经济学原理练习题 4

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1、ECO1503:PrinciplesofEconomicsFall2009ASSIGNMENT4Distributedon:Tuesday,November17,2009*DueDate:12:30pm,Thursday,November26,2009Question1.(25marks)Whichofthefollowingareincludedandwhichareexcludedincalculatingthisyear'sGDP?Explainineachinstance.(a)Amonthlyschol

2、arshipchequereceivedbyaneconomicsstudent.(b)Thepurchaseofanewcorncribbyafarmer.(c)Thepurchaseofausedtractorbyafarmer.(d)Thecashinginofasavingsbond.(e)Theservicesofamechanicinfixingtheradiatorinhisowncar.(f)CanadaPensionPlanchequesreceivedbyaretiredperson.(g)A

3、nincreaseinbusinessinventories.(h)Governmentpurchaseofmissiles.(i)Abarber'sincome.(j)Incomereceivedfrominterestonacorporatebond.(k)Cashreceivedfromsellingacorporatebond.*Penaltiesforlatesubmissions:-Upto30minutes:25%oftotalawardedmarks-Upto60minutes:50%oftota

4、lawardedmarks-Over60minutes:100%oftotalawardedmarks1Question2.(30marks)InMacrovia,theonlytwogoodsproducedarebreadandwine.In1995,breadcost90¢aloafandwinecost$4.00abottle.800loavesofbreadand180bottlesofwinewereproduced.In2000,breadcost$1.00aloafandwinecost$5.00

5、abottle.1000loavesofbreadand200bottlesofwinewereproduced.In2005,breadcost$1.20aloafandwinecost$5.50abottle.1200loavesofbreadand220bottlesofwinewereproduced.a.CalculatethenominalGDPforeachofthethreeyears.b.CalculatetherealGDPforeachofthethreeyears.Use2000asthe

6、baseyear.c.CalculatetheGDPdeflatorforeachofthethreeyears.Use2000asthebaseyear.d.Repeatb.andc.using1995asthebaseyear.e.HowmuchhasrealGDPchangedfrom1995to2005?Comparetheresultsusing1995and2000asbaseyears.ECO1503-Fall2009-Assignment42Question3.(20marks)Thefollow

7、ingdatashownominalGDPandtheappropriatepriceindexforseveralyears.ComputerealGDPforeachyearandindicatewhetheryouhave“inflated”or“deflated”nominalGDPinfindingrealGDP.AllGDPareinbillions.NominalPricelevelInflated(I)/YearGDP(Index)RealGDPDeflated(D)1$117120______2

8、124104______314385______414996______5178112______6220143______ECO1503-Fall2009-Assignment43Question4.(25marks)Supposetheaggregatedemandandaggregatesupplyschedulesforahypotheticaleconomyar