ss02 - University of Toronto Economics Department...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
University of Toronto Macroeconomics, Theory and policy Masoud Anjomshoa Economics Department Solution set #2 Disclaimer: The following answers are only suggested solutions, and may NOT include a complete solution for the questions and problems in your homework, as you must present in your assignments and/or exams. In your solutions you must show your work, and demonstrate your line of thinking clearly. Please, always check my calculations for unintentional typos or miscalculations. --------------------------------------------------------------------------------------------------------------------------------- 6- Growth Rate of the Year 1992 Base 1993 Base 1994 Base 1995 Base 1996 Base Chain Method 1992-93 6.0 % 5.7 % 5.3 % 5.1 % 4.9 % 5.8 % 1995-96 4.7 % 4.4 % 4.1 % 4.0 % 3.8 % 3.9 % ----------------------------------------------------------------------------------------------------------------------------------- 7- Real GDP Nominal GDP GDP Deflator 2234 2687 120 3260 3912 120 2228 1983 89 4500 4589 102 9564 9564 100 3413 4607 135 ----------------------------------------------------------------------------------------------------------------------------------- 8- (i) and (iii) Value-Added Approach Expenditure Approach Sector Value-Added Value of Input Value of Output Consumption Investment Net Exports Steel 10 0 10 0 2 0 Automobile 10 15 25 15+4=19 0 10-4-5=1 Construction 1 1 2 0 0 0 Services 6 0 6 5 0 0 Total 27 16 43 24 2 1 Value-Added Approach: GDP = 27 Expenditure Approach:
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/10/2010 for the course ECO ECO202 taught by Professor Masoudanjamshoa during the Spring '10 term at University of Toronto- Toronto.

Page1 / 3

ss02 - University of Toronto Economics Department...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online