Task 1 GDP

How to determine the number of the variant.
Please, add all the digits of the full date of your birth, divide the received sum by 12.
The remainder of the division is the number of your variant. In case when the remainder of the
division is equal to 0, solve the variant № 12.
Example 1. Date of birth 25.09.2001. Let’s find the sum
2 + 5 + 0 + 9 + 2 + 0 + 0 + 1 = 19
19
12
=1
7
12
Remainder of the division is equal to 7. This is the number of the variant.
Example 2. Date of birth 01.09.2000. Let’s find the sum
0 + 1 + 0 + 9 + 2 + 0 + 0 + 0 = 12
12
12
=1
Remainder of the division is equal to 0. The number of the variant is 12.
At the beginning of your work write the number of the variant and confirm the choice of the
number by calculations as in Example 1 or 2.
From the document find your option and make tasks.
All calculations should be done on sheets A-4, carefully and in detail, by hand.
Make a photo or scan your detailed calculations, compile it into a single Word document and
upload it into MOODLE system.
Do not forget to indicate your name, number of your group and home task number in the file
name.
Good luck!
2 + 1 + 1 + 1 + 9 + 9 + 9 = 32
32
12
=2
8
12
Variant 1. Theme: Gross Domestic Product and Product Accounts
Task 1: Use the following data to work Problems a) and b)
The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire
destroys the statistics office. The accounts are now incomplete but they contain the following
data:
 GDP (expenditure approach): $2 680
 Compensation of employees: $430
 Indirect taxes less subsidies: $68
 Net interest: $470
 Gross Private Investment: $760
 Government expenditure: $370
 Rental income: $170
 Net exports: –$125
 Corporate profits: $650
 Proprietors’ income: $210
 Net Investment: $220
a) Calculate National Income and depreciation.
b) Calculate GDP (income approach) and the statistical discrepancy.
Task 2: In 1992 the Nominal GDP = $98 billion and Real GDP = $110 billion. Calculate the
GDP deflator for this economy in 1992.
Task 3: We have the following data on nominal GDP and the real GDP for 2002 and 2003:
Nominal GDP
2002
$145 billion
2003
$148 billion
Real GDP (base year
$140 billion
$136 billion
1998)
Calculate the GDP deflator for 2002 and 2003 and also calculate the annual inflation rate
in the GDP deflator.
Variant 2. Theme: Gross Domestic Product and Product Accounts
Task 1: Use the following data to work Problems a) and b)
The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire
destroys the statistics office. The accounts are now incomplete but they contain the following
data:
 GDP (expenditure approach): $2 730
 Compensation of employees: $390
 Indirect taxes less subsidies: $75
 Net interest: $510
 Gross Private Investment: $730
 Government expenditure: $310
 Rental income: $165
 Net exports: –$98
 Corporate profits: $620
 Proprietors’ income: $225
 Net Investment: $245
a) Calculate National Income and depreciation.
b) Calculate GDP (income approach) and the statistical discrepancy.
Task 2: In 2001 the Nominal GDP = $120 billion and Real GDP = $135 billion. Calculate the
GDP deflator for this economy in 2001.
Task 3: We have the following data on nominal GDP and the real GDP for 2002 and 2003:
Nominal GDP
2004
$ 132billion
2005
$ 137 billion
Real GDP (base year
$ 129 billion
$ 134 billion
1998)
Calculate the GDP deflator for 2004 and 2005 and also calculate the annual inflation rate
in the GDP deflator.
Variant 3. Theme: Gross Domestic Product and Product Accounts
Task 1: Use the following data to work Problems a) and b)
The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire
destroys the statistics office. The accounts are now incomplete but they contain the following
data:
 GDP (expenditure approach): $2 940
 Compensation of employees: $520
 Indirect taxes less subsidies: $93
 Net interest: $490
 Gross Private Investment: $810
 Government expenditure: $420
 Rental income: $205
 Net exports: –$136
 Corporate profits: $580
 Proprietors’ income: $240
 Net Investment: $370
a) Calculate National Income and depreciation.
b) Calculate GDP (income approach) and the statistical discrepancy.
Task 2: In 1997 the Nominal GDP = $146 billion and Real GDP = $125 billion. Calculate the
GDP deflator for this economy in 1997.
Task 3: We have the following data on nominal GDP and the real GDP for 2002 and 2003:
Nominal GDP
2006
$ 152 billion
2007
$ 155billion
Real GDP (base year
$ 149 billion
$ 148 billion
1998)
Calculate the GDP deflator for 2006 and 2007 and also calculate the annual inflation rate in the
GDP deflator.
Variant 4. Theme: Gross Domestic Product and Product Accounts
Task 1: Use the following data to work Problems a) and b)
The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire
destroys the statistics office. The accounts are now incomplete but they contain the following
data:
 GDP (expenditure approach): $3 420
 Compensation of employees: $610
 Indirect taxes less subsidies: $150
 Net interest: $503
 Gross Private Investment: $805
 Government expenditure: $445
 Rental income: $190
 Net exports: –$210
 Corporate profits: $700
 Proprietors’ income: $320
 Net Investment: $309
a) Calculate National Income and depreciation.
b) Calculate GDP (income approach) and the statistical discrepancy.
