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  • Maths Macro Midterm

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    Talha Ahmed
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    The document contains 4 questions asking to: 1) Define capital goods, inflation, intermediate goods, and gross domestic product. 2) Calculate nominal and real GDP for 2018 using production and price data from 2017 and 2018. 3) Reconstruct country B's GDP using the expenditure approach from limited available data on income, consumption, investment, government expenditure, taxes, wages, and net exports.

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    The document contains 4 questions asking to: 1) Define capital goods, inflation, intermediate goods, and gross domestic product. 2) Calculate nominal and real GDP for 2018 using production and price data from 2017 and 2018. 3) Reconstruct country B's GDP using the expenditure approach from limited available data on income, consumption, investment, government expenditure, taxes, wages, and net exports.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    14 views1 page

    Maths Macro Midterm

    Uploaded by

    Talha Ahmed
    The document contains 4 questions asking to: 1) Define capital goods, inflation, intermediate goods, and gross domestic product. 2) Calculate nominal and real GDP for 2018 using production and price data from 2017 and 2018. 3) Reconstruct country B's GDP using the expenditure approach from limited available data on income, consumption, investment, government expenditure, taxes, wages, and net exports.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    Note: Attempt all questions

    Q1. Define the following: (04 Marks)


    a) Capital goods
    b) Inflation
    c) Intermediate goods
    d) Gross Domestic Product

    Q2. From the given data, calculate the nominal GDP, real GDP (Base year=2017). (03 Marks)

    2017 2018
    Units Produced Price ($) Units Produced Price ($)
    C 75 9.0 90 9.6
    G 40 6.0 50 7.0
    X 30 5.0 25 5.5
    I 65 2.0 70 2.5

    Q4. The national accounts of Country B are maintained by Statistical bureau. A fire destroys the office
    which burned the records but following data is available. (05 Marks)

    Amount in Rs.
     GDP Income approach 290000  Investment 80000
     Consumption expenditure 200000  Government expenditure 40000
     Indirect Taxes less Subsidies 10000  Wages 20000
     Net operating Surplus 50000  Net Exports (20000)

    Calculate GDP Expenditure Approach and Depreciation


    i.

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