FINAL EXAM - SDEV

Per Capita & GDP Country Classification [For your analysis, make sure to use current data: (2020 or 2021); also include the source of your data] 1. List the 10 countries with the highest GDPs in the World.2. List the 10 countries with the highest Per Capita GDPs in the World. Explain how the Per Capita GDP is calculated.3. Compare and analyze the two types of ranking (GDP and Per Capita GDP).4. What are the criticisms with the two types of ranking (GDP and Per Capita)?5. Is there a better way to classify a country other than the use of GDP and per capita? Explain6. How is a country classified by the World Bank and the United Nations (UN) (see also textbook for more information)? Explain and illustrate.7. Reflect on the globalization debate (for or against) (At least one paragraph), [see chapter 18: Globalization, textbook]

Question 15 Which of the following statements is correct regarding measuring GDP? GDP can be measured either as the total spending on domestically produced goods and services, or the total value added in domestic production, or sum of all incomes received from domestic production A B C D E GDP can be measured only as the total spending on domestically produced goods and services Information about exports but not imports is necessary to calculate GDP- Government production is not included in the GDP The value added of government production is computed using the price that public goods and services are sold at in the market

Determine if the following would be included (I) or excluded (E) from the calculation of GDP. (d)  An increase in business inventories _______ (e)  The income of a tax accountant working for a business _______ (f)  Income received from interest on a corporate bond ________ (g)  Business expenditures on pollution control equipment ______ (h)  Dr. Jung grows tomatoes in his backyard for home consumption _______

Provide a table with the nominal GDP for Belize for 2020 and 2021. Using only the nominal GDP, what do you know about (i) Changes in the level of output during this period? Explain (ii) Changes in prices during this period? Explain.  (iii) Would your answer change if you were using Real GDP? Explain. (c) Fill in the missing values in the table of data collected in the household survey. The working-age population, employment, unemployment, and labor force are measured.

24. (This is a "trick question." Think hard about it.) You have decided to live off of nature. You cut down an old dead tree and use the wood to make a small canoe for yourself. Then you fashion a fishing rod from some old wire and an old hook. You dig up worms to use as bait, and you catch two fish and cook them for your dinner. Based on all these activities, how much did GDP change? a. GDP rises by the market value of the canoe, the fishing rod, and the fish. b. GDP rises by the market value of the fish only. c. GDP does not change. d. GDP rises by the value of the canoe because it is a durable good.

Question 2 - Computation and Short Answer (a) Calculate GDP using the Income and Expenditure Approach. (all figures are in billions of dollars):Item Amount ($)Government purchase of goods and services 1,721.6Exports 1,096.3Receipts of factor income from the rest of the world 382.7Depreciation (consumption of fixed capital) 990.8Net fixed Investments 688.2Corporate income taxes 265.2Consumption expenditures 6,739.4Indirect business taxes 664.6Imports 1,475.8Payments of factor income to the rest of the world 343.7Inventory change 56.5Social security contributions 702.7Undistributed corporate profits (retained earnings) 130.3Government transfer and interest payments 1,366.3Personal interest payments 286.2Personal taxes 1,235.7

Answer (iv) and (v)

Durable Goods Business fixed investment Federal purchase of goods Exports State and local purchase of goods Residential investment Services Imports Change in business inventories Nondurable goods Table 6.1 Refer to Table 6.1 for answering the two questions below. (Enter a numeric value for your answer. Do not add zeros billions since the numbers given are already in billions.) Value for consumption expenditure (C) is $ Value for investment expenditure (1) is $ $ Billions 300 400 350 500 250 150 800 150 - 25 450 4

Sarah has a 2009 Honda Civic. In​ 2013, she sells it to Mary for​ $10,000.   Is that​ $10,000 counted in the GDP for​ 2013?(THIS IS FROM FIRST QUESTION)  HERE IS THE SECOND QUESTION   If Sarah is an automobile​ dealer, does that change your answer to the previous question at​ all?

Need help with part B

Nominal GDP for the Bahamas for 2020 and 2021 Year 2020 2021 Nominal GDP for the Bahamas ($) 11,208,600.00 9,669,500.00 Using only the nominal GDP, what do you know about (1) Changes in the level of output during this period? Explain. (ii) Changes in prices during this period? Explain. (iii) Would your answer change if you were using Real GDP? Explain.

Measuring Economic Performance (chapter 11) 3.      Using the expenditure approach, calculate GDP using the following data. Item Amount in dollars (billions) Total Consumption 9,600 Consumption of Durable Goods 1,600 Consumption of Non Durable Goods 2,800 Consumption of Services 3,200 Total Investment 3,750 Fixed Investment 1,000 Government purchases of Goods & Services 2,675 Government Transfer Payments 450 Exports 800 Imports 900 GDP Equals     (a) What is the importance of measuring per capita GDP ?  (b) How do pollution and crime affect GDP? Explain answer

Analyze how much Pakistan’s GDP and each of its components is affected by the following transactions? Explain your answers (Maximum 200 words).                      i.     Bank Al Habib issues new shares to finance the construction of an office in Sukkur, Sindh.                  ii.     Sadia spends 50000 on a computer to use in her editing business in Karachi. She got last year’s model on sale for a great price from a local manufacturer.                 iii.     You mother spend weekend cleaning your apartment and your brother pays a shopkeeper to buy a laptop in Karachi

