ECO202Y1 Quiz: eco202 assignment 2 and self generated solutions.pdf

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magentagerbil794

2 Mar 2012

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6- in 2001, statistic canada switched to a new approach of calculating growth rate of real gdp, called chain-weight real gdp, instead of traditional fixed-weight method. Calculate following gdp growth rates for the different base years by the traditional method and also by chain-weight method. Electricity company: sugar company: cookie company: restaurants: : Total sales: total sales: total sales: total sales: . Wage payment 500 wage payment 300 wage payment 400 wage payment 600. Profits 300 electricity purchase 100 electricity purchases 100 electricity purchases 200. Profits 100 sugar purchases 200 sugar purchases 200. As you can check in the table, consumers consume the rest of electricity, and sugar. Chapter 2, questions 2, 4, 5, 6, 7. (same for the second edition) Disclaimer: the following answers are only suggested solutions, and may not include a complete solution for the questions and problems in your homework, as you must present in your assignments and/or exams.

Related Questions

The following table shows some data for an economy that produces only two goods: milk and honey.

Year	Milk		Honey
	Price	Quantity	Price	Quantity
	($)	(Quarts)	($)	(Quarts)
2016	1	200	2	100
2017	1	400	2	200
2018	2	400	4	200

The following table shows the Nominal GDP, Real GDP, and GDP Deflator for each year listed.

Year	Nominal GDP	Real GDP	GDP Deflator
Year	($)	($)	GDP Deflator
2016	400	400	100
2017	800	800	100
2018	1600	800	200

Compute the % change in the Nominal GDP, Real GDP, and the GDP Deflator in 2017 and 2018 from the preceding year.

Year	% Change in
Year	Nominal GDP	Real GDP	GDP Deflator
2017
2018

From 2016 to 2017, _______ did not change; and from 2017 to 2018, ________ did not change.

Comparing the changes in 2017 and 2018, economic well-being increased more in _________

viridianmosquito683

1.Consider an economy in which only food, clothing, and computers are produced. The established market basket is the following: 300 food, 40 clothing, 1 computer.