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- 2. Exports, imports, and Net exportsHelp me please1. Transfer payments are: A) payments made to firms for investment. B) payments that do not require a good or service in exchange. C) considered a part of government purchases. D) an important component of GDP because they increase consumption spending. 2. A country's exports minus its imports measures: A) net exports. B) gross exports. C) net imports. D) gross imports. 3. A trade deficit occurs when: A) foreign remittances paid are less than foreign remittances received. B) exports are less than imports. C) exports equal imports. D) exports are greater than imports.
- Price (Php/kg) 20 25 Quantity Supplied (qs) of Palay in Luzon (in billion kg) 11 12 Quantity Supplied (qs) of Palay in Visayas (in billion kg) 4. Compute and interpret from PhP 20 to PhP 25. 3.0 3.5 Quantity Supplied (qs) of Palay in Mindanao (in billion kg) 4.0 4.5 Quantity Supplied (qs) of Palay in the Philippines (in billion kg) 1. In one figure, graph the supply curve in Luzon (sL), Visayas (SV), Mindanao (SM) and the market supply curve in the Philippines (SP). 2. Express the individual supply curves and the market supply curve in equation form. 3. Interpret the slope and the intercept of the market supply curve. the point elasticity of market supply of palay as price increasesWhich COMPONENTS (IF ANY) of U.S. GDP (consumption C, investment I, government spending G, and/or net exports NX) THIS YEAR would be affected and HOW (INCREASE OR DECREASE) if: (a) you buy an OLD house in Coral Gables and start living in it (b) Jackson Memorial Hospital buys a new MRI scanner produced in Germany (c) Whirlpool produces some kitchen appliances but does not manage to sell them this year (d) you cook yourself a dinner (ignore the cost of all ingredients and the increase in your utility bill)3. Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category Wages and Salaries Consumption Investment Depreciation Government Amount (in billions) 1000 1700 700 50 100 Expenditure Тахes 300 Еxports Imports Income receipts from rest of the world Income payment to rest 50 40 10 50 of the world What are net exports for China? 4. Suppose that GDP in Japan is 1030 and then grows to 1160 (all numbers in billions) What is the growth rate of GDP in Japan?
- Consider the following data (in billion $) for a country in a particular year: (assume this country has Zero Transfer Payment Personal consumption expenditure (C) 200 Exports (x) 10 Government Purchases of goods and services (G) 120 Imports (m) 15 Gross Domestic Product (Y) 1800 Taxes 20 d. What is the value of gross investment? e. What is the value of net export? f. Is the country lending to or borrowing from rest of the world? g. Dose the government has deficit, balance or surplus budget? h. What is the amount of investment financed by national saving? i. What is the amount of investment financed by borrowing from rest of the world? J. What is the meaning of transfer payment5. 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…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…
- 1. Using the following table (hypothetical U.S. National Income and Product Accounts Data), choose the all the right statements. Category Consumption (personal consumption expenditures) Investment (gross private domestic investment) Government consumption (government expenditures) Exports Imports NFIA Net unilateral transfers I. II. IV. The GNE is 11,400 billion of dollars. The Current account is 805 billon of dollars. The Trade balance is -900 billion of dollars. The GDP is 10,550 billion of dollars. a. Only I b. I and III c. I and IV d. II and III e. I, III and IV Billions of dollars 8,000 1,300 2,100 900 1,750 +45 -20If a consumer purchases a foreign-produced hair dryer at a department store, the value of the hair dryer is: a. included in both consumer purchases and exports. b. added to capital investment in equipment but then subtracted from consumer purchases. c. included in consumer purchases but then subtracted as part of imports. d. added to imports but then subtracted as part of exports. Please explain your answer1 During the coronavirus epidemic last year, GDP contracted by approx. 6% at the same time exports contracted much more (collapse of tourism) during imports so instead. Reasons (all changes here refer to relative changes) that the contraction in GDP was much smaller than the deteriorating balance in foreign trade in goods and service was to: (1) Two of the others are correct. (2) Changes in inventories increased when exports were made that were not produced during the year. (3) Private consumption, C collapsed and this meant that GDP contracted less than balance of exports and imports. (4) The government assisted the economy and contributed to increasing GDP by reducing public consumption, G. (4) National expenditure did not decline as much as GDP, which offset much contraction in the balance of exports and imports.