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2.Distinguish the final goods or services, intermediate goods or services, and capital goods?
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- 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.1) Explain how GDP is used in the calculation of a recession or economic growth. What is a recession? How do you know whether an economy is growing or not? 2) Explain why intermediate goods are not counted in the calculation of GDP. What is an intermediate good?21- The purchase of a new car falls under which of the following types of expenditure? A) C B) M C) G D) X E) I
- 11 - : In an imaginary economy, if the disposable income is 200 and the consumption expenditure is 220, what are the savings? a) -20 B) -40 NS) -50 D) -10 TO) -304. 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?16- Which one of these will be deducted from gross output to determine the net output? a. Intermediate consumption b. Private income c. Factor income from abroad d. Total government spending
- Y7 Using the following question: "Is the value of the final goods determined by the factors of production OR does the value of the final Goods determine the value of the factors of production?" How were the Marginalists different than previous economists?Karrie is a golf pro, and after she paid taxes, her income from golf and her interest from financial assets totalled $2,500,000 in 2019. At the beginning of 2019, she owned $1,100,000 worth of finanialassets. At the end of 2019, Karrie's financial assets were worth $1,300,000. How much did Karrie spend on consumption goods and services during 2019 ? Karrie spent $ enter your response here on consumption goods and services.
