31. نه ل ل ت م م a. b. C If US GDP exceeds US GNP, then intermediate production exceeds final production. foreigners are producing more in the US than Americans are producing in foreign countries. real GNP exceeds nominal GNP. real GDP exceeds nominal GDP. Americans are producing more in foreign countries than foreigners are producing in the US.
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- According to the following information answer the questions. Macroeconomic Indicators: Country A Household final consumption: $40.3 billions Government final consumption: $15.7 billions Budget balance: $-3.8 billions Total Investment: $14.4 billions Exports of goods and services: $18.6 billions Imports of goods and services: $16.5 billions Country A's net capital inflow = $____billions Your AnswerAccording to the figure showing 2020 GDP for selected countries, how much larger (in percentage terms) is America's GDP than: The G D Ps are as follow: United states, 21.43; China, 14.24; Japan, 5.08; Germany, 3.86; India, 3.87; Great Britain, 2.83; Russia, 1.70; Mexico, 1.27; Sweden, 0.53; Greece, 0.21; Haiti, 0.08. Instructions: Round your responses to the nearest whole number. Russia? ______ % larger Germany? ______ % largerConsumption $500Government Expenditures $200GNP $800Gross Private Domestic Investment $100Imports $100Exports $50 Questions:1. Using the data above, GDP is equal to __________________.2. Using the data above, Net Exports is equal to _____________.
- here are the final goods and services produced that are included in Germany's GDP? A. anywhere, as long as they are produced using German labor B. within Germany C. anywhere, as long as they are produced using German resources D. outside of Germany E. within Germany but only if they are produced using only German resourcesAn economy produces final goods and serviceswith a market value of $5,000 billion in a givenyear, but only $4,500 billion worth of goods andservices is sold to domestic or foreign buyers. Isthis nation’s GDP $5,000 billion or $4,500 billion?Explain your answer.For a certain economy, let the following data is measured in million birr Net foreign expenditure (3,000) Wage and salary of labors (8,000) Government Transfers to Individuals (3000) Rent of land and physical capitals (6.000) Government expenditure (10,000) Domestic consumption expenditure (12,000) Dividends (2,000) Interest of saving and financial capital (4,000) Profit of proprietor (sole proprietorship and partnership firms) (3.000) Undistributed corporate profit (corporate income tax + dividend +retained earning) (5,000) Indirect business tax (VAT, sales tax, excise tax) (7.000) Net Interest (public and personal) (7.000) Depreciation of fixed capital (2,000) Population number in million (9,000) Statistical discrepancy (error in measuring) (+1,000) Business Investment expenditure (11.000) Net factor income (4,000) Social Insurance Contributions (5,000) Personal Interest on Income (5,000) Personal income tax and non-tax payments (6,000) D) Calculate NDP E) Calculate NNP F) Calculate…
- For a certain economy, let the following data is measured in million birr Net foreign expenditure (3,000) Wage and salary of labors (8,000) Government Transfers to Individuals (3000) Rent of land and physical capitals (6.000) Government expenditure (10,000) Domestic consumption expenditure (12,000) Dividends (2,000) Interest of saving and financial capital (4,000) Profit of proprietor (sole proprietorship and partnership firms) (3.000) Undistributed corporate profit (corporate income tax + dividend +retained earning) (5,000) Indirect business tax (VAT, sales tax, excise tax) (7.000) Net Interest (public and personal) (7.000) Depreciation of fixed capital (2,000) Population number in million (9,000) Statistical discrepancy (error in measuring) (+1,000) Business Investment expenditure (11.000) Net factor income (4,000) Social Insurance Contributions (5,000) Personal Interest on Income (5,000) Personal income tax and non-tax payments (6,000) A) Calculate GDP using income…For a certain economy, let the following data is measured in million birr Net foreign expenditure (3,000) Wage and salary of labors (8,000) Government Transfers to Individuals (3000) Rent of land and physical capitals (6.000) Government expenditure (10,000) Domestic consumption expenditure (12,000) Dividends (2,000) Interest of saving and financial capital (4,000) Profit of proprietor (sole proprietorship and partnership firms) (3.000) Undistributed corporate profit (corporate income tax + dividend +retained earning) (5,000) Indirect business tax (VAT, sales tax, excise tax) (7.000) Net Interest (public and personal) (7.000) Depreciation of fixed capital (2,000) Population number in million (9,000) Statistical discrepancy (error in measuring) (+1,000) Business Investment expenditure (11.000) Net factor income (4,000) Social Insurance Contributions (5,000) Personal Interest on Income (5,000) Personal income tax and non-tax payments (6,000) J) GDP per capita G) Calculate PI H) Calculate…A. Which expenditure category do each of the following items count in? Group of answer choices - (consumption, none, government spending, investment, net exports) you spend your tax refund on a new car built in America? the government builds a new school? you sell a used textbook to your friend? Company X buys solar panels built in China? B.Which of the following is an example of a durable good? Group of answer choices gasoline a television an ice cream cone a pair of socks
- GDP measures: the value of production total expenditures income of factors production all the above 2. GDP does NOT include: re-sale of houses durable consumption spending consumption spending for services payment of WVU faculty salaries 3. Suppose that Inventories fall by $2 billion, Consumption increases by $8 billion, Welfare Payments decline by $3 billion, Export increases by $2 billion and Import also increases by $2 billion. Ceteris paribus! By how much should measured-GDP change? $6 billion $8 billion $11 billion $9 billionQuestion 2 - Computation and Short AnswerStudents are required to show ALL workings to be awarded the full marks for eachpart of this question.(a) Calculate GDP using the Income and Expenditure Approach. (all figures are in billions of dollars):Item Amount ($)Government purchase of goods and services 1,721.6Exports 1,096.3Receipts of factor income from the rest of the world 382.7Depreciation (consumption of fixed capital) 990.8Net fixed Investments 688.2Corporate income taxes 265.2Consumption expenditures 6,739.4Indirect business taxes 664.6Imports 1,475.8Payments of factor income to the rest of the world 343.7Inventory change 56.5Social security contributions 702.7Undistributed corporate profits (retained earnings) 130.3Government transfer and interest payments 1,366.3Personal interest payments 286.2Personal taxes 1,235.7Would you usually expect GDP as measured by what is demanded to be greater than GDP measured by what is supplied, or the reverse?