GDP is considered to be the broadest indicator of a country's economic activity and the task of measuring GDP usually falls on national statistics agencies.In the U.S., the Bureau of Economic Analysis (BEA), part of the U.S. Department of Commerce, is tasked with producing official GDP data and it reports that data on a quarterly basis (although the GDP estimates go through a couple of revisions -- the third estimate is considered final).For more than you'll probably ever want to know about GDP and the seven NIPA accounts, you can have a look at this 25-page You may have heard economists or journalists refer to "real GDP." If the present capital stock is equal to 25:The supply curve for savings is _____ because as the _____ rate rises, the quantity of savings will also rise._____ in the market for loan-able funds determines the equilibrium interest rate.The _____ the interest rate, the smaller the quantity of funds demanded for _____.Which event would cause the equilibrium quantity of savings to decrease?Suppose two assets are equally risky but have different prices. If 2.9 percent and 1.3 percent of GDP growth are due, respectively, to capital and labor growth, …
If the present capital stock is equal to 25, new investment in capital will be equal to:Suppose the production function for an economy is Y = √K, and that γ = 0.25 and δ = 0.05. The variable A represents ideas, the variable K represents physical capital, and the variables eL represent skill-adjusted labor.The marginal _____ of capital is the increase in output caused by the addition of one more unit of capital.A reliable way to achieve faster growth in real GDP per capita is to increase:the growth rate of human capital. Good instinct: Logically, corresponding quarters don't require seasonal adjustments and that's one of the advantages of a second method for calculating the annual growth rate in GDP.Yes. The real GDP growth per capita must be equal to:−0.3 percent.
(real GDP growth rate - growth rate of the population = real GDP growth per capita).If GDP for a certain economy is $1,510 billion at the end of year 1 and it grows by 6 percent, what will be the GDP at the end of year 2?Net exports are the value of exports minus the value of _____.Suppose your weekly earnings (the number on your paychecks) decrease by 2 percent over the course of a year and prices in the economy fall by 3 percent. Even if they don't, you've now got all the tools necessary to calculate them on your own using GDP figures. See you at the top! (Patents exist to help those who bear the costs of development receive more of the benefits.
As such, it's worth knowing what the headline statistic -- the annual growth rate in real GDP -- represents.
Stripping out the effect of inflation from current dollar GDP estimates to produce real (or "chained dollar") estimates gets us closer to that goal.One quarter's GDP figures in isolation are not that useful.
If the present capital stock is equal to 25, the current level of output is:Suppose the production function for an economy is Y = √K, and that γ = 0.25 and δ = 0.05. Next suppose that the growth of real GDP per capita falls to zero percent in the leader country and rises to 7 percent in the follower country. The real GDP per capita of China is $4000, and its annual growth rate is 7 percent.
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suppose that the growth rate of real gdp per capita is 6 percent per year