For 2002 Kwakian Economy Had the Following Nominal Quantities (In

question 60

Essay

For 2002 Kwakian economy had the following nominal quantities (in billions of dollars) and price indexes (1997 = 100) for each category of expenditure: $$\begin{array} { l c c } & \text { Nominal Value } & \text { Price Index } \\\hline \text { Consumption } & 423.1 & 125.1 \\\text { Fixed investment } & 112.0 & 111.0 \\\text { Government purchases } & 165.8 & 123.2 \\\text { Exports } & 180.4 & 100.9 \\\text { Imports } & 186.7 & 97.2 \\\text { Change in inventories } & - 3.28 & 111.0 \\\hline\end{array}$$ a. Calculate the real quantity for each category (to one decimal point).
b. Calculate nominal and real GDP.
c. Find the implicit price deflator (1997 = 100).

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Definitions:

Elaboration Likelihood Model

A theory in psychology that explains different ways of processing stimuli, why they are used, and their outcomes on attitude change.

Peripheral Route

A method of persuasion that relies on superficial cues, such as the attractiveness or credibility of the source, rather than the quality of the argument.

Emotional Responses

The subjective feelings and physiological reactions elicited by stimuli or events.

Classical Conditioning

The procedure of learning that is achieved when an environmental stimulus is associated with one that occurs in nature.