test1 - U niversity o f T oronto M acroeconomicT heory & P...

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

View Full Document Right Arrow Icon
University of Toronto Macroeconomic Theory & Policy (EC0202Y1) Masoud Anjomshoa l:3:T:::'::li::::::::::'::y:::1':':':"i:_1:::1':::------i::l::=::=: Y::ji:g:::1':1":'t13j:::l":::l':LTi:l::1Ii::::::-:: 1- Write the completed version of following table in your booklet: (Total 10 points) Year Real GDP Nominal GDP GDP Deflator Inflation Rate Real GDP Growth Rate 2003 1200.0000 100.0000 2004 4% 5% 2005 l3 86.0000 rr0.2400 2006 1584.r54r -4% 2007 r410.3936 17 63.1635 :::::::: -:::::: 2)- (25 points) a)- Using following economy, calculate nominal and real GDP for years 1996 and 1997 in order to show how the base year method may not calculate the growth rate of real GDP for 1997 properly. (10) b)- Explain the reason for this problem. (3) c)- What is the chain weighting method solution? (2) d)- Find CPI for years 1996 and,1997, and inJlation rate for year 1997 (Base year is 1997). (10) Food Clothing Entertainment Year Price Quantity Price Quantity Price Quantify 1996 $s0 10 s1 100 s4 100
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 07/19/2011 for the course ECO 202 taught by Professor Anjomshoa during the Summer '08 term at University of Toronto- Toronto.

Page1 / 2

test1 - U niversity o f T oronto M acroeconomicT heory & P...

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