Economics in a Global Environmet

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Miscellaneous

 

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Brett M

 

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May 7, 2016

 

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University

 

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A

 

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2 / 426

 

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Calculate the value of the price index for GDP for 2006 using 2005 as the base year [(90 X 20) + (180 X 110)] / [(90 X 18) + (180 X 100)] X 100 [1,800 + 19,800 = 21,600] / [1,620 + 18,000 = 19,620] 21,600 / 19,620 = 1.10 X 100 = 110.09 2. By what percent did the price increase = 1.10% Question Three 1...
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Calculate the real GDP for 2005 and 2006 using 2006 prices 2005: (90 X 20) + (180 X 110) = 1,800 + 19,800 = 21,600 2006: (100 X 20) + (190 X 110) = 2,000 + 20,900 = 22,900 2. By what percent did real GDP grow 22,900 ? 21,600 = 1,300 / 21,600 X 100 = 6.01% Question Four Using the Bureau of Economic Analysis website table 1...
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