Econ 105B
Handout/Homework 1
Econ 105B代写 A simple economy produces three commodities: beer, cheese, and popcorn.The following data shows total production for this economy in 1999 ···
1.
A simple economy produces three commodities: beer, cheese, and popcorn.The following data shows total production for this economy in 1999 and 2000:
| 1999 Quantity | 1999 Price | 2000 Quantity | 2000 Price | |
| Beer | 100 | $ 12.00 | 50 | $ 14.00 |
| Cheese | 150 | 14.00 | 75 | 18.00 |
| Popcorn | 50 | 14.00 | 25 | 18.00 |
Using 1999 as the base year, complete the following table for the economy:
|
Nominal GDP |
Real GDP |
GDP Deflator |
Inflation rate |
Growth rate of nominal GDP |
Growth rate of real GDP |
|
| 1999 | (a) | (c) | (e) | —– | —– | —– |
| 2000 | (b) | (d) | (f) | (g) | (h) | (i) |
2. Econ 105B代写
Complete the following table for a simple economy, assuming that 2000 is the baseyear:
|
Nominal GDP |
Real GDP |
GDP Deflator |
Inflation rate |
Growth rate of nominal GDP |
Growth rate of real GDP |
|
| 1999 | (a) | (b) | (d) | —– | —– | —– |
| 2000 | 1,000 | (c) | (e) | 150% | 25% | (f) |
3. Econ 105B代写
Econolandis a fictitious country. The real GDP of Econoland was measured at $20,000,000,000 in 1999 and, at that time, there were 1,000,000 people. Suppose that GDP per person is growing at 3.5% per year, in which year would you expect the per capita GDP of Econoland to reach $40,000?
4. Econ 105B代写
Assume that the real GDP per person of Econoland is approximately 25% of realGDP per person in the U.S. If the Econoland GDP per person grows at 5% and U.S. per capita grows at 3% annually, how many years will it take for Econoland to catch up with the U.S.?
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