Assume the economy experiences an increase in non-market transactions and a decrease in market transactions. Which of the following is true? A. GDP will increase B. The productive activity has increased. C. GDP will decrease D. The market value of services will increase.

Assume the economy experiences an increase in non-market transactions and a decrease in market transactions. Which of the following is true? A. GDP will increase B. The productive activity has increased. C. GDP will decrease D. The market value of services will increase.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 3SQP

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On the demand side of GDP, consumption by _____________ is the largest component of GDP, accounting for about two-thirds of the GDP in any year. options a) businesses b) households c) services d) government
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Suppose a simple economy produces five goods: chicken, potatoes, oranges, orange juice, and tractors. The tractors are sold to firms as a final investment expenditure and not sold to the households. Additionally, half of the oranges are used as an intermediate good to make the orange juice, while the other half are sold as a final good to the household. The rest of the domestic goods (chicken, potatoes, and orange juice) are sold to the household as a final consumption good. Quantity (2018) Price (2018) Quantity (2019) Price (2019) Chicken 100$7.00150$8.50Potatoes300$3.00500$4.00Oranges2000$5.003000$5.50Orange Juice500$8.00625$10.50Tractors10$1,000.0012$1,225.00 Using 2018 as the base year, what is the fixed-weight real GDP in 2018? A $25,600.00 B $15,600.00 C $10,600.00 D $20,600.00 Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.
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