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28 Sep 2019
1) In a small economy, gross investment in 2013 is $1500, consumption spending is $6000, net investment is $200, government spending is $1500, exports are $2000 and imports are $1000. What is the nominal GDP for this economy in 2013?
a) 10700
b) 10300
c) 10200
d) 10000
2) Calculate the rate of increase in the price level from 2012 to 2013 from the table below
2012
2013
Nominal GDP
$10,000
$12,000
Real GDP
$9,500
$10,500
a) 8.6%, b) 7.9%, c) -7.9%, d) -8.6%
1) In a small economy, gross investment in 2013 is $1500, consumption spending is $6000, net investment is $200, government spending is $1500, exports are $2000 and imports are $1000. What is the nominal GDP for this economy in 2013?
a) 10700
b) 10300
c) 10200
d) 10000
2) Calculate the rate of increase in the price level from 2012 to 2013 from the table below
2012 |
2013 |
|
Nominal GDP |
$10,000 |
$12,000 |
Real GDP |
$9,500 |
$10,500 |
a) 8.6%, b) 7.9%, c) -7.9%, d) -8.6%
Darryn D'SouzaLv10
28 Sep 2019