Homework2 Practice

Homework2 Practice - b Real GDP Q1 x P1 Q2 x P1 Q3 x P3 c...

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Sheet1 Page 1 Consumption Investment Government purchases Net exports 1a. consumption b. investment c. consumption bc purchased by household, invesstment decrease d. consumption e. government f. conumption increase, but net exports decrease bc imported g. investment 4a. Nominal GDP: Q1 x P1 Q2 x P2 Q3 x P3
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Unformatted text preview: b. Real GDP: Q1 x P1 Q2 x P1 Q3 x P3 c. GDP deflator: Nominal/Real x 100 Q1 x P1 / Q1 x P1 X 100 P2 / P1 X 100 P3 / P3 X 100 d. percentage growth of real GDP from year 2 to year 3: Q3 - Q2/ Q2 X 100 e. Inflation rate as measured by GDO deflator: P3 - P2 / P2 X 100...
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