1. Choose true or false for each question. 1-1. Real estate means only buildings built on land. 1-2. The most important determinant of housing value is its building material. 1-3. Because a real estate is a durable good, the value of the property is deprediated and completely worn out at last.. 1-4. A real estate is a kind of consumption good. 1-5. A real estate market is purely an asset market, as the household's expenditure on real estates is very flexible.

1. Choose true or false for each question. 1-1. Real estate means only buildings built on land. 1-2. The most important determinant of housing value is its building material. 1-3. Because a real estate is a durable good, the value of the property is deprediated and completely worn out at last.. 1-4. A real estate is a kind of consumption good. 1-5. A real estate market is purely an asset market, as the household's expenditure on real estates is very flexible.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Production And Growth

Section: Chapter Questions

Problem 5CQQ

See similar textbooks

Similar questions

(1) Recent measurements have shown a significant deterioration in the quality of the Scottish seaside. Which of the following statements are compatible with this observation? A. The real value of GDP has increasedB. The real value of GDP remains the same C. North Sea oil wells have dried upD. The price of swimming costumes has gone down (2) The impact of Covid-19 on happiness is negative because A. it decreased economic activityB. it coincided with BrexitC. it forced social isolationD. it obliged people to develop new Information Technology skills(i) A is correct(ii) A and B are correct(iii) A and C are correct(iv) All of the above are correct
2.Distinguish the final goods or services, intermediate goods or services, and capital goods?
4. Do you think that incomes and purchasing power are related? Are companies required to pay their employees more to compensate for higher costs of living?
Suppose U.S. drivers purchased $50 billion of ExxonMobil-produced gasoline during a recent year, with one-half purchased directly from ExxonMobil-owned gas stations and one-half from independent (or third-party) gas stations. Suppose further that ExxonMobil purchased the oil (which it refined into gasoline) from foreign producers for $20billion and that it receives 60 percent of the sales revenue that independent stations generate from selling ExxonMobil gasoline. In this case, the value added by ExxonMobil to U.S. GDP is $__billion.
29. Suppose that household consumption is $1,000, investment is $600, government spending is $300, exports are $200 and imports are $230. Nominal GDP then would be Group of answer choices a) $1,930. b) $2,330. c) $1,970. d) $1,730. e) $1,870.
Discuss wether all firms in a country will welcome a change in people’s income.
What is the primary way which economists measure standards of living?
4) a. There is a trade-off between the amount of consumption that people can enjoy today and the amount of consumption that they can enjoy in the future because to increase consumption in the future households must save, thus providing funds for investment. consumers do not like to save. consumers like to both save and spend. producers always respond to what consumers want. b. Typically a higher saving rate is associated with higher investment rates and lower rates of growth. lower investment rates and higher rates of growth. higher investment rates and higher rates of growth. lower investment rates and lower rates of growth. c. Banks and other financial institutions eliminate poor business decisions. reduce the risk of borrowing. focus on long-term projects. help allocate resources to the most productive investments.
1. If the sales tax increases to 12%, what percentage of our Archie's income will jeff now pay in text on his $150 bill? Show your work. 2. Will he make adjustments to his purchases and if yes, how will he adjust? If no, why not? 3. If the sales tax increases to 12%, what percentage of Jeff's income will Archie pay in tax on his $150 bill? Show your work.
5. You are given the following information about an economy: $millions GDP at Market Prices 1,,669.4 Imports 290.5 Gross Domestic Capital Formation 48.7 Income accruing to the Public Sector 39.0 Retained Business Earnings 75.9 Exports 273.4 Subsidies 16.8 Factor Payments from Abroad 10.0…
2 / If there is an increase in savings in an economy and a decrease in national income, what is the reason? Explain by drawing a figure.
Question 1a) Give the definition of GDP and explain what items are not included in its calculation?b) How is GDP calculated using the expenditure approach?c) How is GDP calculated using the income approach?d) Research the concept of measuring GDP using the value added approach and provide aworking definition?e) Explain the problem of "double-counting" and how it can be avoided in calculating GDP.