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- In the expenditure approach, the total expenditures of the following entities are calculated, except a. Gross taxable incomes b. Net Exports c. Gross private domestic investment d. Government expendituresGross private domestic investment is one of four expenditure values used in: Select one: national income accounting cost accounting financial accounting managerial accountingAssume you have the following data for a hypothetical country for a specific year (in billions of ZAR): Wages and Salaries: R2,500 Interest: R300 Rent: R200 Profits: R1,000 Taxes (Indirect Taxes Minus Subsidies): R400 Depreciation: R500 Given the data above, which of the following methods of calculating Gross Domestic Product (GDP) may be used? A. Expenditure approach B. Income approach C. Product approach D. Trade approach
- Read the following extract and answer questions?South Africa’s economy grew by 1.1% in the first quarter of the year Stats SA has published the latest gross domestic product (GDP) data covering the first quarter of the year, showing that the economy grew by 1.1% in the first three months of 2021.The growth follows a revised 1.4% rise in real GDP in the fourth quarter of 2020. On an annualised basis, theeconomy grew 4.6% quarter-on-quarter. Following confusion caused by the annualisation of GDP data in 2020 – amid the Covid-19 pandemic andresulting lockdowns – Stats SA said it would no longer use the annualised data as the headline GDP statistic. During periods of steady economic growth, annualising is a useful way of expressing quarter-on-quarterperformance in annual terms, Stats SA said. However, during periods of economic instability, annualising can be misleading, because it exaggerates growth rates that are unlikely to be repeated. Given the information about the South African…What is GNP? GNP is the market value of all the final goods and services _____. A. produced within a country minus depreciation B. produced within a country C. produced anywhere in the world by the factors of production supplied by the residents of that country D. produced anywhere in the world by the factors of production supplied by the residents of that country minus exportsGenerally, as the proportion of middle-income households in a country __________, the __________ a nation's purchasing power tends to be. A. increases; greater B. increases; less C. decreases; greater D. decreases; less E. There is no relationship at all
- Assume that you are told a country’s nominal GDP decreased from one year to the next. All of the following could have occurred, except one. Which one? Output increased and the price level decreased. Output decreased and the price level decreased. Output decreased and the price level remained constant. Output increased and the price level increased. Output remained constant and the price level decreased. Output decreased and the price level increased.Total output of an economy can be divided into its alternative uses by considering who bought the output. When people in other countries purchase part of an economy's output, this is called: Please choose the correct answer from the following choices, and then select the submit answer button. net exports. exports. investment. consumption.GDP is often calculated using the expenditures approach, where you add up all spending in four categories: Consumption (C) + Business Investment (I) + Government Spending (G) + Net Exports (Xn). Based on the data you viewed, you can assume that due to the COVID-19 pandemic, the US GDP took the largest hit from which of the expenditure categories? -Consumption -Business Investment Government -Spending -Net Exports
- Given the following information, calculate personal consumption expenditures. GDP $5,000 Gross Private Domestic Investment $1,500 Government Consumption Expenditures and Gross Investment $1,000 Net Exports -$500Consider a macroeconomy where the current population is 800 thousand people. Gross domestic private investment is constant $2500 million while consumer expenditure is described by the equation: C = 580+ 0.8DI. The government is fairly active, with a total expenditure of $2000 million and net taxes of $2550 million. Further investigation of the macroeconomy reveals that imports are constant at $3000 million while exports are constant at $2500 million. Currently, the overall price level (GDP deflator) is 118 and the potential GDP level is $13.5 billion. What is the current equilibrium level of real GDP? (report your answer at 2 decimal places and in millions of dollars) 1. What is the current equilibrium level of real GDP 2. what is the current real GDP per capita? 3. what is the value gap?True/False: Basic GDP statistics do not reflect changes in the quality of products. Net exports = exports plus imports. The estimated market value of volunteer services is not included in GDP.
