You are employed by the state bureau of economic development. There is a demand for a leading economic index to review past economic activity and to forecast future economic trends in the state. You decide that several key factors should be included in the index: number of new businesses started during the year, number of business failures, state income tax receipts, college enrollment, and the state sales tax receipts. Here are the data for 2000 and 2018. New businesses Business failures State income tax receipts ($ millions) College student enrollment State sales tax ($ millions) 2000 1,088 627 191.7 242,119 41.6 Leading economic indicator 2018 1,162 520 162.6 290,841 39.9 Click here for the Excel Data File The weights you assign are: new businesses 15%, business failures 10%, income tax 40%, enrollment 10% and sales tax 25%. b. Compute the leading economic indicator for 2018. (Round your answer to 2 decimal places.)

You are employed by the state bureau of economic development. There is a demand for a leading economic index to review past economic activity and to forecast future economic trends in the state. You decide that several key factors should be included in the index: number of new businesses started during the year, number of business failures, state income tax receipts, college enrollment, and the state sales tax receipts. Here are the data for 2000 and 2018. New businesses Business failures State income tax receipts ($ millions) College student enrollment State sales tax ($ millions) 2000 1,088 627 191.7 242,119 41.6 Leading economic indicator 2018 1,162 520 162.6 290,841 39.9 Click here for the Excel Data File The weights you assign are: new businesses 15%, business failures 10%, income tax 40%, enrollment 10% and sales tax 25%. b. Compute the leading economic indicator for 2018. (Round your answer to 2 decimal places.)

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter15: Gross Domestic Product

