题目
题目

ECON_002_001_25F Problem Set 2

多项填空题

An economy produces 500 apples at $2 each and 5 cars at $20,000 each. 1. Compute nominal GDP: [Fill in the blank], 2. If the base year price of apples is $1 and cars is $15,000, compute real GDP: [Fill in the blank],

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思路分析
We start by identifying what nominal GDP and real GDP measure and which prices to use. Nominal GDP uses current prices and current quantities. For apples: 500 units at $2 each contribute 500 × 2 = 1,000. For cars: 5 units at $20,......Login to view full explanation

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Part 1Suppose that in a given country from one year to the​ next, the general price level rises while the quantity of goods produced also rises. What can we determine about the values of nominal and real GDP LOADING... ​?Part 2 A. Both nominal and real GDP will​ rise, but nominal GDP will increase more. B. Nominal GDP will​ rise, but real GDP will remain unchanged. C. Nominal GDP will​ rise, but the change in real GDP cannot be determined. D. Nominal and real GDP will increase by the same amount. E. Both nominal and real GDP will​ rise, but real GDP will increase more.

Part 1Suppose that in a given country from one year to the​ next, the general price level rises while the quantity of goods produced also rises. What can we determine about the values of nominal and real GDP LOADING... ​?Part 2 A. Both nominal and real GDP will​ rise, but nominal GDP will increase more. B. Nominal GDP will​ rise, but real GDP will remain unchanged. C. Nominal and real GDP will increase by the same amount. D. Nominal GDP will​ rise, but the change in real GDP cannot be determined. E. Both nominal and real GDP will​ rise, but real GDP will increase more.

Which of following statements about Nominal and Real GDP are correct?i. If a country’s Nominal GDP increases, this country may produce more, less or even the same amount of goods and services.ii. Nominal GDP is always larger than Real GDP. iii. Nominal GDP is a widely used measure for a country’s economic performance using current prices, due to its convenience of calculation and interpretation.iv. Real GDP controls for changes in preferences and prices.

If Country A's nominal and real GDP decrease, which of the following could be true?

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