TA1_Groups_ODD

# TA1_Groups_ODD - JAN-ZB-ZOO'? 15:15 P 01/02 Carleton...

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Unformatted text preview: JAN-ZB-ZOO'? 15:15 P 01/02 Carleton University Departmsntof Economics Tutorial Assignment 1 Groups 1. 3, 5. 7, 9, 11. lusmlgtgf a 5mm] ' gnu-nteg'steoez 1. The follovéing transactions took place in Ecoland last year: use ‘ wee Wages paid to labour 800,000 Consumption expenditure 600,000 Taxes ; 7 250,000 Transfer Payments 50,000 Firms' proﬁts 200.000 Investment 250.000 Government expenditures 200,000 Exports 300,000 Saving 300,000 Imports 250,000 Calculate Ecoland's GDP. 2. Suppose that the economy is characterized by the following information, with values for real GDP in billions of dollars: What is nominal GDP for the three years? What is happening in terms of real growth in the economy? 3. Suppose that the economy is characterized-by the following information, with values for nominal GDP. in billions of dollars: " GDP deflator ‘ Nominal cor- What is the real GDP for the three years? What is'happening in terms of real growth in the economy? - . JAN-ZB-ZOO'? 15:15 P.02/02 4. All of the following refer to the economy of Zeeland > GDP in 1990 is \$1000.00 . >‘ Annual inﬂation is 5% per year from 1991-1995. From 199671999, inﬂation is 10% peryean > Real GDP grows at 2% every year. a) Calculate real GDP in every year from 1990 to 1999. b) Calculate nominal GDP in every year from 1990 to 1999. c) In a diagram, show real and nominal GDP for 1990 to 1999. 5. There are three goods in Canada: fast cars, parachute jumps and hang gliders. The quantities and prices for each in 1990 and 1991 are shown below. ' m- 1990 Prices. 1991 Prices ‘- mooo-oo sac-00°00 Parachute jumps “ \$100.00 \$80.00 Hang gliders “ \$500.00 \$300.00 Calculate the inﬂation rate from 1990 to 1991. Tu‘i‘ori oi A581 nmani=M ‘ - ' E'hn'ﬁl "’ 'I'" """_""" ' ' “' ' " "" ' ...
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## This note was uploaded on 10/11/2011 for the course ECON ECON 1000 taught by Professor Michaelfrancis during the Fall '11 term at Carleton.

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TA1_Groups_ODD - JAN-ZB-ZOO'? 15:15 P 01/02 Carleton...

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