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- (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?…Assume 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 approachIn 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 expenditures
- Fred the farmer purchased five new tractors at $20,000 each. Fred sold his old tractors to other farmers for $50,000. The net increase in GDP of these transactions was a) 20,000 b) 50,000 c) 100,000 d) 150 0001- Khalid steel company sells steel worth OMR 45,500 to a desert driven bike manufacturer, National company. The sales of National company reaches OMR 73,800. So, the contribution to GDP is ________________ Select one: a. OMR 45500 b. OMR 28300 c. OMR 73800 d. OMR 119,300 2- One of the components of GDP government consumption expenditure and gross investment based by local, state, and federal governments. Select one: a. False b. TrueSelect all events that contribute to increase the current year’s GDP in Canada? An apple producer sells apples to an household. The government purchases newly produced books for the public schools. A firm produces a kitchen table but cannot sell it during the current year. A household purchases a newly built house. A household purchases an old house using the service of a real estate agent. None of the above.
- GDP in an economy is $4,600 billion. Consumer expenditures are $3,500 billion, government purchases are $900 billion, and gross private domestic investment is $400 billion. Net exports are: +$400 billion -$400 billion +$200 billion -$200 billionTrue or False: Personal Consumption Expenditures account for about 25% of GDP. Spending on Consumer Durable Goods tends to be very stable from year to year. Sales of used goods are included in GDP at 35% of their original sale price.GDP in an economy is $4,600 billion. Consumer expenditures are $3,500 billion, government purchases are $900 billion, and gross private domestic investment is $400 billion. Net exports are: +$400 billion B -$400 billion c +$200 billion d $-200billion
- uestion 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.10 In the expenditure approach, the total expenditures of the following entities are calculated, except a. Gross taxable incomes b. Gross private domestic investment c. Government expenditures d. Net ExportsCalculate the quarter-over-quarter percentage change in GDP for the last four quarters: Quarter-Year GDP (Billions USD) % GDP Growth Q4-2020 5,267 -- Q1-2021 5,301 Q2-2021 5,398 Q3-2021 5,718 Q4-2021 6,104