Calculate the growth rate of Nominal GDP between 2012 and 2013 (up to two places after decimal, no % sign) Year 2011 2012 2013 Typed numeric answer will be automatically saved Nominal GDP $13,399 14,078 14,441 Real GDP $12,976 13,254 13,312

Suppose in a simple economy the following is produced. Note that all cheese produced is used in the production of cheeseburgers and the base year is year 1. Product Quantity (Year 1) Price (Year 1) Quantity (Year 2) Price (Year 2) Cars 50 20 100 30 Homes 10 50 20 160 Cheeseburgers Cheese 100 5 50 1 150 75 6 Dragged and dropped options on the right-hand side will be automatically saved. For keyboard navigation... SHOW MORE What is the nominal GDP in year 1 of this simple economy? What is the real GDP in year 2 of this simple economy? In year 3 the GDP deflator is 145. What is the inflation rate between year 2 and year 3? In year 3 the Real GDP is 4000. What is the rate in real GDP between year 2 and year 3? = 12.68% = 3625 = 6.67% =u 6.62% III =U 2000 III 1950 3750

The GDP of a country was $300 billion in 2016. In 2017, consumption spending increased by $200 billion, imports increased by $150 billion, and investment fell by $25 billion, and the country experienced inflation. Real GDP for 2017 will be: Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer a b C d less than $325 billion more than $325 billion $300 billion $325 billion

United Kingdom Kenya Price per Value of Value of unit (GBP) output Оuаntity Price per Quantity unit (KSh) output (GBP) (KSh) 5000 per 75 650,000 Equipment (millions of 500 unit units) Food 500 10 per kg 125 750 (millions of kg) Total GDP (local currency) a. If equipment is fully tradable, so that the price in Kenyan shillings (KSh) equals the price in pounds times the market exchange rate, what is the market exchange rate? b. Based on its relative price, does it appear that food is tradable? Is it more or less expensive in Kenya, compared to the UK? c. Fill in the table above (ignoring cells with "-"). What is the UK's total GDP in GBP? What is Kenya's total GDP in KSh? d. What is Kenya's GDP in GBP at market exchange rates? e. Following the calculations on pp 28-29 of ED, what is Kenya's GDP in pounds calculated by using UK prices for each individual product and applying that price to Kenya's quantities (that is, using purchasing power parity [PPP])? f. Is the value you calculated in…