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camdaman12

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ill start
what did you guys get for the Change in Real GDP
I got 0% but people are saying 1% wot
 

sy37

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wtf I got 14% for some reason

no idea what I did l0l

gg
 

camdaman12

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i checked it a few times and i was pretty sure it was 0%
some teacher said it was 1% but he was probably high idek tbh
 

Ekman

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I said 0%, because 1% is only true for nominal change in GDP, not real change in GDP.
 

xetamine

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AD = C+I+G+(X-M)

Yr 1 AD (GDP) = 1000
Yr 2 AD (GDP) = 1100

Nominal increase: 1.1

CPI: 1.1

Real increase: Nominal / CPI; 1.1 / 1.1

= 1

aka 0 increase (remained at 100%)

(A)
 

xetamine

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I hope you did not actually waste time doing that in your head.

You can see X=M for both years, you can totally ignore that.

Mentally add 500+200+300 = 1000, easy.

Mentally add 550+250+300, = 1100, easy. (You know the last one was 1000, there's two new 50s here).

1100 / 110 = 1

(A)

Did it in less than 15 seconds, leaving me a minute more for essays.
 

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