Compute nominal GDP in 2010, 2011, and 2012. [Show your computation work] b. (3 points) Compute...

  

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Compute nominal GDP in 2010, 2011, and 2012. [Show your computation work] b. (3 points) Compute real GDP in 2010, 2011, and 2012 (base year method). [Show your computation work] c. (2 points) Compute GDP deflator in 2010, 2011, and 2012. [Show your computation work] d. (2 points) Compute growth rates of nominal GDP and real GDP from 2010 to 2011 and from 2011 to 2012. [Show your computation work] Question 2. Inflation [7 Points in Total] a. (3 points) Compute cost of CPI basket in 2010, 2011, and 2012. [Show your computation work] b. (2 points) Compute CPI in 2010, 2011, and 2012. [Show your computation work] c. (2 point) Compute inflation rates (based on CPI) from 2010 to 2011 and from 2011 to 2012. [Show your computation work] Question 3. Business Cycle [3 Points in Total] a. (2 points) Based on your answers on Question 1 and 2 above, did Aggieland experience an expansion or a recession from 2010 to 2011? How about from 2011 to 2012? Was it at peak or trough or neither in year 2011? b. (1 point) From 2010 to 2011, did Aggieland experience an inflation or deflation? How about from 2011 to 2012? Chips Dips Sodas Year 2010 Price $4 $5 $3 Quantity 100 50 50 Year 2011 Price $4 $4 $5 Quantity 110 40 60 Year 2012 Price $5 $3 $5 Quantity 80 50 70 Use the following hypothetical data in TABLE 7 to calculate GNP. Note: Exports are negative 267, that is, there is a minus sign before 267. Enter your answer as a number only. That is, don't put any comma or period signs. TABLE 7 Billions of dollars Net Exports Dividends Capital Consumption Allowance Government expenditures Rents Value of Intermediate goods Indirect business taxes Wages Corporate income taxes Interest Proprietor's income Personal Consumption expenditure Undistributed corporate profits Gross private domestic investment NFFI -267 50 203 377 260 300 155 900 95 160 132 1600 85 330 0 Compute nominal GDP in 2010, 2011, and 2012. [Show your computation work] b. (3 points) Compute real GDP in 2010, 2011, and 2012 (base year method). [Show your computation work] c. (2 points) Compute GDP deflator in 2010, 2011, and 2012. [Show your computation work] d. (2 points) Compute growth rates of nominal GDP and real GDP from 2010 to 2011 and from 2011 to 2012. [Show your computation work] Question 2. Inflation [7 Points in Total] a. (3 points) Compute cost of CPI basket in 2010, 2011, and 2012. [Show your computation work] b. (2 points) Compute CPI in 2010, 2011, and 2012. [Show your computation work] c. (2 point) Compute inflation rates (based on CPI) from 2010 to 2011 and from 2011 to 2012. [Show your computation work] Question 3. Business Cycle [3 Points in Total] a. (2 points) Based on your answers on Question 1 and 2 above, did Aggieland experience an expansion or a recession from 2010 to 2011? How about from 2011 to 2012? Was it at peak or trough or neither in year 2011? b. (1 point) From 2010 to 2011, did Aggieland experience an inflation or deflation? How about from 2011 to 2012? Chips Dips Sodas Year 2010 Price $4 $5 $3 Quantity 100 50 50 Year 2011 Price $4 $4 $5 Quantity 110 40 60 Year 2012 Price $5 $3 $5 Quantity 80 50 70 Use the following hypothetical data in TABLE 7 to calculate GNP. Note: Exports are negative 267, that is, there is a minus sign before 267. Enter your answer as a number only. That is, don't put any comma or period signs. TABLE 7 Billions of dollars Net Exports Dividends Capital Consumption Allowance Government expenditures Rents Value of Intermediate goods Indirect business taxes Wages Corporate income taxes Interest Proprietor's income Personal Consumption expenditure Undistributed corporate profits Gross private domestic investment NFFI -267 50 203 377 260 300 155 900 95 160 132 1600 85 330 0

Answer rating: 100% (QA)

Based on the images provided there are several calculations we can complete for the Aggieland economy Before beginning its essential to understand the following definitions Nominal GDP The market valu... View the full answer