Billions of dollars) (Billions of dollars) 1,789 9,817 1,863 10,128 2,011 10,470 2,160 10,961 2,293 11,686 res as a percentage of GDP on the following graph, rounded to the nearest percent. Use the purple points the green points (triangle symbol) for revenues. ich you would like them connected. Line segments will connect the points automatically. Expenditures Revenues 2003 2004 2005 dget in deficit? Check all that apply.
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- The measure to measure the value of the total final production in a country during a year is the gross domestic product. answer with more than 5 sentences Which variables determine the gross domestic product? What are the two approaches that are used to measure gross domestic product?Calculate the GDP using Income OR Expenditure Approach (all figures are in billions of dollars) ITEM Amount ($) Government purchase of goods and services 1,721.6 Exports 1,096.3 Receipts of factor income from the restof the world 382.7 Depreciation (consumption of fixed capital) 990.8 Net fixed Investments 688.2 Corporate income taxes 265.2 Consumption expenditures 6,739.4 Indirect business taxes 664.6 Imports 1,475.8 Payments of factor income to the rest of the world 343.7 Inventory change 56.5 Social security contributions 702.7 Undistributed corporate profits (retained earings) 130.3 Government transfer and interest payments 1,366.3 Personal interest payments 286.2 Personal Taxes 1,235.7 Type answer pleaseuestion 19 Suppose a DVR is bought from China for $200 and sold in the US for $250. GDP will count this as $200. as $250. as a net of $50 ($250 sale minus $200 import). as nothing.
- (1f) If Nominal GDP is $16,000 billion and the GDP deflator is 50, then Real GDP is: $25,000 billion. $32,000 billion. $8,000 billion. (1g) For productivity to increase the total number of hours worked has to increase. the value of the production per hour worked has to increase. the total production or output has to increase. (1a) The Helper Company’s customer service representatives received new computers and training on how to utilize them best. In regards to measuring productivity, these new computers and updated technology knowledge have increased profit for the Helper company. increased capital deepening for the Helper company. increased costs for the Helper company. (1b) Of the following examples, which one has little or no effect on labor productivity? The frequency of business cycles. (my guess) Technological change. The quality and quantity of available capital resources. (1c) What can you conclude when a nation’s production possibilities frontier shifts outward?…Using the midpoint method (percentage change = change in quantity/average), calculate the percentage change in a nation’s GDP from $1 trillion in 2005 and $1.03 trillion in 2006. Group of answer choicesCalculate GDP using the Income and Expenditure Approach.(all figures are in billions of dollars): Item Amount ($)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…
- 20 GDP in an economy is $12,050 billion. Consumer expenditures are $8,500 billion, government purchases are $1,900 billion, and gross investment is $1,410 billion. Net exports must be1Discuss the effectiveness of Gross Domestic Product (GDP) as a measure a measure of the standard of living. Highlight the different methods used to measure GDP.Calculate GDP using the Income or Expenditure Approach. (all figures are in billions of dollars): Item Amount ($) Government purchase of goods and services 1,721.6 Exports 1,096.3 Receipts of factor income from the rest of the world 382.7 Depreciation (consumption of fixed capital) 990.8 Net fixed Investments 688.2 Corporate income taxes 265.2 Consumption expenditures 6,739.4 Indirect business taxes 664.6 Imports 1,475.8 Payments of factor income to the rest of the world 343.7 Inventory change 56.5 Social security contributions 702.7 Undistributed corporate profits (retained earnings) 130.3 Government transfer and interest payments 1,366.3 Personal interest payments 286.2 Personal taxes 1,235.7 (b) Using the following data calculate: (i) The number of persons employed. (ii) The number of persons unemployed. (iii) The labour force. (iv) The Labour Force Participation rate. (v) The “official” unemployment rate.
- Analyze the two approaches used to measure Gross Domestic Product (GDP) Give examplesFind the last year GDP data and the personal consumption expenditure data (in billions) for the US economy. Section 1: Domestic Product and Income(1) Real domestic output (GDP=DI) millions (2) Aggregate Expenditures, private closed economy millions (3) Exports/ millions (4) Imports/ millions (5) Net exports, private economy (6) Aggregate expenditures, open millions RM 350 RM 400 RM 450 RM 500 RM 550 RM 600 RM 650 RM 700 RM 390 RM 430 RM 470 RM 510 RM 550 RM 590 RM 630 RM 670 RM 35 RM 35 RM 35 RM 35 RM 35 RM 35 RM 35 RM 35 RM 45 RM 45 RM 45 RM 45 RM 45 RM 45 RM 45 RM 45 a) If the equilibrium GDP for a private closed economy is RM550 million (see table above), what is the change in equilibrium GDP caused by the additional net exports when the private close economy is open? b) At an original RM35 million level of exports, what would be net exports and the equilibrium GDP if imports were RM10 million greater at each level of GDP? c) Explain how sticky prices relate to the aggregate expenditure model. d)…