Got Homework?
Connect with other students for help. It's a free community.
Here's the question you clicked on:
 0 viewing
Naomi5404
Group Title
In 1980, the nominal value of GDP was R15400 million, while in 2000, the nominal value of GDP was R17690 million. Using 1970 as the base year (i.e GDP deflator of 1970 = 100), the GDP deflator of 1980 was 136 and the GDP deflator of 2000 was 162. Using 1970s prices, we can say that real GDP between 1980 and 2000 has:
A. Increased by approximately R2290 million
B. Increased by approximately R400 million
C. Decreased by approximately R 2300 million
D. Cannot be answered with the given information
E. Decreased by approximately R400 million
 2 years ago
 2 years ago
Naomi5404 Group Title
In 1980, the nominal value of GDP was R15400 million, while in 2000, the nominal value of GDP was R17690 million. Using 1970 as the base year (i.e GDP deflator of 1970 = 100), the GDP deflator of 1980 was 136 and the GDP deflator of 2000 was 162. Using 1970s prices, we can say that real GDP between 1980 and 2000 has: A. Increased by approximately R2290 million B. Increased by approximately R400 million C. Decreased by approximately R 2300 million D. Cannot be answered with the given information E. Decreased by approximately R400 million
 2 years ago
 2 years ago

This Question is Open

gregoryojano125 Group TitleBest ResponseYou've already chosen the best response.0
E. Decreased by appr. R400M
 2 years ago

vinrar Group TitleBest ResponseYou've already chosen the best response.0
E. Decreased by approximately R400 million real gdp of 1980 = nominal gdp / gdp deflator.=15400/1.36=11323.49 real gdp of 2000 = nominal gdp / gdp deflator.=17690/1.62=10919.749 so gdp has decreased by 403.73M hence option E
 2 years ago
See more questions >>>
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.