Calculate Nigeria's real GDP per capita growth between the second and third quarters of 2020.  Answer should be in percent form.

Q: Real GDP measures the A. total dollar value of all goods and services produced within the borders…

A: Real gross domestic product (Real GDP) is a macro economic measure of output produced in an economy.…

Q: There are three firms In an economy: A. B, and C. Firm A buys $350 worth of goods from firm B and…

A: *ANSWER :-  *a) GDP is the addition of value of goods and service minus purchase of intermediate…

Q: An Economy is composed of a Producer of Apples, a Producer of Bananas, a Grocery Store, Consumers,…

A: Total profits = Profits made by Apple producers + Profits made by banana producers + Profits made by…

Q: Calculation of GDP using the income approach, the size of a country's national income will be equal…

A: GDP is the final value of goods and services produced in the economy during a given period of time…

Q: Classify each of the following as IN AFRICA's 2020 GDP or NOT IN AFRICA's 2020 GDP. Crude oil (used…

A: GDP is the measurement of the market value of all final goods and services produced within an…

Q: Private consumption expenditure (C) 150 Indirect Taxes 20 Gross private investment Expenditure…

A: A. Net national product (NNP) can be calculated as follows:

Q: An economy produces only 1,000,000 computers valued at $2,000 each. Of these, 200,000 are sold to…

A: Investment refers to the amount of financial expenditure planned on investment commodities like…

Q: You are so lucky to win NOK 5 million in LOTTO. (A) How does this affect the gross domestic product…

A: The sale or production of final products and services is not represented by lottery prizes. As a…

Q: Given the following data of a country ABC for the year 2000. All data is in USD million. Consumption…

A: The gross domestic product (GDP) refers to the market value of all the final goods and services…

Q: $ Billion GDP 950 Household Consumption 650 Government Consumption 150 Government Investment Direct…

A: National savings is the total savings of an economy which includes the savings of households,…

Q: An economy produces 10 cookies in year one at a price of $2 per cookie and 12 cookies in year 2 at a…

A: An economy produces 10 cookies in year one at a price of $2 per cookie, so total GDP = 10×2=$20 An…

Q: The following table contains data for country A for the year 2019. Household purchases of durable…

A: Answer: Net exports: net exports refer to the difference between the exports of a country and the…

Q: Societies choose what share of their resources to devote to consumption and what share to devote to…

A: a. Describe some forms of private spending that represent consumption and some forms that represent…

Q: Use the data to calculate nominal Canadian GDP using the spending approach for both 2016 and 2017.…

A: For 2016,Nominal GDP=Consumption+Investment+Government Spending+(Export-Import)Nominal…

Q: 2020 Q2 GDP (in 2020 Q3 nigerian currency) 790,000 million 2020 Q2 GDP (in 2018 nigerian currency)…

A: Real GDP refers to the value of all final goods and services that produced in the economy during a…

Q: Sarah is a United States citizen. Sarah works in the United Kingdom. Which of the following…

A: GDP is Gross Domestic Product which means the value of finished goods and services produced within…

Q: An Economy is composed of a Producer of Apples, a Producer of Bananas, a Grocery Store, Consumers,…

A: We use the expenditure method to calculate GDP. GDP = Consumption expenditure + Investment…

Q: Suppose a nation’s firms make heavy use of factors of production owned by residents of foreign…

A: GDP refers to the money value of all final goods and services that are produced within the country…

Q: Use the data below to calculate GDP for a given country.

A: With the given data we can calculate GDP by using expenditure method or outlay method.

Q: Which of the following equation represents GDP measured by the components of demand Group of answer…

A: GDP is the value of final goods and services produced in the economy within a given period of time.

