{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

101-2011-PS1 - Economics 101 Intermediate Macroeconomic...

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

View Full Document Right Arrow Icon
Economics 101 Marek Kapiˇ cka Intermediate Macroeconomic Theory Spring 2011 Problem Set 1 Due Monday April 11 in class Please write your name, perm number and your section on the top of your problem set. 1 Nominal GDP, Real GDP, Price Indexes Consider an economy with two goods, beer and wine. Suppose that the prices and quantities sold at times 2007 and 2008 are the following: 2007 2008 Prices Beer 10 11 Wine 20 10 Quantities Beer 8 7 Wine 3 6 1. Calculate nominal GDP for both years 2. Calculate the following measures of quantity: (a) Growth of Real GDP in 2007 prices (b) Growth of Real GDP in 2008 prices (c) Chain-Weighted Real GDP growth 3. Compute the following measures of price changes (a) GDP deflator growth based on Real GDP in 2007 prices (b) GDP deflator growth based on Real GDP in 2008 prices (b) GDP deflator growth based on Chain-Weighted Real
Image of page 1

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

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

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern