Here is some data for the country of Krugman: Year 1980 2020 Real GDP $100 Billion...
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Here is some data for the country of Krugman: Year 1980 2020 Real GDP $100 Billion $200 Billion Answer: Nominal GDP $100 Billion $1000 Billion How many times higher are prices in 2020 than it was in 1980? Please write your answer as a number. If you think prices were seventeen times higher, write 17, not seventeen. Here is some data for the economies of Richland and Poorland: Year GDP per Capita, GDP per Capita, PPP Market Exchange Rates $60,000 $1,000 Richland Poorland $60,000 $10,000 How many times higher are prices in Richland? Write your answer as a number. If you think Richland's prices are twenty-three times wealthier, write 23, not twenty-three. Answer: If prices are rising, what will happen if we use nominal GDP to measure the change in production over time? O a. It will look like the economy is growing more than it actually is growing It will look like the economy is growing less than it actually is growing O b. O c. All of these are true O d. None of these are true O e. In this case, we would measure economic growth exactly right Here is some data for the country of Krugman: Year 1980 2020 Real GDP $100 Billion $200 Billion Answer: Nominal GDP $100 Billion $1000 Billion How many times higher are prices in 2020 than it was in 1980? Please write your answer as a number. If you think prices were seventeen times higher, write 17, not seventeen. Here is some data for the economies of Richland and Poorland: Year GDP per Capita, GDP per Capita, PPP Market Exchange Rates $60,000 $1,000 Richland Poorland $60,000 $10,000 How many times higher are prices in Richland? Write your answer as a number. If you think Richland's prices are twenty-three times wealthier, write 23, not twenty-three. Answer: If prices are rising, what will happen if we use nominal GDP to measure the change in production over time? O a. It will look like the economy is growing more than it actually is growing It will look like the economy is growing less than it actually is growing O b. O c. All of these are true O d. None of these are true O e. In this case, we would measure economic growth exactly right
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Cost Management Accounting and Control
ISBN: 978-0324559675
6th Edition
Authors: Don R. Hansen, Maryanne M. Mowen, Liming Guan
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