Section: Chapter Questions

Problem 1SQ

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You are employed by the state bureau of economic development. There is a demand for a leading economic index to review past economic activity and to forecast future economic trends in the state. You decide that several key factors should be included in the index: number of new businesses started during the year, number of business failures, state income tax receipts, college enrollment, and the state sales tax receipts. Here are the data for 2000 and 2018. New businesses Business failures State income tax receipts ($ millions) College student enrollment State sales tax ($ millions) Click here for the Excel Data File Leading economic indicator The weights you assign are: new businesses 17%, business failures 10%, income tax 34%, enrollment 14% and sales tax 25%. b. Compute the leading economic indicator for 2018. (Round your answer to 2 decimal places.) 2000 1,125 592 196.2 242,159 46.1 Economic activity has 2018 1,059 286 178.8 291,079 66.7 c. Interpret the indexes. (Round your answer…
54 You are employed by the state bureau of economic development. There is a demand for a leading economic index to review past economic activity and to forecast future economic trends in the state. You decide that several key factors should be included in the index: number of new businesses started during the year, number of business failures, state income tax receipts, college enrollment, and the state sales tax receipts. Here are the data for 2000 and 2018. New businesses Business failures State income tax receipts ($ millions) College student enrollment State sales tax ($ millions) Click here for the Excel Data File 2000 1,0881 627 Leading economic indicator 191.7 242,119 Economic activity has 41.6 2018 1,162 520 162.6 290,841 The weights you assign are: new businesses 15%, business failures 10%, income tax 40%, enrollment 10% and sales tax 25%. 39.9 b. Compute the leading economic indicator for 2018. (Round your answer to 2 decimal places.) c. Interpret the indexes. (Round your…
Perfect Population Projections Inc. (PPP) has entered into a contract with the city of Popular, Pennsylvania, to project the future population of the city. In recent years, Popular has become a desirable place to live and work, as indicated by the below table. Year 2015 2016 2017 2018 2019 2020 Total Total Basic Nonbasic Population Employment Employment Employment 50,000 53,000 57,000 65,000 70,000 ? 25,000 26,500 28,500 32,500 35,000 ? 6,250 6,625 7,125 8,125 8,750 9,000* 18,750 19,875 21,375 24,375 26,250 ? *Estimated from surveys. Required: The contract states that PPP must project Popular's population for the year 2020 using an economic base analysis. The ratio of population to total employment is 2.0833. (Do not round intermediate calculations. Round your final answers to the nearest whole number.) Your help is needed! Total population using economic base analysis Total employment using economic base analysis Total Nonbasic employment using economic base analysis Year 2020
Refer to the table below: Year 1950 1960 1970 1980 1990 2000 2010 2020 Participation Rates (Age 16 and Older) Men 86.4 83.3 79.7 77.4 76.4 74.7 71.2 69.2 Women 33.9 37.7 43.3 51.5 57.5 60.0 58.6 57.4
Instructions: Round your responses to the nearest billion. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. a. Calculate real GDP for 2000 using 2010 prices. $ 18596.67 billion b. By how much did real GDP increase between 2010 and 2000? $ 2543.64 c. By how much did nominal GDP increase between 2010 and 2000? billion $ 4707 billion
The table below is extracted from Goodland Republic Bureau of Statistics records for 2016 -2017. Use the information to answer the questions that follow. Goodland Economy 2017 and 2018 Items Production Price per/unit ($) Production Price per/unit ($) Rice (tons) 50,000 1.5 55,000 2 Wheat (tons) 1,00,000 2 98,000 2.5 Tractors 50,000 23,000 45,000 24,500.00 mid-size (units) Cotton (tons) 1,20,000 100 1,10,000 120 Used cars (units) 5,000 5,000 6,000 7,000 Manufacturing Garments (tons) 1,50,000 50 1,45,000 70 Eggs (trays) 2,000 2.5 2,300 3.5 Coca Cola (litres) 6,000 0.8 6,500 1.2 Pepsi Cola (litres) 700 1.1 850 1.5 Beef (tons) 5,000 6.5 4,800 8.5 Second hand clothes (tons) 500 15 450 25 Alcoholic Beverages (litres) 500 3.25 600 3.75 Milk (litres) 7000 2.3 7,500 2.5 Examine the status of the economic welfare in Goodland Republic in 2018 based on your GDP deflator, nominal GDP and Real GDP. Also, explain the reasons why it is necessary to calculate real GDP.…
Perfect Population Projections Incorporated (PPP) has entered into a contract with the city of Popular, Pennsylvania, to project the future population of the city. In recent years, Popular has become a desirable place to live and work, as indicated by the below table. Year 2019 2020 2021 2022 2023 2024 Total Population 50,000 53,000 57,000 65,000 70,000 ? Total Employment 25,000 26,500 28,500 32,500 35,000 ? Basic Employment 6,250 6,625 7,125 8,125 8,750 9,000* Nonbasic Employment 18,750 19,875 21,375 24,375 26, 250 ? *Estimated from surveys. Required: The contract states that PPP must project Popular's population for the year 2024 using an economic base analysis. The ratio of population to total employment is 2.0833. Note: Do not round intermediate calculations. Round your final answers to the nearest whole number. Your help is needed! Total population using economic base analysis Total employment using economic base analysis Total Nonbasic employment using economic base analysis Year…
Question 4 Year 1970 1971 1972 1973 Nominal GDP 932 1,117 1,469 1,758 Price Index 82 104 109 122 Refer to the above data. From year 1971 to 1973, prices changed by percent. (e.g. If your answer is -5.70%, write -5.70) Your Answer:
What is the importance in macroeconomics of measuring per capita GDP? Provide examples and explain your answer. Requirements: Each response must be 250 to 300 words. When using reference material, you must properly cite the sources using in-text citations with the APA style. You must also include a reference list.
Study Problem 4-4 (algo) The data for three countries (all with the same base year, with figures converted to Canadian dollars) are shown in the table below. Calculate the real GDPS per capita for each country and rank them in size by filling out the table on the right. Give your answers to the nearest dollar Altria Bergan Casper Population (in Millions) 50 130 275 Nominal GDP ($ Billions) 750 3,000 3,600 Price Index 2009 = 100 110 120 155 Rank 1. 2. Country (Click to select) (Click to select) (Click to select) Real GDP per capita $ $ $
A small city has the following characteristics: Population (15+): 440000 Labour Force Participation Rate: 69% Unemployment Rate: 7% How many people are unemployed in this city? (Nearest whole number.)
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