The following table shows UK nominal GDP for the years 1990, 1992, 2008, 2010, 2019 and 2021.

Question:

The following table shows UK nominal GDP for the years 1990, 1992, 2008, 2010, 2019 and 2021. It also shows the GDP deflator, where 2019 = 100.

1. Work out the real GDP for each year based on 2019 prices.

2. By what percentage did nominal GDP grow between 1990 and 1992; between 1992 and 2008; between 2008 and 2010; between 2010 and 2019; and between 2019 and 2021?

3. Now repeat (2) but this time for real GDP.

image text in transcribed

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Essential Economics For Business

ISBN: 9781292728940

7th Edition

Authors: John Sloman, Elizabeth Jones

See More Books

Question Posted: Mar 26, 2024 12:00 AM

See More Questions

In Figure 11.9, we show the packet path as a horizontal line, but the frame path as a diagonal line. Can you explain the reason? Figure 11.9 Sending node Receiving node Network Network Data-link...
The following table shows UK nominal GDP for the years 1979, 1981, 1990, 1992, 2008 and 2011. It also shows the GDP deflator where 2013 = 100. 1979 1981 1990 1992 2008 2011 Nominal GDP (bn) 219.559...
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
What is the smallest (most negative) 32-bit binary number that can be represented with (a) Unsigned numbers? (b) Twos complement numbers? (c) Sign/magnitude numbers?
Kroger Co. is one of the largest retail food companies in the United States as measured by total annual sales. The Kroger Co. operates supermarkets, convenience stores, and manufactures and processes...
Discuss the reasons a company would use a predetermined overhead rate rather than actual overhead to determine cost of products or services.
How might a hacker access and manipulate a digital device for illegal purposes? Are the Internet of Things (IoT) devices at risk for hacker access and manipulation?
Presented below is information related to Dickinson Company for 2012. Retained earnings balance, January 1, 2012 $ 980,000 Sales revenue 25,000,000 Cost of goods sold 16,000,000 Interest revenue...
Engineers at electronic company use special wire to manufacture fuzzy logic circuit boards. The wire comes in 1,260 foot rolls that cost $2,700 each. Each board requires 4 1/5 feet of wire. How many...
1. Continue the analysis for periods 4 and 5. 2. Continue the table for periods 13 and 14. 3. Why are multiplier/accelerator models such as these of little practical use in predicting the precise...
Referring to the figures in the table, which countries actual exchange rates would seem to understate the purchasing power of their currency?
Data for a person with type 1 diabetes are available as both MATLAB and Excel data files on the book web site. 1 Glucose measurements (y) were recorded every five minutes using a wearable sensor that...
Like the boards of most corporations, the board of directors of Paolos Pizzas, Inc. conducts business through a. annual shareholders meetings. b. consultations with corporate officers and employees....
If you were analyzing a replacement project and you suddenly learned that the old equipment could be sold for $1,000 rather than $100, would this new information make the replacement look better or...
In what ways is the setup for finding a projects cash flows similar to the projected income statements for a new single-product firm? In what ways would the two statements be different?
Explain this statement: Using financial leverage has both good and bad effects.
Why is the relevant cost of debt the interest rate on new debt, not that on already outstanding, or old, debt?
Carnot heat engine receives 650 kJ of heat from a source of unknown temperature and rejects 250 kJ of it to a sink at 24C. Determine (a) The temperature of the source and (b) The thermal efficiency...
Represent each of the following combination of units in the correct SI form using an appropriate prefix: (a) m/ms, (b) k m, (c) k s /mg, and (d) k m N.
Given Information: Bumper cars A father and son are riding bumper cars at the amusement park. The father's car is heavy (180 kg) and slow (1.0 m/s). The son's car is light (120 kg) and fast (4.5...
The small block of mass m is being pulled along the slot by the string at a con- stant speed v. The slot rotates about O at a constant rate w. The coefficient of kinetic friction between the...
Disk A may rotate about shaft AB by angle 03, while angle 0, is the rotation about the vertical axis and 02 is the rotation of shaft AB away from vertical. Starting from the position where 0,02030,...

The following table shows UK nominal GDP for the years 1990, 1992, 2008, 2010, 2019 and 2021.

Question:

1990 1992 2008 2010 2019 2021 Nominal GDP (bn) 671.44 731.79 1594.74 1612.38 2238.35 2276.72 GDP deflator (2019 = 100) 51.6 57.2 83.1 85.9 100.0 106.0

Step by Step Answer:

1 See table below 1990 1992 2008 2010 2019 2021 100 GDP deflato...View the full answer

Essential Economics For Business

Students also viewed these Business questions