GDP per capita is GDP divided by the population growth rate. T Disposable person
ID: 1133997 • Letter: G
Question
GDP per capita is GDP divided by the population growth rate. T Disposable personal income is what you have left over after paying basic living expenses. Net Domestic Product is Gross Domestic Product minus depreciation. Real GDP is always lower than nominal GDP.P The GDP deflator is a good cost of living index. In the long run GDP tends to return to the vicinity of a long run growth path government spending is in GDP If GDP is adjusted for purchasing power, the US usually improves its relative position. The sale of primary and intermediate goods are exeluded from G Historically, a recession generally meant GDP was falling. T 4. Each part is 10 points A) nGDP is S5 trillion in Yr 1 and $5.4 trillion one year later. What is the GDP growth rate? 6.4 B) If rGDP in Yr 1 was also $5 trillion what can you say about Yr1? C) If rGDP grew 5% between Yr. 1 and Yr. 2 what did GDP prices do? (Hint: use part A. If you know GDP growth with both output and prices and now you now output by itself, what must prices have done?). 5. Determine whcther GDP will be underestimated or overestimated in each of the following (5 points each) The quality of goods is declining. Production is accompanied by significant spillover costs. The government produces valuable goods and services at a low cost. The cost of living is lower in the country than is typical in the world.Explanation / Answer
3) a) FALSE- GDP per capital is GDP divided by the population. not the population growth.
b) FALSE. ( because disposable income is the income which that is for consumption and saving after income tax is accounted )
c) TRUE.
d) TRUE. ( nominal GDP is always higher the real gdp because, nominal gdp is not adjusted for infaltion on the other hand, real gdp is adjusted for inflation and thats why the amount become less.)
e) please upload them againt to get full answers. - its against chegg policy.
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