1- In a country, if the consumption is OMR 14000, exports OMR 5300, government purchases are OMR1500, imports are 3400, and investment is OMR 2800, What is the GDP for that year? ____________ Select one: a. OMR 22000 b. OMR 20002 c. OMR 20200 d. OMR 20020   2- Suppose that in a closed economy GDP is equal to 11,000, taxes are equal to 2,500 consumption equals 7,500 and government purchases equal 2,000 the outcome is private saving, public saving, and national saving is 1,000, 500, and 1,500, respectively. Select one: a. False b. True

Q: How to calculate GDP by spending method in a closed economy?  A) C+I+G  B) C+I+G+NX  C) C+G…

A: A closed economy refers to the one that do not make trade activities with the other nations in the…

Q: Suppose GDP is $12 trillion, taxes are $3.6 trillion, private saving is $1.5 trillion, and public…

A: GDP can be found out by the sum of these three components: Where, C is the consumption I is the…

Q: a. Fill in the missing numbers (gray-shaded cells) in the table. Instructions: In the table, enter…

A: The consumption expenditure depends on the level of income.  The sum of average propensity to…

Q: Suppose in the economy of Richlandia the GDP in 2021 was $ 150 billion.  Also, assume that gross…

A: Given: GDP=$ 150 billion Gross investments =$ 40 billion Personal consumption expenditure = $ 80…

Q: Assume that a grower of flower bulbs sells its annual output of bulbs to an Internet retailer for…

A: Grower's income = $70,000 Retailer income = $140,000 - $70,000 Retailer income = $70,000 Personal…

Q: 1. - ., Calculate the values for government purchases (G), private domestic saving (S), and private…

A: We know that, G+TR-TX = Budget Deficit (BD) 1. C+S = YD, as Disposable Income (YD) is either…

Q: 2. Saving and investment in the national income accounts The following table contains data for a…

A: GDP represents the total aggregation of all national account, it means it is an aggregation of…

Q: (M: 10,000 Government Spending (G): 1,500 Desired Consumption (C): 8,500 If the goods market is in…

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Q: are $1800 million, gross investment is $450 million, imports are $350 million, exports are $180…

A: Given : Consumption expenditures =$1800 million, Gross investment =$450 million, Imports =$350…

Q: 4. Suppose you buy your uncle's childhood house for $300, 000 and rent it out to a friend for a…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: 1. Give three reasons why GDP is the most widely used measurement in determining economic growth and…

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Q: Hi please assist with this 1.3 questions 1.3-1.5. South Africa’s economy grew by 1.1% in the first…

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Q: 1- The four expenditure categories of GDP consist on consumption, government purchases, investment,…

A: We are going to define the definitions of Gross Domestic product to answer this question.

Q: Question One The data below is for the small economy of Christodea in 2015. Consumption: C = 500 +…

A: Hello. Since you have posted multiple parts of the question and not specified which part of the…

Q: 7. A Toronto gun shop purchases a set of new Henry and Winchester rifles from the United States for…

A: GDP refers to the final value of goods and services produced in an economy during a year. It is…

Q: Suppose GDP-11 billion, taxes-3 billion, private saving-0.9 billion, and public saving-0.6 billion:…

A: Consumptiin spending=GDP-taxes =11-3=8

Q: Given the following on a closed economy. C = 40 + 0.8Yd I= 55 – 200, C= consumption I= Investment G…

A:

Q: Calculate the equilibrium real GDP for the economy   2. What is the level of consumption at the…

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Q: 2. As an economic and accounting analyst, which of the two should a government pay more attention…

A: Economic growth is basically described as the boom or improvement inside the inflation-adjusted…

Q: Q1. Consider the following data on hypothetical economy. GDP Gross Investment Net Investment…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: Calculate the GDP under Expenditure approach, if Consumption is 2.9 billion, Investment is 1.3…

A: Gross Domestic Product(GDP) refers to the value of final goods and services produced in an economy…

Q: Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in…

A: A variety of measures of national income and output are used in economics to estimate total economic…

Q: Why is falling GDP or negative GDP growth generally seen as a bad sign?

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: The following are a year's data for a hypothetical economy. Comsmption $400B, Government purchases…

A: a) Value of GDP: GDP = C+I+G+(X-M)GDP = $400+$150+$350+($150-$100)GDP = $950B Value of NDP: NDP =…

Q: If in some country personal consumption expenditures in a specific year are $50 billion, purchases…

A: The gross domestic product shows the value of all final goods and services which is produced in the…

Q: The following table provides data for output (real GDP) and saving. a. Fill in the missing numbers…

A: here we calculate the value of MPS and APS by given following information as follow-

Q: National Income Account (Millions of dollars) Government Purchases (G) 350 Taxes minus Transfer…

A: Given, GDP = $1,680 million Government purchase (G) = 350 million Taxes minus transfer payment = 420…

Q: . Investment is a determining factor of GDP.  A decrease in the supply of available funds (i.e. a…

A: Gross domestic product is the value of all final goods and services produced in an economy over a…

Q: The aggregate expenditure for a simple economy in 2016 was $9 million. The table below shows…

A: Given: Aggregate expenditure in 2016=$9 million

Q: DP in an economy is $4,600 billion. Consumer  expenditures are $3,500 billion, government purchases…

A: GDP = Consumption + Government spending + Gross investment + Net exports 4600 = 3500 + 900 + 400 +…

Q: Use the  following  information  to  answer  this  question. If  nominal  GDP  rises  from  $100…

A: Here, it is given that the nominal GDP changes from $100 trillion to $120 trillion, which implies…

Q: In an imaginary economy, if the disposable income is 200 and the consumption expenditure is 220,…

A: Disposable income refers to income which is  left over after paying off personal taxes.  Disposable…

Q: Suppose that in a closed economy GDP is $50,000, consumption is $35,000, taxes are 10,000 and…

A: The Gross Domestic Product (GDP) measures the market value of all the final goods and services…

Q: Q.1.5 In the base year, a country produced 50 units of output at a price of R6,00 eac for a nominal…

A: The ultimate financial value of merchandise and services generated inside a domestic country over a…

Q: Suppose that a country grows at an annual rate of G = 2%, imagine that at time "t" the country has…

A: Given Growth rate = 2 % Time = 10 years Income level after 10 years =Yt * (1 + growth rate)^time =…

Q: Suppose that in a closed economy GDP is $50,000, consumption is $35,000, taxes are 10,000 and…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: Assume the following information for an imaginary, closed economy. GDP = $120,000; consumption =…

A: The Gross Domestic Product of the country can be estimated by adding up the consumption,…

Q: Refer to the table given. Assume that this economy produces only two goods Good X and Good Y. The…

A: We know that the nominal GDP is the value of all final goods and services produced inside the…

Q: a. Explain concisely whether the following statement is true or false: “The GDP of a country does…

A: Note- Since you have posted multiple independent questions in the same request, we will solve the…

Q: Which definition best describes real GDP? a)the production of goods and services valued at current…

A: The Gross Domestic Product is the summation of the money value of all the final goods and services…