Task 2: In 2006 the Nominal GDP = $ 100 billion and Real GDP = $115 billion. Calculate the
GDP deflator for this economy in 2006.
Task 3: We have the following data on nominal GDP and the real GDP for 2002 and 2003:
Nominal GDP
2007
$ 126 billion
2008
$ 123 billion
Real GDP (base year
$ 121 billion
$ 119 billion
1998)
Calculate the GDP deflator for 2007 and 2008 and also calculate the annual inflation rate
in the GDP deflator.
Variant 5. Theme: Gross Domestic Product and Product Accounts
Task 1: Use the following data to work Problems a) and b)
The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire
destroys the statistics office. The accounts are now incomplete but they contain the following
data:
 GDP (expenditure approach): $2 865
 Compensation of employees: $500
 Indirect taxes less subsidies: $104
 Net interest: $420
 Gross Private Investment: $725
 Government expenditure: $390
 Rental income: $170
 Net exports: –$110
 Corporate profits: $510
 Proprietors’ income: $200
 Net Investment: $270
a) Calculate National Income and depreciation.
b) Calculate GDP (income approach) and the statistical discrepancy.
Task 2: In 1999 the Nominal GDP = $136 billion and Real GDP = $116 billion. Calculate the
GDP deflator for this economy in 1999.
Task 3: We have the following data on nominal GDP and the real GDP for 2002 and 2003:
Nominal GDP
2009
$ 118 billion
2010
$ 123 billion
Real GDP (base year
$ 106 billion
$ 105 billion
1998)
Calculate the GDP deflator for 2009 and 2010 and also calculate the annual inflation rate
in the GDP deflator.
Variant 6. Theme: Gross Domestic Product and Product Accounts
Task 1: Use the following data to work Problems a) and b)
The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire
destroys the statistics office. The accounts are now incomplete but they contain the following
data:
 GDP (expenditure approach): $2 956
 Compensation of employees: $460
 Indirect taxes less subsidies: $132
 Net interest: $455
 Gross Private Investment: $698
 Government expenditure: $368
 Rental income: $180
 Net exports: –$200
 Corporate profits: $590
 Proprietors’ income: $190
 Net Investment: $250
a) Calculate National Income and depreciation.
b) Calculate GDP (income approach) and the statistical discrepancy.
Task 2: In 2002 the Nominal GDP = $96 billion and Real GDP = $105 billion. Calculate the
GDP deflator for this economy in 2002.
Task 3: We have the following data on nominal GDP and the real GDP for 2002 and 2003:
Nominal GDP
2011
$ 164 billion
2012
$ 165 billion
Real GDP (base year
$ 159 billion
$ 156 billion
1998)
Calculate the GDP deflator for 2011 and 2012 and also calculate the annual inflation rate
in the GDP deflator.
Variant 7. Theme: Gross Domestic Product and Product Accounts
Task 1: Use the following data to work Problems a) and b)
The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire
destroys the statistics office. The accounts are now incomplete but they contain the following
data:
 GDP (expenditure approach): $2 240
 Compensation of employees: $370
 Indirect taxes less subsidies: $110
 Net interest: $475
 Gross Private Investment: $680
 Government expenditure: $400
 Rental income: $180
 Net exports: –$240
 Corporate profits: $530
 Proprietors’ income: $200
 Net Investment: $260
a) Calculate National Income and depreciation.
b) Calculate GDP (income approach) and the statistical discrepancy.
Task 2: In 1994 the Nominal GDP = $128 billion and Real GDP = $104 billion. Calculate the
GDP deflator for this economy in 1994.
Task 3: We have the following data on nominal GDP and the real GDP for 2002 and 2003:
Nominal GDP
2001
$ 134 billion
2002
$ 137 billion
Real GDP (base
$ 128 billion
$ 126 billion
year1998)
Calculate the GDP deflator for 2001 and 2002 and also calculate the annual inflation rate
in the GDP deflator.
Variant 8. Theme: Gross Domestic Product and Product Accounts
Task 1: Use the following data to work Problems a) and b)
The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire
destroys the statistics office. The accounts are now incomplete but they contain the following
data:
 GDP (expenditure approach): $3 645
 Compensation of employees: $630
 Indirect taxes less subsidies: $172
 Net interest: $410
 Gross Private Investment: $786
 Government expenditure: $510
 Rental income: $200
 Net exports: –$198
 Corporate profits: $720
 Proprietors’ income: $280
 Net Investment: $340
a) Calculate National Income and depreciation.
b) Calculate GDP (income approach) and the statistical discrepancy.
Task 2: In 2010 the Nominal GDP = $95 billion and Real GDP = $118 billion. Calculate the
GDP deflator for this economy in 2010.
