Nominal GDP and suitable price index
The following table show nominal GDP and suitable price index for a group of selected years. Calculate real GDP. Point out in each computation whether you are inflating or deflating the nominal GDP data.
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Values for real GDP, top to bottom of the column: $70.9(inflating); $50.0 (inflating); $254.4 (inflating); $ (inflating); $530.2 (inflating); $626.2 (inflating); $809.8(inflating);$1045.5(deflating).
Describe accumulated depreciation?Depreciation is the allocation of an asset's primary cost over time. Accumulated depreciation is the sum of all the depreciation cost that has been identified to date.
Nongovernmental Cost Funds: For lawful basis purposes, employed to budget and account for revenues other than common and special taxes, licenses, and fees or some other state revenues.
Service Revolving Fund: A fund employed to account for and finance most of the client services provided by the Department of General Services. The amounts expended by the fund are repaid by sales and services priced at rates adequate to keep the fund
Special Funds: For legal base budgeting purposes, funds produced by statute, or administratively per Government Code Section 13306, employed to budget and account for taxes, licenses, and fees which are restricted by law for specific activities of the
Revenue Anticipation Notes (RANs): The cash management tool usually used to remove cash flow imbalances in the General Fund in a given fiscal year. The RANs are not a budget deficit-financing tool.
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Object of Expenditure (Objects): It is a categorization of expenditures based on the kind of goods or services received. For illustration, the budget group of Personal Services comprises the objects of Salaries and Wages and Staff Benefits.
Describe Global Economic Crises during 2007-2008 ?
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