Given the following data for the economy of Sinlandia: (a)Nominal GDP 1985 =$165

Question

Given the following data for the economy of Sinlandia:
(a)Nominal GDP 1985 =$165b
(b)Nominal GDP 1995 =$185
(c)GDP deflator 1985 =95
(d)GDP deflator 1995=120
(e)Population 1985= 8m
(f)Population 1995 = 6m
(g)Capital Consumption Allowances 1995=$10b
(h)Savings 1985=$85b
(i)Savings 1995 =$75b
(j)Subsidies 1995=$6b
(k)Indirect taxes =$2.5b
(l)Net factor payments from abroad 1985=-$35b
(m)Net factor payments from abroad 1995=$65b

Using the data provided above, calculate the following:

e. What is the current nominal NDP in 1985 and 1995 in the economy of Sinlandia?
f. What is real per capita savings in the economy of Sinlandia for the years indicated?
g. What is the growth rate in per capita saving for 1985-1995? What is the dollar amount of net subsidies in the economy of Sinlandia?
h. How long according to the Rule of 70 would it take for the economy of Sinlandia to double its constant GNP and nominal GDP growth rate for 1985-1995?

Explanation / Answer

Current nominal NDP in 1985 = 165

current nominal NDP in 1995 = Nominal GDP - Capital consumption

= 185 - 10 = 175

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