Q: 45. The Sum of GDP and the balance of primary (net) income from abroad is... 1. Disposable income 2.…
A: GDP is one of the measures of national income. "Gross domestic product (GDP) is the total value of…
Q: Real GDP Nominal GDP GDP Deflator 246,849 103.2 268,914 100.7 257,861 264,308 266,194 105.9 241,646…
A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: what was the gdp and gnp of the united states in 2000
A: 10,252.3 billion U.S dollars was the GDP of united states in 2000.
Q: Double counting can be avoided by: Including the value of intermediate goods in the current year. O…
A: If the value of intermediate goods is not counted in GDP then double counting could be avoided.
Q: What are the other methods of calculating GDP
A: GDP: The cumulative monetary or retail cost of all finished products and services made and sold…
Q: the components of gdp
A: Gross domestic product (GDP): - GDP is the market value of all final goods and services produced in…
Q: 47. Exclude the method that is not used for determining GDP. 1. Method income 2. The method of value…
A: Economics refer to the study of the allocation of scarce resources in the most optimal way when the…
Q: GDP is: A) the sum of all currency and coins in circulation. B) the value of all final goods and…
A: GDP is gross domestic product which represents the national income of an economy.
Q: GDP is the market value of all final goods and services and intermediate goods produced within a…
A: Gross Domestic Product is the total value of all finished goods and services that are produced in…
Q: C I G NX…
A: Nominal GDP is the increment in the income or output level from year to year on the basis of market…
Q: The GDP deflator of the country is 1.5 and it's nominal GDP is 800 million. Calculate the real gdp.
A: Given GDP deflator = 1.5 Nominal GDP = 800 million Real GDP = ?
Q: 2018 2019 Nominal GDP 8449 18374 Population 240 294 Price index 100 97.55
A: Here calculation of the following by using given information and correct the answer so the…
Q: A US citizen who is working in Singapore remits $10,000 to his family in the US. The $10,000 is part…
A: Gross Domestic Product (GDP) is the value of goods and services produced within the domestic…
Q: Gross Domestic Product If nominal GDP in 2005 was $13095.4 billion and the GDP deflator (price…
A: Nominal GDP in 2005 = $13095.4 billion GDP deflator = 100 Nominal GDP includes both the growth and…
Q: how to calculate GDP
A: GDP: Gross domestic product (GDP) is the sum of all finished goods and services produced in a…
Q: The nominal GDP for 2016 was $17,500 and the real GDP was $13,000 Calculate GDP deflator
A: The data presented in the question is:- For 2016, Nominal GDP = $17,500 Real GDP = $13,000 We have…
Q: What are the three (3) measures of GDP ? How are they calculated? (100-300 words)
A: Gross domestic product (GDP) refers to the value of final goods and services produced within the…
Q: Which of the following is included in the measurement of GDP? (A) The beauty of art. (B) The love of…
A: Economies tend to get involved in various economic activities, such as the consumption of goods and…
Q: GDP data for 2019 Item Quantity Price Fun 40 $2 Food 60 $3
A: Real GDP in 2020 , when 2019 is the base year: Real GDP 2020 = Price (2019) * quantity (2020)…
Q: Calculate real GDP for all years
A: Real GDP is the monetary value of all the final goods and services produced within the national…
Q: If the nominal GDP is $118 current price index is $112 find the real GDP
A: Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation…
Q: If nominal GDP is $5 trillion and real GDP is $4 trillion, the GDP deflator is: 12.5. 125.
A: GDP Deflator measure of the level of prices of all new, domestically produced, final goods and…
Q: Discuss the effectiveness of Gross Domestic Product (GDP) as a measure a measure of the standard of…
A: Gross Domestic Product(GDP) is the cumulative market value of every final goods and services…
Q: The difference between GDP and GNP
A: The GDP or Gross Domestic Product shows the market value of all the final goods and services that…
Q: measured production - GDP; blue oval (at right) is UG economy 1. I help build a house in Columbus…
A: We will answer the first 3 subparts only. Please resubmit the question with any other parts you…
Q: Tornadoes destroy many factories in the country, while a severe drought ruins many crops. Make a…
A: The total demand, price, and even the supply conditions of a nation can be severely affected by…
Q: 19. Which of the following is included in both the U.S. GDP and GNP? a) the value of all cars…
A:
Q: 1. GDP measures the nation's economic well-being. 2. Consumption is the amount of supply and demand…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: Calculate the value of the GDP deflator in 2004. a. 113 b. 116 c. 119 d. 120 *base year is 2003
A: The formula for GDP deflator GDP deflator =Nominal GDPReal GDP×100 Base year is 2003 We have to…
Q: GDP tends to underestimate the productive activity in the economy because it excludes: Multiple…
A: Gross Domestic Product refers to the market value of all final goods and services produced within…
Q: What items are excluded from national income statistics which would be important to take account of…
A: GDP measures the monetary value of all the goods and services produced in a country, that is the…
Q: Calculate both nominal and real GDP for 2017, 2018 and 2019. I Assume 2015 as base year.
