2. As an economic and accounting analyst, which of the two should a government pay more attention for domestic and economic growth? a. increase importation of goods and services b. increase export of goods and services Choose either a or b. Explain your answer in your own words, 5- 6 sentences.

2. As an economic and accounting analyst, which of the two should a government pay more attention for domestic and economic growth? a. increase importation of goods and services b. increase export of goods and services Choose either a or b. Explain your answer in your own words, 5- 6 sentences.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 1SCQ: Country A has export sales of 20 billion, government purchases of 1,000 billion, business investment...

See similar textbooks

Related questions

Q: Consider an economy in which all taxes are autonomous and the follov us consumption, planned investm...

A: Disclaimer “Since you have asked multiple questions, we will solve the first question for you. If yo...

Q: Suppose the Following information was published by Australia Bureau of Statistics in 2017: Item A...

A: Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation u...

Q: Suppose the Australia Bureau of Statistics indicated that the Consumer Price Index (CPI) increased t...

A: A consumer price index is a price index that measures the cost of a weighted average market basket o...

Q: Does the old agent consume more with a growing money stock and transfers than in the equilibrium wit...

A: When money has failed to serve as a store of value in the past, it hasn't been because the fiat obje...

Q: (a) Compare and contrast monopoly and perfect competition market structures in the Long-run. Click o...

A: Markets is the place where economic agents interact for exchange of goods nad services at certain pr...

Q: Refer to the figure below and assume that the values for points a, b, and c (the combined value of c...

A: At point a = $20 billion point b = $40 billion point C = $36 billion

Q: The price/demand function of a company is p= 42 – 0.001D and the cost function is 30D + 1200. Determ...

A: We know that at equilibrium level demand and supply for goods and services are equal at certain pric...

Q: 3. Effects of rent control Part 2 Rent controls force landlords to price apartments below the equili...

A: When there is rent control in an economy that forces landlords to price apartments below the equilib...

Q: globalization, what are the reasons considered for their necessity/importance? Also what are the fac...

A: A trading bloc is a type of intergovernmental agreement, often part of a regional intergovernmental ...

Q: 2020 4t X 300 6t X 600 Let P- the per-unit market price; Q, - the number of units produced and sold ...

A: Nominal GDP is the market value of goods and services produced in an economy, unadjusted for inflati...

Q: If the labor force of 165 million people is growing by 1.6% this year, how many new jobs have to be ...

A: Given: Labor force=165 million Growth this year=1.6%

Q: An investment of P 8.5 million is expected to yield an annual gross income of P 2.85 million. Annual...

A: A rate of return (RoR) is the net gain or loss of an investment over a specified time period, expres...

Q: 1.22. Consider the following investment, in an inflation-free economy. Gamma High-Tech Company is co...

A: Introduction Cash flow shows the inflows and outflow of a project during a particular period. Here, ...

Q: 4. The profit function of Firm GG is n=-2q2+280q. What is the profit maximizing quantity?What is the...

A: Given: Profit function, p=-2q2+280q

Q: Match the following items with the type of economy they relate to Free markets create the most wealt...

A: * ANSWER :- (2) Based on the above information the answer is provided as below.

Q: The table shows the demand and supply schedules for on-campus housing. Quantity demanded Quantity If...

A: The maximum amount of rent that can be charged by the owner is called the rent ceiling.

Q: The figure below shows a consumer maximizing utility at two different prices (the left panel) and th...

A: From the utility maximizing point A : Consumption of x = 24 Consumption of y = 48 From Graph 2 : A...

Q: A consortium of international telecommunication companies contracted for the purchase and installmen...

A: Given:- Total cost=US$990 million Charges=10% Period=16 years Salvage value=0 To calculate:- Book va...

Q: Suppose your wealth is 8 and you are considering a bet of a 50% chance of winning $4 and a 50% chanc...

A: Initial Wealth = 8 Probability of winning (4) = 0.5 Probability of loosing (4) = 0.5 Utility funct...

Q: Draw a demand curve for lattes. Label it. Next question Price (dollars per latte) Use any prices and...

