QUE STION 1 Refer to the following table when answering the next four questions

Question

QUE STION 1 Refer to the following table when answering the next four questions Table 2.4: U.S. and Eurozone Nominal GDP in 2017 Eurozone nominal GDP ( billions U.S. nominal GDP (S billions) Dollar/euro exchange rate PEZ/PUS 2017 13,000 $17,000 $1.15/1 0.70 Consider the data in Table 2.4. The value of Eurozone nominal GDP in U.S. dollars is a. $10,269 billion b. $15,729 billion O c. $17,525 billion O d. $11,797 billion e. $14,950 billion QUE STION 2 Refer to the following table when answering the next four questions Table 2.4 U.S. and Eurozone Nominal GDP in 2017 Eurozone nominal GDP ( billions U.S. nominal GDP (S billions) Dollar/euro exchange rate PEZ IPUS 2017 13,000 $17,000 $1.15/1 0.70 Consider the data in Table 2.4. The value of the Eurozone nominal GDP in U.S. dollars adjusted for price differences is a. $9,858 billion b. $21,357 billion O c. $10,697 billion O d. $17,525 billion e. $18,555 billion

Explanation / Answer

Eurobond GDP in $ = 13,000 * 1.15 = $14,950

OPTION E

2. Eurzone GDP with price adjustments = 14950 / 0.7 = $21357 billion (apron)

OPTION B

3. US economy is 17,000 / 21357 = 0.80 times smaller

OPTION C

4. When not adjusted for price

17,000 / 14,950 = 1.14 bigger

OPTION B

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