(Japan: stages in the production and sale of a TV) Stage Components manufacture Assembly Wholesaler Retailer Price $120 $200 $400 $450 7. If Japan produces one TV, John argues Japan's GDP is equal to the sum of all prices. Briefly explain (in one or two paragraphs) why the argument is correct or incorrect. 8. How much value does the Assembly sector create? 9. If Japan produces one TV, how much is its GDP? Why? ULATE

Define GDP – that is national output. (a) Now explain each of the key elements that you have included in your definition; (b) explain why GDP provides a measurable, but deficient, way of describing the economy – in particular, what important societal features does GDP fail to measure.

1. China has a greater GDP value than Canada. Their national GDP is currently 2nd in the world. Why might Canada still be better off in terms of Standards of Living? a) All of the following are correct statements. b) Canada's spending on GDP has a greater percentage going towards health, education and social welfare programs. c) Canada's economic growth has been more environmentally friendly and has caused less damage to their environment. d) There is less extremes between those who have money and those who do not. Hence the wealth in Canada is more evenly spread out when compared to China. e) Canada has a smaller population so our GDP per capita is greater.

Question 1 The table below shows the national income data of a country with a population of 40 million. Using the information in the table below, answer the following questions. Items RM (million) Wages and salaries Export Wholesale and retail Import Public consumption 35 20 13 10 30 Subsidies and financial aid 5 Government expenditure 24 Corporate investment Net property income from abroad 40 15 Based on the data given above: a) Calculate the value of GDP using expenditure approach. b) Calculate GDP per capita? c) Differentiate Real GDP and Nominal GDP

Question 1 Use Table 1 to calculate the following (show your calculations): 1. GDE for 2015. 2. GDE for 2016. 3. GDP for 2020. 4. GDE growth for 2016 5. GDP growth for 2020 Table 1: Expenditure on GDP (constant 2010 prices, R million) Final consumption expenditure Gross capital formation Imports of goods and services Exports of Gross fixed Change in goods and services General Year Households capital Government inventories formation 2015 1853657 614957 634540 20917 909345 966025 2016 1864436 628434 612111 -9653 912546 928730 2017 1902851 629712 618516 3189 905898 937740 2018 1937396 641512 609614 -5440 929792 968651 2019 1957656 651103 603928 -9130 906445 963940 2020 1851300 654482 498530 -89797 813265 803784 Source: StatsSA (2021) Question 2 2.1 Use the 2020 information provided in the table and show the determination of the value of total expenditure and of income using the 45-degree model. 2.2 With following values, c 0,7, t 0,41 and m 0,86 use the multiplier and calculate the…

(a) The following table shows the outputs and prices of three products produced by an economy in 2018, 2019 and 2020. 2020 Quantity Price $4 $6 2018 2019 Quantity Price $6 $5 $5 Product Price Quantity Rice $5 $3 $6 500 550 600 Shirt 400 420 450 Shoes 200 250 $8 280 (i) Measure the nominal GDP, the real GDP and the GDP deflator in 2019 and 2020, taking 2018 as the base year. Using the GDP deflator, measure the inflation rate in the economy between 2018 and 2019, and also between 2019 and 2020. (ii) (b) Assume all household consumption items are locally produced as shown in the table in Question (a). A typical household in the economy consumes 5 units of rice, 4 units of shirt and 2 units of shoes in 2018. Using 2018 as the base year, measure the CPI for 2019 and 2020 and the inflation rate between 2018 and 2019, and also between 2019 and 2020. Explain why the inflation rate is different from those computed from (a)(ii). (c) "Human capital is more important than physical capital in…

Use the following composition of expenditure for the economy of a country named the Republic of Tapuwa, for the year ended 2019 to answer the questions below: Show all calculations and formulae If it is predicted that the GDP will increase to 22 000 in 2020, calculate the growth rate between 2019 and 2020.

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Need answer pleas.  correct answer only

) MULTIPLE CHOICE (identify the one best answer below and explain your reasoning for each option): The so-called‘grey’ or ‘underground’ economy production is sometimes not included in the GDP calculation because:a. Many politicians smoke marihuana and do not want us to know about it.b. Workers like avoiding taxes when paid cash-in-hand.c. The associated transactions are not recorded so no reliable data exist.d. All of the abovee. None of the above

4. Measuring GDP The following table shows data on consumption, investments, exports, imports, and government expenditures for the United States in 2020, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the table to calculate GDP using the expenditure approach. Consumption (C) Investment (I) Exports (X) Imports (M) Net Exports of Goods and Services Government Purchases (G) Gross Domestic Product (GDP) Data (Billions of dollars) 14,047.6 3,637.8 2,123.4 2,774.6 3,859.5

With reference to the table given above, calculate:  i. Gross Domestic Product at factor cost  ii. Gross National Product at factor cost  iii. National Income  iv. Personal Income  v. Disposable Income

Question 1 The formula for calculating GDP using the expenditures method is GDP = C+I+G+(X-I)

Please use trinidad and tobago