I cant find the formula to solve this homework problems to save my life, not in the book, not on the Internet...anywhere.
Can anyone help so I can PLEASE sleep?? Please??
GDP equals 100 billion, NDP equals 95 billion, and investment equals 33 billion. What does the depreciation equal?
I know I can find NDP= GDP-depreciation, but everytime I try to play around with the formula the investment part screws it up.
Nominal output in year 1 is $500,000 in yar 1 and 520,00 in year 2. The GDP delfator or the price index is 110 in year 2. What is the rate of change in nominal output from year 1 to year 2? Also, caluclate the real output or real GDP for year 2 assuming yes 1 as the base year.
I feel like my head is about to explode...If anybody knows these formulas Id REALLY appreciate them.
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