Im confused.
My art teacher called me and said they got a letter that my work is being held back to be considered for express.. does this mean im just being considered or nominated??
ahah sorry! the formula i've been using is so embedded in my mind that i can't believe it wasn't right. i still hope it is, and the answer is C, but it doesn't look like it.
Also did anyone have troubles with the Multiplier question (Number 18), i'm usually fine at multiplier questions but...
Hrm if the answer is B, i think that means the GDP increased for question 12 in the paper, meaning i got it wrong.
Today i used CPI previous year over CPI current year... but in order to get answer B for the 2006 paper looks like its the opposite way around, (CPI current year over CPI...
You would use the nominal rate of economic growth formula if it asked for the nominal rate of economic growth, but it asked for REAL GDP which means you need to adjust it for inflation.
I dont understand why you are using the base year of 100 to figure out the Real GDP. as setonusyd said, since were asked to find out the real gdp from year 1 - 2, not before that. I've been using the method above all year to calculate similar questions and have always seemed to get them correct...
For all of you that are wondering what question 12 was:
Year/Nominal GDP/CPI/HDI
1/6000/130/0.61
2/6800/150/0.76
According to the data, which statement is correct for this economy?
a) Real GDP has increased and the quality of life has improved
b) Real GDP has increased and the...
sweet jesus that exam was lovely. i answered:
the pacific: atom bomb
personalities: leni riefenstahl
germany: weimar/rise of the nazi party
i miscalculated my time on germany though, and also forgot the names of some historians and resorted to making them up.. i hope the markers don't notice?