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Scenario | Shows up in the... | |
|---|---|---|
GDP Deflator | CPI | |
| An increase in the price of a Smooth Streets Industries pothole puncher, which is commercial construction equipment made in the U.S. but not bought by U.S. consumers | ||
| A decrease in the price of a Italian-made furniture that is popular among U.S. consumers | ||
The CPI for this year is calculated by dividing thecost of a given market basket of goods and services using this year’s prices by thecost of a given market basket of goods and services using the base year’s prices and...
Read MoreScenario | Shows up in the... | |
|---|---|---|
GDP Deflator | CPI | |
| A decrease in the price of a Rivertown Ltd. depths dredger, which is a commercial mining product used for underwater mineral extraction, made in the U.S., but not bought by U.S. consumers | ||
| An increase in the price of a Scandinavian-made coffee maker that is popular among U.S. consumers | ||
The GDP deflator for this year is calculated by dividing thevalue of all goods and services produced in the economy this year using this year’s prices by thevalue of all goods and services produced in the economy this year using the bas...
Read MoreEquivalent Salary in California=Salary in Oklahoma×RPP in OklahomaRPP in CaliforniaGiven:Salary in Oklahoma = $60,000RPP in Oklahoma = 91.3RPP in California = 111.2Substitute these values into the formula:Equivalent Salary in California=60...
Read Moreb. lenders will gain at the expense of borrowers...
Read MoreReal Interest Rate=Nominal Interest Rate−Inflation RateCalculations:a. The nominal rate of interest is 12 percent and the inflation rate is 9 percent:Real Interest Rate=12%−9%=3%\text{Real Interest Rate} = 12\% - 9\% = 3\%b. The nominal rate of interest is 15 perce...
Read Morea. The nominal rate of interest is 5 percent and the inflation rate is 1 percent....
Read MoreNominal Interest Rate=Real Interest Rate+Inflation RateGiven:Real Interest Rate = 3%Inflation Rate = 6%Substitute these values into the formula:Nominal Interest Rate=3%+6%=9%\text{Nominal Interest Rate} = 3\% + 6\% = 9\%Final Answer:c. 9 percent...
Read Moreb. The real interest rate is the nominal interest rate minus the inflation rate....
Read MoreReal Interest Rate=Nominal Interest Rate−Inflation RateGiven:Nominal Interest Rate = 4%Inflation Rate = 2%Substitute these values into the formula:Real Interest Rate=4%−2%=2%\text{Real Interest Rate} = 4\% - 2\% = 2\%Real Interest Rate=4%−2%=2%Final Answe...
Read Morea) FallenStep 1: Calculate the percentage increase in incomePercentage Increase in Income=51,000−39,00039,000×100=12,00039,000×100≈30.77%\text{Percentage Increase in Income} = \frac{51,000 - 39,000}{39,000} \times 100 = \frac{12,000}{39,000} \times 100 \approx 30.77\%Step 2: Calculate...
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