A: here we calculate the nominal and real GDP which are as follow-
Q: Q1. 1. Gross investment - $90 billion2. Net export - $103. Net indirect taxes - $ 54. Depreciation -…
A: a. GDPMp = Gross investment + Personal consumption expenditure +Government purchases of goods and…
Q: GDP measures the value of production within the geographic confines of a country and even outside…
A: The answer is FALSE.
Q: GDP is best defined as a. the cost of producing all final goods and services sold during a…
A: GDP is best defined as (b) the market value of all final goods and services produced during a given…
Q: If net exports are $30 million and imports are $113 million Find the value of exports
A: According to the above-mentioned question, the values given are:- Net exports = $30 million Imports…
Q: National income is calculated
A: Correct option is (3).
Q: Income Mexican citizens earn in the U.S. counts in Select one: a. Mexican GNP. O b. Mexican GDP. 01…
A: GNP refers to gross national product.
Q: Purchase of electricity by a family-owned business is included in GDP?
A: Gross Domestic Product is the aggregate of the values of all goods and services produced within a…
Q: If nominal GDP is $15000 million and real GDP is 12,000 million Find GDP deflator
A: The information being given to us is as follows:- Nominal GDP = $15,000 million Real GDP = $12,000…
Q: How do other methods of measuring living standard compare with GDP
A: The standard of living is estimated using per capita GDP, which would be obtained by dividing GDP by…
Q: GDP Table Transfer payments 32 Government purchases 160 Personal taxes 76 Corporate Income taxes…
A: In income approach: Total national income = It is the sum of rent, profit and salary.
Q: If GDP deflator is 177 and real GDP is $16000 million Calculate the value of Nominal GDP
A: The information being given is:- GDP deflator = 177 Real GDP = $16,000 million We have to calculate…
Q: 2003 2004 2005 Nominal GDP GDP Deflator (2001 -100) Real GDP Population (in millions) Real GDP per…
A: The measure that indicates the financial status of a nation is said to be GDP. It states the total…
Q: Nominal GDP $8,782 $9,274 Year 1998 1999 Real GDP $8,509 $8,859
A: Answer;
Q: a. Nominal GDP for all the years
A: Note: We will answer the first question as the exact one was not specified. Please resubmit a new…
Q: Distinguish between Gross Domestic Product (GDP) and Gross National Product (GNP). What are the…
A: National Income at Current Price: The commodities produced in a country during a particular period…
Q: COMPUTE THE NOMINAL GDP
A: A country's nominal GDP is determined using current prices and is not adjusted for inflation.…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Imagine that the U.S. economy finds itself in the followingsituation:agovernmentbudgetdeficitof$100 billion, total domestic savings of $1,500 billion, and total domestic physical capital investment of $1,600 billion.Accordingtothenationalsavingandinvestment identity,whatwillbethecurrentaccountbalance?What willbethecurrentaccountbalanceifinvestmentrisesby $50billion,whilethebudgetdeficitandnationalsavings remain the same?During the 2007–2009 recession, the value of commonstocks in real terms fell by more than 50%. How mightthis decline in the stock market have affected aggregatedemand and thus contributed to the severity of therecession? Be specific about the mechanisms throughwhich the stock market decline affected the economy.The data in columns 1 and 2 in the table below are for a private closed economy. (1) Real Domestic Output (GDP = DI), Billions (2) Aggregate Expenditures, Private Closed Economy, Billions (3) Exports, Billions (4) Imports, Billions (5) Net Exports, Billions (6) Aggregate Expenditures, Private Open Economy, Billions $300 $340 $20 $30 350 380 20 30 400 420 20 30 450 460 20 30 500 500 20 30 550 540 20 30 600 580 20 30 650 620 20 30 a. Use columns 1 and 2 to determine the equilibrium GDP for this hypothetical economy. $________billion b. Now open up this economy to international trade by including the export and import figures of columns 3 and 4. Fill in the gray-shaded cells in columns 5 and 6. What is the equilibrium GDP for the open economy? $_______ billion What is the change in equilibrium GDP caused by the addition of net exports? $_______billion c. Given the original $20 billion level of exports, what…