A: The curve that depicts various quantities of goods being demanded by consumers at various levels of ...

Q: In one month, Manal can knit 2 sweaters or 4 scarves. In one month, Tamara can knit 1 sweater or 3 s...

A: Here, it is given that, Manal can knit 4 scarves or 2 sweater in a month, and Tamara can knit 3 scar...

Q: Two chemical companies, A and B, operate in a small New England town. Every week A releases 40 gallo...

A: Hi! Thank you for the question as per the honour code, we’ll answer the first question since the exa...

Q: Country S and Country T are two similar countries with the same working population equal to 100. Fir...

A: Introduction Two countries S and T are given. and both the countries have same working population wh...

Q: 9- The manufacturer of a superconducting magnetic energy storage system can buy a new equipment for ...

A: Given: The future amount of the equipment is = $7,000,000 Years = 3 The inflation rate is = 10% The ...

Q: It says that urban environment is complex? Why?

A: Rapid urbanization being combined with improvement in living standards is, in turn, stretching resou...

Q: sitier the production model studied in Chapter 4. Final output in the economy is pro- duced using ca...

A: The perfectly competitive markets display the following features are: That there is a rather large ...

Q: In the graph, producer surplus is equal to P. 10 D 6. $12 O $30 O $54

A: Given

Q: 12. Margarette Tire shop simulated the following data below. How much is his expected daily demand? ...

A: Expected daily demand refers to Expected value of demand on daily basis. It includes the summation o...

Q: Suppose you bought a condo for $200,000 financing it with a $40,000 down payment of your own funds a...

A: * SOLUTION :- Given that , (2) Based on given information the calculation is as follows.

Q: Required information MPC = 0.9; MPM = 0.2 Refer to the above information to answer this question. W...

A: The marginal propensity to earn, (MPE), is a difference between MPC and MPM

Q: How can MNEs act ethically in host countries?

A: A multinational enterprise is defined as the business organisation which has business operations in ...

Q: The economy below has a linear production possibility frontier, given by C=Y-G/q. The government has...

A: Since public good is inferior, its quantity demanded goes down if it becomes cheaper. Here because o...

Q: Why do you oppose the taxation of purchasing NFTs? Infoslide: An NFT, which stands for non-fungible...

A: A digital asset that depicts real-world elements like as art, music, in-game items, and films is kno...

Q: The budget function for the economy of Sunsville is T - G = -400 + 0.25Y. a) Suppose income is $4,0...

A: Given the budget function of Sunsville: T-G=-400+0.25Y ... (1) When the value of T-G is pos...

Q: Certainty Utility D 200 198 194 D' Total utility 170 Expected Utility of wealth A 140 10,000 15,000 ...

A: (a) (a) Expected utility guides consumer to select among risky choices. Certainty utility gives mi...

Q: show in graph how the current account got a deficit of 12% GDP and the budget deficit of 3%. Suppos...

A: The current account deficit is a measure of a country's trade in which the value of imported goods a...

Q: Calculate cross price elasticity when change in price of bread is 6% and change in quantity demanded...

A: Complementary products are defined as those goods which are demanded together. If the price of the i...

Q: Time-series data: are always associated with price-making firms. may exhibit trend or cyclical var...

A: Time series data refers to the collection of data on the basis of changing time period, and to show ...

Q: Calculating GDP with the exenditure approach and income approach... O..gives the same result ..can g...

A: GDP measures the market value of final goods and services produced by an economy during a given peri...

Q: Define the economic background of the tendency for courts to award custody to mothers in divorce pro...

A: The history of child custody following divorce reflects the changing view of children and the evolvi...

Q: Can the developing countries escape from middle-income trap ? How ? Explained with comprehensive

A: Developing economies are defined as those economies which have lower human development index as comp...

Q: Suppose that a consumer cannot vary hours of work as he or she chooses. In particular, he or she mus...

A: In a perfectly competitive market, one of the determinants of the equilibrium wage and quantity of l...

Q: How can we solve the externalities that are related to common resources and public goods? Select an ...