Q: Which statement is INCORRECT? Statisticians use the prices of goods and services like a ruler to…

A: Introduction Gross domestic product is the market value of final goods and services produced during…

Q: A person who mows his or her own yard takes part in reducing GDP. the underground economy.…

A: GDP is the final value of services and goods that an economy can produce with given resources at…

Q: Identify the statement that describes the Gross Domestic Product of a country. a. All goods and…

A: Gross Domestic Product GDP by its name suggests that the output that is domestically produced within…

Q: · At the beginning of the year, you have a saw worth $2,000 and a bunch of trees. •…

A: GDP is the total value of goods and services produced within the domestic territory of a country…

Q: Fill in the blanks:  GDP = The  ______________value of all ___________ goods and services…

A: Note : Since the question contains multiple sub parts , only the first three sub parts shall be…

Q: A good is produced by a firm in 2018, added to the firm's inventory in 2018 and sold to a household…

A: Economics refers to the study of the behavior of individuals and firms when the resources are…

Q: Calculate the GDP using the Income Approach: Corporate Profits $200 Interests $150 Indirect…

A: GDP using income approach GDP = GNP + indirect business taxes + net income of foreigners +…

Q: Assume an economy in which there are two producers (coconut producer and restaurant), consumers, and…

A: GDP: The Economic growth of a country is measured in GDP terms where GDP is the measurement of the…

Q: Which of the following is counted as part of the US GDP in 2019? Question 9 options:   All cars…

A: All cars include used cars as well so they were not produced in 2019. So not a part of GDP.…

Q: Government Purchases = $____ billion Private Gross Investment = $______ billion GDP = $______…

A: (a) Government Purchases: These are the spending on all the goods and services that are being made…

Q: Personal consumption expenditures $5,850 Exports 750 Government spending 1,800 Social Security…

A: 1. Gross Domestic Product (GDP)=C+I+G+X-M=5850+1200+1800+(750-1150)=$8450

Q: An Indian citizen living in the US builds a new house in Spokane. In GDP calculations, this would be…

A: Gross domestic product (GDP) measures the aggregate of all the goods and services produced within…

Q: A U.S. consumer buys a new Toyota vehicle (a Japanese company), which is manufactured at Toyota…

A: The final value of goods and services that are being produced in an economy within a given time…

Q: The agency responsible for compiling the National Income Product Accounts for the U.S. economy is…

A: In the United States, different authorities are built ot established to deal with specfiic situation…

Q: GDP in Singapore (2019) is equal to 507.568 billion Singapore Dollars. What is the value of…

A: In the international market, any currency can be represented in the form of another currency to know…

Q: In 2019, consumer spending was $16,000; investment spending was $4,000; and net exports were –$600.…

A: GDP = C+I+G+NX where C is consumption I is investment G is govt expenditure NX net export

Q: (Change the values to the chart below.  Show all of your calculations including the Total GDP.)…

A: One method of showing up at GDP is to tally up the entirety of the cash spent by the various…

Q: Using the relevant information below: Gross Domestic Product (GDP) gross domestic product =…

A: GDP can be defined as the measurement of market values of goods and services in the terms of money…

Q: ‘GDP is the most commonly used measure of output, but it leaves some things out.’ Based on the above…

A: Macroeconomics is a sub-part of economics that is used to understand, the policies and fiscal…

Q: In each of the following cases, determine how much GDP and each of its components is affected (if at…

A: Gross Domestic Product or GDP is a statistical measure used to calculate the total money value of…

Q: The UK GDP per capita measures: Select one or more: a. the total output of London’s economy. b. the…

A: GDP per capita measures the total output of country divided by the number of people in the country.…

Q: Using the expenditure approach, calculate GDP using the following data.

A: Consumption is the expenditure of all the household sector in an economy.  Consumption expenditure…

Q: 2020 Q2 GDP (in 2020 Q3 krone) 790,000 million 2020 Q2 GDP (in 2018 krone) 835,000 million…

A: The real GDP is a metric that is used to measure the true value of the output produced over the…

Q: The island of Freedonia has two residents, Stan and Fran. In year one Freedonia produces goods worth…

A: Here, it is given that the island of Freedonia has two citizens, named as Stan and Fran. It is also…