- In the economy of Carpathia: Consumption =850 billion Government purchase of goods and services = 100 billion Import = 125 billion Investment spending= 75 billion Exports = 100 billion. Taxes= 50 billion —There are no government transfers payment. — set an open a close economy given the provided data table? —Compute the following based on the data in the table above. A) GDP in Carpathia B) National savings in Carpathia: C) Net capital inflow into Carpathia: D) The savings-investment spending identity for the Carpathian economyAssume the information below to answer the following questions about the land of POGO. Assume a 2% interest rate on all interest-bearing Pogo assets (assets issued by Pogo), and a 4% interest rate on Foreign assets (issued by Foreign). POGO CONSUMER EXPENDITURES, 2020: $217B POGO INVESTMENT EXPENDITURES, 2020: $125B POGO GOVERNMENT EXPENDITURES, 2020: $25B TAXES COLLECTED BY THE POGO GOVERNMENT: $18B MERCHANDISE EXPORTS, GOODS & SERVICES TO FOREIGN, 2020: $45B MERCHANDISE IMPORTS, GOODS & SERVICES FROM FOREIGN, 2020: $65B POGO LABOR INCOME FROM ABROAD, 2020: $5B INCOME PAID TO FOREIGNERS WORKING IN POGO, 2020: $8B FOREIGN ASSETS OWNED BY PRIVATE CITIZENS OF POGO, START of 2020: $100B POGO ASSETS OWNED BY PRIVATE CITIZENS IN FOREIGN AT THE START of 2020: $50B RESERVES OF FOREIGN NON-INTEREST BEARING ASSETS HELD BY THE CENTRAL BANK OF POGO AT THE START OF 2020: $300B RESERVES OF FOREIGN NON-INTEREST BEARING ASSETS HELD BY THE CENTRAL BANK OF POGO AT THE END…In a country, private savings equals 600, the government budget surplus equals 200, and the trade surplus equals 100. What is the level of private Investment in this economy?
- Suppose we extend the circular flow model to add imports and exports. Copy the circular flow diagram onto a sheet of paper and then add a foreign county as a third agent. Draw a rough sketch of the flows of imports, exports, and the payment for each on your diagram.arrow_forward Question Asked Aug 18, 2020 25 views Consider the following model of an economy operating with fixed wages, prices and interest rates and hasexcess capacity. Adsume all figures are I Zambian kwacha. C=100+0.8yd, T=100+25Y, G=980 and I= 500 Where c is consumption, yd is disposable income, T is taxes net of transformers, G is government spending on goods and services and I is investments. Is the government running a surplus or deficit Show the impact of a reduction in government spending by 80 on the equilibrium level of national income Illustrate your new equilibrium in the same Keynesian cross diagramThe economy of Zambia has two sectors, agriculture and industry. Consumers are the end users ofthe final output. The agriculture sector produces maize worth K16000 and milk worth K16000.Maize worth K4000 as well as milk worth K6000 is sold to consumers for direct consumption, andmaize worth K12000 and milk worth K10000 is sold to the industry as intermediate inputs in theproduction of mealie meal and butter respectively. The industry uses this maize to produce mealiemeal worth K32000 and uses milk to produce butter worth K18000 which are sold to consumersfor final consumption. In addition, the agriculture sector pays wages worth K20000, rent worthK4000 and earns profit equal to K8000. The industry sector pays wages worth K16000, rent worthK6000 and earns a profit of K6000.a) Calculate GDP for the above economy using the three approaches: product approach, incomeapproach, and expenditure approach.b) Peter was bragging to his wife that his country, Zambia, is doing better than his wife’s…
- The economy of Zambia has two sectors, agriculture and industry. Consumers are the end users ofthe final output. The agriculture sector produces maize worth K16000 and milk worth K16000.Maize worth K4000 as well as milk worth K6000 is sold to consumers for direct consumption, andmaize worth K12000 and milk worth K10000 is sold to the industry as intermediate inputs in theproduction of mealie meal and butter respectively. The industry uses this maize to produce mealiemeal worth K32000 and uses milk to produce butter worth K18000 which are sold to consumersfor final consumption. In addition, the agriculture sector pays wages worth K20000, rent worthK4000 and earns profit equal to K8000. The industry sector pays wages worth K16000, rent worthK6000 and earns a profit of K6000.a) Calculate GDP for the above economy using the three approaches: product approach, income approach, and expenditure approach. b) Peter was bragging to his wife that his country, Zambia, is doing better than his…Based on your understanding, explain the importance of fiinance on the national and global economy.17. Given this diagram; what is the level of G (government purchases of goods and services)? 18. Given this diagram; what is the level of Ca (autonomous consumption)?