ECON 2500 Study Guide - List Of Countries By Real Gdp Growth Rate, Gdp Deflator, Durable Good

• School: York University
• Department: Economics
• Course: ECON 2500
• Professor: Xianghong Li

Document Summary

60000: suppose an economy produces only the 3 goods above, calculate the nominal gdp for both years. Calculate the nominal gdp growth rate from 2000 to 2001. Calculate the real gdp growth rate from 2000 to 2001. Calculate the corresponding inflation rate from 2000 to 2001: redo part (a) but use 2001 as the base year. Suppose consumers of the economy purchases all the bicycles and computers shown in the table (consumers have no other purchase and do not purchase aeroplanes). Calculate the corresponding inflation rate from 2000 to 2001. Redo the problem by setting 2001 as the base year. Suppose instead that the economy produces only aeroplanes and computers but bicycles are imported. The following is a national account for an economy in year 2003: 1480: calculate consumption, gross investment, government purchases, net. Exports and the gdp of the economy in 2003: suppose at the beginning of 2003, the economy has ,000 billions worth of physical capital stock.