A: Public goods are those goods which are freely available on the market and whose use does not affect ...

Q: What are the breakeven points and the range of profitability for below given Total profit general eq...

A: Break-even point refers to the point at which the total revenue is equal to the total cost. There is...

Q: 1. Suppose David spends his income (I) on two goods, x and y, whose market prices are px and py, res...

A: In economics, "utility" refers to the sense of well-being that comes from using a product or service...

Q: Question 3 A firm in a competitive price-searcher market faces O a horizontal demand curve at the ma...

Q: Why do some marginalised groups in the USA and Canada reject the idea of globalisation? In answering...

A: Populations beyond the normal society and extremely susceptible populations that are deliberately re...

Q: Often the marginal cost (MC) is initially decreasing as Q rises because... the marginal productivity...

A: Marginal product refers to change in total output due to an addition of one more unit of input.

Q: The price of a product is initially $10 and 200 units are sold per day. The price elasticity of dema...

A: Given; Initial price= $10 Initial quantity= 200 units Price elasticity of demand= -0.8 Increase in s...

Q: Which of the following best defines a public good? Select the correct answer below: A public good is...

A: A good is nonexcludable when it is not possible to prevent people from enjoying the benefits of the ...

Question

2. As an economic and accounting analyst, which of the two should a government pay more attention
for domestic and economic growth?
a. increase importation of goods and services
b. increase export of goods and services
Choose either a or b. Explain your answer in your own words, 5- 6 sentences.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

For a high-income economy like the United States, what aggregate production function elements are most important in bringing about growth in GDP per capita? What about a middle-income country such as Brazil? A low-income country such as Niger?
Country A has export sales of 20 billion, government purchases of 1,000 billion, business investment is 50 billion, imports are 40 billion, and consumption spending is 2,000 billion. What is the dollar value of GDP?
Would you usually expect GDP as measured by what is demanded to be greater than GDP measured by what is supplied, or the reverse?
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
A. By what percentage did GDP decline in 2008? B. At that rate, how much output would have been lost in the $14 trillion economy of 2008?$ Billion C. How much income did this represent for each of the 300 million U.S citizens?
The following are a year's data for a hypothetical economy. Comsmption $400B, Government purchases $350B, GDPI $150B, Exports $150B, Imports $100B, Depreciation $50B. a) what is the value of GDP and NDP? b) what is the value of Net private Domestic investment ? c) suppose that in the next year exports increases to $175B, imports increase to 200B, and consumption falls to 350B. What will GDP be in that year?
discuss why do national income and personal income differ, what happened during economics growth
6. Suppose an economy starts with a GDP of $100m. If the economy grows at a rate of 7.5%, how much the economy will grow in 15 years? ( Show the formula and your full works and).
2. Which of the following is more likely to be effective in increasing the growth rate of real GDP? temporary cuts in income taxes permanent cuts in business taxes a one-time personal income tax rebate All cuts in taxes are equally likely to increase the growth rate of real GDP
A9 1. Why is falling GDP or negative GDP growth generally seen as a bad sign? 2. For each item, put a “C” if it represents Consumption Spending, an “I” for Investment Spending, a “G” for Government Spending, or a “X” for export spending or “M” for import spending. Apple purchases a new warehouse I get a haircut for graduation The State of New Jersey repairs roads You buy a laptop for school The federal government buys a jet Your family goes out for pizza.
Suppose that every additional 3 percentage points in the investment rate boosts GDP growth by 1 percentage point. Assume also that all investment must be financed with consumer saving. Note: Investment rate = Investment/GDP The economy is currently characterized by Consumption: $11 trillion Saving (= Investment): $3 trillion GDP: $14 trillion If the goal is to raise the growth rate by 2 percentage points, a. by how much must investment increase? billion b. by how much must consumption decline? billion
A country’s per-capita nominal GDP is growing at 5%, its price level is growingat 3% and its population is growing at 1%. How fast is its aggregate real GDPgrowing?(a) 2%(b) 3%(c) 4%(d) 5%