Wednesday
April 16, 2014

Homework Help: Economics

Posted by Randy Johnson on Monday, December 1, 2008 at 10:27pm.

Help

The answer i got is :
GDP grew 10%

GDP for 2006 using 2005 as the base year increase by 20%

real GDP grow? 10%

If i'm right, let me know, if not, please show Calculation

Thank You


Use the following data to answer questions 1-3 (be sure to provide all calculations).
Quantity
Year CDs Tennis Racquets

2005 90 180
2006 100 90

Price
CD's Tennis Racquets
$18 $100
$20 $110

Calculate real GDP for 2005 and 2006 using 2005 prices. By what percent did real GDP grow?

Calculate the value of the price index for GDP for 2006 using 2005 as the base year. By what percent did prices increase?

Now calculate real GDP for 2005 and 2006 using 2006 prices. By what percent did real GDP grow?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Economics - The answer i got is : GDP grew 10% GDP for 2006 using 2005 as the ...
economics - 1. Use the following information to answer the questions below: ...
macroeconomics - Year - 2000 Nominal GDP: 9,817 Real GDP: ___________ GDP ...
macroeconomics - 23. The next four questions refer to the following price and ...
Macroeconomics - How do you calculate the nominal GDP and the real GDP of ...
Economics - The task of my assignment was to calculate the Nominal GDP, given ...
Economics - 1) If C = 1000 + 7/8[GDP-1000], I = 700 and G = 1000 and the economy...
economics - What are the following variables used for in economics: Nominal GDP...
Economic - All of the following refer to the Economy of Ecoland: - GDP in 1990 ...
math - Average Growth Rate(2000-2009)of China - GDP: 10.9 Population: 0.8 Per ...

Search
Members