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Ilya [14]
3 years ago
15

The following table shows data for nominal GDP and the GDP deflator (2010 = 100) in 2013 and 2014 for six major industrial count

ries.
Complete the table by calculating the 2013 and 2014 real GDP of each country measured in 2010 prices. Then calculate the inflation rate between 2013 and 2014 for each country.
I. Nominal GDP(Billions of Local Currency Units)
Country
1. United States
2. Canada
3. Japan
4. Italy
5. Australia
6. United Kingdom
2013
1. 16,663.20
2. 1,879.5
3. 482,430.0
4. 1,609.5
5. 1,554.8
6. 1,713.1
2014
1. 17,348.1
2. 1,976.2
3. 489,623.0
4. 1,616.3
5. 1,599.8
6. 1,791.5
II. Country GDP Deflator (2010 = 100)
Country
1. United States
2. Canada
3. Japan
4. Italy
5. Australia
6. United Kingdom
2013
1. 105.6
2. 108.1
3. 97.2
4. 103.9
5. 105.5
6. 104.3
2014
1. 107.4
2. 110.9
3. 98.8
4. 105.0
5. 105.8
6. 106.0

Real GDP Real GDP
(In 2010 currency units)
2013 2014 Inflation Rate
Which country had the highest growth rate of real GDP? Japan Canada Italy Australia Grade It Now Save & Continue Continue without saving
Business
1 answer:
dolphi86 [110]3 years ago
5 0

1. United States : 2013 real GDP 15,779.54, 2014 : 16,152.7

2. Canada : 2013 real GDP 1,738.66, 2014 : 1,781.96

3. Japan : 2013 real GDP 464,321.4, 2014 : 495,576.9

4. Italy: 2013 real GDP 1,549.08, 2014 : 1,539.33

5. Australia : 2013 real GDP : 1,473.74, 2014: 1,512.09

6. United Kingdom : 2013 real GDP : 1,642.37, 2014: 1,690.09

Inflation rate:

1. United States: 1.7%

2. Canada: 2.6%

3. Japan: 1.6%

4. italy: 1.0%

5. Australia: 0.28 %

6. United Kingdom: 1.62 %

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The following selected account balances are taken from the records of Cooper Corporation for the past two years.
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Answer:

Cooper Corporation

1. Cash received from the sale of equipment:

= d. 70

2. Decrease in cash from investing activities:

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3. Increase in cash from financing activities:

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Explanation:

a) Data and Calculations:

December 31

                                              2018      2017   Change

Equipment                           $750      $400    +$350

Accumulated depreciation   (160)      (225)       +65

Land                                        92           50        +42

Bonds payable                       30           50         -20

Common stock                     120         100         +20

Additional paid in capital     400        320         +80

Retained earnings               825        675       +150

Net income for the year = $200

Depreciation expense = $70

Less Gain from sale of equipment $5

Equipment

Account Titles         Debt     Credit

Beginning balance  $400

Cash purchase          550

Sale of equipment                $200

Ending balance                       750

Sale of equipment

Equipment       $200

Accumulated depreciation   $135

Cash                                          70

Gain from sale      5

Retained earnings:

Beginning balance              $675

Net income                            200

Dividends                    50

Ending balance         825

Statement of Cash Flows (partial):

Investing activities:

Sale of equipment           $70

Purchase of equipment -550

Purchase of land              -42

Decrease in cash         $522

Financing activities:

Bonds payable                        -20

Common stock                       +20

Additional paid in capital        +80

Dividends paid                        -50

Increase in cash                    $30

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