Question: a. Find the values for the most recent quarter and the same quarter one year ago for nominal Gross Domestic Product (GDP) and the GDP

a. Find the values for the most recent quarter and the same quarter one year ago for nominal Gross Domestic Product (GDP) and the GDP Implicit Price Deflator (GDPDEF)
b. Use these values to calculate real GDP for the most recent quarter and for the quarter one year ago.
c. Use the two real GDP values to calculate the real growth rate of the economy during this year.
Web site of the Federal Reserve Bank of St. Louis (FRED) (research.stlouisfed.org/fred2/).

Step by Step Solution

★★★★★

3.54 Rating (171 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a Nominal GDP in the second quarter of 2015 equaled 179020 billi... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

1347-B-A-A-M-E(896).docx

120 KBs Word File

Students Have Also Explored These Related Micro Economics Questions!

a. Find the values for the most recent quarter and the values for the same quarter one year ago for nominal Gross Domestic Product (GDP) and Real Gross Domestic Product (GDPC1). b. Use these values...

a. Find the values for the most recent quarter for these three variables: (1) Gross Private Domestic Investment (GPDI); (2) Private Nonresidential Fixed Investment (PNFI); and (3) Private Residential...

a. Find the values for the most recent quarter for Gross Domestic Product (GDP) and Gross National Product (GNP). b. Given these values, explain whether foreign production by U.S. firms exceeded U.S....

[Calculating real GDP and the real growth rate] Go to the Web site of the Federal Reserve Bank of St. Louis (FRED) (research.stlouisfed.org/fred2/). a. Find the values for the most recent quarter and...

Using data from the St. Louis Federal Reserve (FRED) (http://research.stlouisfed.org/fred2/), analyze the money supply and velocity of money. a. Find the most recent values and values from the same...

Shot in the dark. 3. Below you will find a table of a bundle of outputs and prices of goods in the US. (20 points) 2016 Output 2016 Price Bread 400 $6 per loaf Gallons of 1000 $2 per gallon Water...

Hi! Can you help me with this last problem: Real-Time Data Analysis Exercise Click the following link to view GDP data from FRED*. Then use that data to U.S. Nominal and Real GDP answer the following...

[Applying the equation of exchange] Go to the Web site of the Federal Reserve Bank of St. Louis (FRED) (research. stlouisfed.org/fred2/) and find the most recent values and values from the same...

QUESTION 1 For barter to occur there must be a double coincidence of wants for each good to be exchanged. one person who pays cash. two people willing to pay with credit. hyperinflation. 1.11 points...

Table 1 Production Possibilities Combination Soybeans(Tons) Plasma TV's A 1,000 0 B 800 100 C 600 150 D 400 175 E 200 190 F 0 200 1- Using Table 1 above, what is the opportunity cost of producing 800...

Amalgamated Holdings provided the following information in Note 1 Significant Accounting Policies in its 2013 Annual Report: (ii) Associates Associates are those entities for which the Group has...

Compare the Farabundo Mart National Liberation Front (FMLN) with the Sandinista National Liberation Front (FSLN).

Weights of airline passengers. In response to the increasing weight of airline passengers, the Federal Aviation Administration told airlines to assume that passengers average 190 pounds in the...

During the holiday season, when the publics holdings of currency increase, what open market operations typically occur? Why?

An article in the Economist discussing the 2007-2009 recession states that "employers found it difficult to reduce the cash value of the wages paid to their staff. (Foisting a pay cut on your entire...

Explain how each of the following events would affect the long-run aggregate supply curve. a. A higher price level b. An increase in the labor force c. An increase in the quantity of capital goods d....

A student was asked to draw an aggregate demand and aggregate supply graph to illustrate the effect of an increase in aggregate supply. The student drew the following graph: The student explains the...

3 Youve observed the following returns on Crash-n-Burn Computers stock over the past five years: 15 percent, 15 percent, 17 percent, 27 percent, and 10 percent. a. What was the arithmetic average...

A physical therapist wanted to know whether the mean step pulse of men was less than the mean step pulse of women. She Two sample T for Men vs Women randomly selected 56 men and 80 women to...

The Bush Oil Company is deciding whether to drill for oil on a tract of land that the company owns. The company estimates that the project would cost $8 million today. Bush estimates that once...