Task 3: We have the following data on nominal GDP and the real GDP for 2002 and 2003:
Nominal GDP
2012
$ 142 billion
2013
$ 140 billion
Real GDP (base year
$ 138 billion
$ 137 billion
1998)
Calculate the GDP deflator for 2012 and 2013 and also calculate the annual inflation rate
in the GDP deflator.
Variant 9. Theme: Gross Domestic Product and Product Accounts
Task 1: Use the following data to work Problems a) and b)
The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire
destroys the statistics office. The accounts are now incomplete but they contain the following
data:
 GDP (expenditure approach): $2 920
 Compensation of employees: $475
 Indirect taxes less subsidies: $98
 Net interest: $420
 Gross Private Investment: $710
 Government expenditure: $490
 Rental income: $190
 Net exports: –$180
 Corporate profits: $630
 Proprietors’ income: $230
 Net Investment: $300
a) Calculate National Income and depreciation.
b) Calculate GDP (income approach) and the statistical discrepancy.
Task 2: In 1998 the Nominal GDP = $125 billion and Real GDP = $97 billion. Calculate the
GDP deflator for this economy in 1998.
Task 3: We have the following data on nominal GDP and the real GDP for 2002 and 2003:
Nominal GDP
2014
$ 157 billion
2015
$ 159 billion
Real GDP (base year
$ 152 billion
$ 154 billion
1998)
Calculate the GDP deflator for 2014 and 2015 and also calculate the annual inflation rate
in the GDP deflator.
Variant 10. Theme: Gross Domestic Product and Product Accounts
Task 1: Use the following data to work Problems a) and b)
The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire
destroys the statistics office. The accounts are now incomplete but they contain the following
data:
 GDP (expenditure approach): $2 579
 Compensation of employees: $385
 Indirect taxes less subsidies: $86
 Net interest: $460
 Gross Private Investment: $657
 Government expenditure: $340
 Rental income: $130
 Net exports: –$175
 Corporate profits: $570
 Proprietors’ income: $180
 Net Investment: $300
a) Calculate National Income and depreciation.
b) Calculate GDP (income approach) and the statistical discrepancy.
Task 2: In 2004 the Nominal GDP = $104 billion and Real GDP = $126 billion. Calculate the
GDP deflator for this economy in 2004.
Task 3: We have the following data on nominal GDP and the real GDP for 2002 and 2003:
Nominal GDP
2016
$ 107 billion
2017
$ 110 billion
Real GDP (base year
$ 105 billion
$ 108 billion
1998)
Calculate the GDP deflator for 2016 and 2017 and also calculate the annual inflation rate
in the GDP deflator.
Variant 11. Theme: Gross Domestic Product and Product Accounts
Task 1: Use the following data to work Problems a) and b)
The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire
destroys the statistics office. The accounts are now incomplete but they contain the following
data:
 GDP (expenditure approach): $2 798
 Compensation of employees: $530
 Indirect taxes less subsidies: $106
 Net interest: $380
 Gross Private Investment: $790
 Government expenditure: $520
 Rental income: $190
 Net exports: –$250
 Corporate profits: $500
 Proprietors’ income: $250
 Net Investment: $350
a) Calculate National Income and depreciation.
b) Calculate GDP (income approach) and the statistical discrepancy.
Task 2: In 2008 the Nominal GDP = $130 billion and Real GDP = $106 billion. Calculate the
GDP deflator for this economy in 2008.
Task 3: We have the following data on nominal GDP and the real GDP for 2002 and 2003:
Nominal GDP
2018
$ 161 billion
2019
$ 163 billion
Real GDP (base
$ 159 billion
$ 156 billion
year1998)
Calculate the GDP deflator for 2018 and 2019 and also calculate the annual inflation rate
in the GDP deflator.
Variant 12. Theme: Gross Domestic Product and Product Accounts
Task 1: Use the following data to work Problems a) and b)
The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire
destroys the statistics office. The accounts are now incomplete but they contain the following
data:
 GDP (expenditure approach): $2 965
 Compensation of employees: $600
 Indirect taxes less subsidies: $120
 Net interest: $520
 Gross Private Investment: $790
 Government expenditure: $420
 Rental income: $176
 Net exports: –$240
 Corporate profits: $690
 Proprietors’ income: $300
 Net Investment: $350
a) Calculate National Income and depreciation.
b) Calculate GDP (income approach) and the statistical discrepancy.
Task 2: In 2012 the Nominal GDP = $102 billion and Real GDP = $132 billion. Calculate the
GDP deflator for this economy in 2012.
Task 3: We have the following data on nominal GDP and the real GDP for 2002 and 2003:
Nominal GDP
2008
$ 117 billion
2009
$ 126 billion
Real GDP (base year
$ 104 billion
$ 110 billion
1998)
Calculate the GDP deflator for 2008 and 2009 and also calculate the annual inflation rate
in the GDP deflator.