3_easy_economic_questions.[1]

3_easy_economic_questions.[1] - 5)If nominal GDP is $10,608...

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2.) Assume that gross private domestic investment is $800 billion and the government (state,local,and federal combined)is currently running a $400 billion deficit. If households and businesses are saving $1000 billion,what is the value of net exports? Use equation 2.6 to explain your answer.(T-G = (I + NX) the equation S+T= I+G+NX and changed it so that NX=S-I-(G-T) NX= 1000-800-400 NX=-200 billion
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Unformatted text preview: 5.)If nominal GDP is $10,608 and real GDP is $10,400 what is the value of the GDP deflator? the GDP deflator= nominal GDP/ real GDP=10608/10400=1.02 8.) In 2006,civilian unemployment was 144,427,000 and unemployment was 7,001,000. What was the unemployment rate? Civilian unemployment=144427000 Unemployment=7,001,000 Unemployement rate=7,001,000/(7,001,000+144427000)*100=4.6%...
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