Assume That An Economy Produces Only Two Goods Computers And Gasoline The Quantity And Price Of Each Are Given In 2 (302.55 KiB) Viewed 43 times
15. Assume that an economy produces only two goods, computers and gasoline. The quantity and price of each are given in the table below. If the base year is 2000, how do nominal and real gross domestic product (GDP) change between 2000 and 2004?* Year Price of Quantity of Computers Computers (in millions) Price of Gasoline Quantity of Gasoline (in millions) 2000 $1,000 5 an $1 500 2004 $500 10 $2 250 O NGDP: No change, RGDP: Decrease NGDP: Increase, RGDP: Increase O NGDP: Increase, RGDP: No change NGDP: No change, RGDP: Increase
16. Which of the following groups would most likely to benefit from inflation? * pensioners creditors lenders borrowers 17. After shopping for grocery: Two packets of pasta and one bag of tomatoes, Samir saw a sign that announces a house sale and decided to buy it, and then he passed by the OMT to collect an amount of money his brother has sent him from Switzerland. When arranging and placing each activity under its appropriate GDP component, the order will be as follows: * Consumption of non-durable goods, residential investment, not counted Consumption of durable goods, consumption of nondurable goods and not counted. Consumption of durable goods, investment, transfer payment Consumption of non-durable goods, consumption of durable goods, financial transaction
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