Refer to the following table. What was the approximate output gap in 1971? Potential GDP Real GDP (billions of $) (billions of $) Year 1970 1971 1972 1973 1974 93 96 105 109 100 90 94 99 104 107
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- Real-Time Data Analysis Exercise* Consider the data below for federal budget receipts, federal budget spending, and GDP in the U.S. Calculate the federal budget surplus or deficit as a percentage of GDP for each year. (Enter your responses rounded to two decimal places and include a minus sign for a deficit.) Federal Federal Budget Receipts (billions of dollars per (billions of dollars (billions of dollars per year, Federal Surplus or Deficit Government Spending Real GDP Year year) per year) in constant 2005 dollars) as a percentage of GDP (%) 2014 3,021 3,506 17,527 2015 3,250 3,692 18.238 2016 3.268 3,853 18,745 2017 3.316 3.982 19.543 *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.Real-Time Data Analysis Exercise* Consider the data below for federal budget receipts, federal budget spending, and GDP in the U.S. Calculate the federal budget surplus or deficit as a percentage of GDP for each year. (Enter your responses rounded to two decimal places and include a minus sign for a deficit.) Federal Federal Budget Receipts (billions of dollars per(billions of dollars (billions of dollars per year, Federal Surplus or Deficit Government Spending Real GDP Year year) per year) in constant 2005 dollars) as a percentage of GDP (%) 2016 3,268 3,853 18.745 2017 3,316 3,982 19,543 2018 3,330 4.109 20,612 % 2019 3.462 4.447 21.433 *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.What is the difference between a series of economic data over time measured in nominal terms versus the same data series over time measured in real terms?
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- The seasonally adjusted data below depict the performance of the U.S. economy in four quarters of 1990-1991. Year/Quarter 1990/Q3 1990/Q4 1991/Q1 1991/Q2 Select one: OA lower than. Annual Percent Change Nominal GDP +3.7 -0.7 +2.0 +6.2 Real GDP in the United States in the first quarter of 1991 was_____ it was in the fourth quarter of 1990. OB. higher than OC. the same as Annual Percent Change Real GDP +0.3 -3.6 -1.9 +3.2Question 4Select the information you need from the following figures and calculate the nationalincome for the year shown:Government Spending R18 000Depreciation R6 000Investment spending R35 000Net foreign spending R12 000Indirect taxes R14 500Net factor payments (R4 000)Consumer spending R30 000Subsidies R4 000What is the Real GDP in 2020, according to the table below? Has the Real GDP increased or decreased compared to 2010? Year 2010 2020 Nominal Debt 1000 2500 Nominal GDP 4000 8000 Price Level/GDP Deflator 100 150 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Real GDP = $4000 in 2020 and is less than Real GDP in 2010 b Real GDP = $4000 in 2020 and is greater than Real GDP in 2010 Real GDP = $5333 in 2020 and is less than Real GDP in 2010 d Real GDP = $5333 in 2020 and is greater than Real GDP in 2010
- The Reliable Aircraft Company manufactures small, pleasure-use aircraft. Based on past experience, sales volume appears to be affected by changes in the price of the planes and by the state of the economy as measured by consumers' disposable personal income. The following data pertaining to Reliable's aircraft sales, selling prices, and consumers' personal income were collected: Year AIRCRAFT SALES AVERAGE PRICE DISPOSABLE PERSONAL INCOME 2006 525 $17,200 $610 2007 450 8,000 610 2008 400 8,000 590 Present your results in the form of a short report (maximum 1500 words) with the following elements: 1- A brief introduction to report. This should include an indication of the form of the model used, including the expected signs of the coefficients for each variable (use quality academic resources in this area, why do you think these factors affect the den 2- An analysis of each variable in the model. This should include: function). An interpretation of each estimated coefficient A…2) Below is the Table showing the annual gross electricity demand (TW.h) of Turkey versus gross do product a) Draw gross domestic product versus electricity consumption and find the equation of the line by the graphical method (be careful determining the dependent and the independent variables) b) By using the equation you have found, predict the electricity demand when GDP becomes 2500 billion S. Year 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 GDP (billion $) 800 928 1024 1120 1094 1250 1433 1532 1691 1861 1966 2040 2186 gross annual electricity consumption (TWh) 161 175 190 198 194 210 230 242 246 257 266 279 295Provide a trend analysis for income taxes ratios. What does it mean when a company's income taxes ratios increase over the years?