Construction contractor purchased five new trucks at $400 000 each. He sold his one old tractor to other farmers for $100 000. What is the value of GDP? a. $3 000 000 b. $2 500 000 c. $2 000 000 d. $1 000 000

Q: In the equation for GDP, which of these are part of the "I" term? A) A foreign pension fund buys…

A: Gross Domestic Product (GDP): Gross domestic product (GDP) is the total monetary or market value of…

Q: Analyze how much Pakistan’s GDP and each of its components is affected by the following…

A: The dinner purchased by Atiya will increase Personal Consumption Expenditure by 100 and so, increase…

Q: Given the following: consumption = 400, investment = 300, government expenditure = 150 and net…

A: Economy's GDP Y = Consumption + Investment + Government expenditure + Net export

Q: A farmer produces milk, which he sells to a mill for 1000 tk. The mill turns the milk into cream,…

A: GDP(Gross Domestic Product) is the total money value of all the goods and services produced in a…

Q: Hint: Add the amount of money spent by buyers of final goods and services. Which of the following…

A: GDP is the total final value of goods and services produced in a country during a particular period.…

Q: Many financial analysts use GDP as a measure of the economy's performance. However, GDP has several…

A: The GDP is the summation of the money value of all the final goods and services produced within the…

Q: Many years ago, Peggy paid $500 to put together a record collection. Today, she sold her albums at a…

A: Gross domestic product (GDP) is the monetary value of all final goods and services produced in an…

Q: The income in the Economy is $2000 million and the investment Expenditure is $1100 Calculate the…

A: According to the question, we are given that:- Income = Y = $2000 million Investment expenditure = I…

Q: Which of the following is not counted as a part of GDP? the unsold additions to inventory at an…

A: GDP ascertains the value of all final commodities made within the borders of the economy. So, it…

Q: A farmer grows a bushel of wheat and sells it to a Miller for $20.00. The Miller turns the wheat…

A: Gross Domestic Product is the final value of goods and services produced in the economy during a…

Q: Explain two (2) limitations of GDP as an indicator of performance and social welfare of an economy

A: Gross domestic product (GDP) is the total monetary or market value of all the finished goods and…

Q: n 2015, a producer of wine purchased ingredients for $1 million, labor for $0.5 million, and…

A: Given: Purchase of ingredients=$1 million Labor=$0.5 million Equipment=$0.5 million

Q: In 2016, country A faced unfavorable weather conditions. Wheat production decreased to 450kg.…

A: The gross domestic product (GDP) is the market value of goods and services produced within a year on…

Q: Q.2. John a farmer sells tomatoes to Joseph the tomato sauce manufacturer for K350 . Joseph makes…

A: Gross domestic product (GDP): - GDP is the market value of all final goods and services produced in…

Q: What is the contribution to 2020 U.S. GDP in the following scenario? A Michigan family takes a trip…

A: Gross Domestic Product is the total value of goods and services are Produced in the country's…

Q: Guided with the graph, state 2 main reasons why GDP increase and 2 main reasons why GDP decrease in…

A: A rise in aggregate demand drives economic growth in the short run (AD). If the economy has spare…

Q: A Texas oil company extracts petroleum and sells it to a refinery for $10,000. After processing, the…

A: GDP: It means the value of finished goods and services in terms of money produced in a country…

Q: State whether each item below would be included or excluded from the me explain why. OT GDP and…

A: The gross domestic product (GDP) is the aggregate value of goods and services produced in the…

Q: d. You buy an antique vase at a resale shop. e. You make your own pasta sauce in your apartment. f.…

A: The value of all the goods and services produced in an economy during a given period of time at…

Q: Increase in Included in GDP $(Dollars) Scenario Edison pays a carpenter to build a deck for $48,000.…

A: a)Edison pays the carpenter would be a part of GDP as this is for his consumption. So the GDP would…

Q: How much does the production of a kayak add to GDP if the shell costs $250, the paint costs $20, the…

A: Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation…

Q: A south sea island produces only coconuts.    In​ 2015, the price of a coconut is ​$2.50 and the…

A: Real GDP: - it is the inflation-adjusted value of all final goods and services produced in any…

Q: What is the largest component (C, I, G, or NX) of GDP? Give an example of each component.

A: The GDP is the summation of the monetary value of all the goods and services produced within the…

Q: 6.) Which of the following Transactions will be included in GDP for the United States? a.)…

A: GDP is the total market value of all finished goods and services produced in the country.

Q: Which of the following would be counted as afinal good for inclusion in GDP?a. A piece of glass…

A: Gross domestic product (GDP): - GDP is the market value of all final goods and services produced in…

Q: (d) Assume a 16 year old named William Gates writes a computer program in his garage. The software…

A: Gross domestic product is the total value of goods and services that are produced in the economy in…

Q: Which of the following are included in GDP, and which are not? a. The cost of hospital stays b. The…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: A farmer grows a bushel of wheat and sells it to a Miller for $20.00. The Miller turns the wheat…

A: According to question, A farmer produces a bushel of wheat and sells it for $20.00 to a Miller. The…

Q: Analyze how much Pakistan’s GDP and each of its components is affected by the following…

A: Gross domestic production (GDP) refers to the total value of all the final goods and services that…

Q: 4 In which method, gross domestic product (GDP) is measured, by adding all types of spending on…

A: Gross Domestic Product or GDP measures within a specified period of time the value of all of the…

Q: H6. Which of the following transactions should or should not be counted in GDP? Answer why or why…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: Question # 02 Use the information given and show in a table format how value added method is used to…

A: Answer- Need to find - How much  coal contributes to the GDP Given in the question- A forester chop…

Q: Suppose we have the following information about a car manufacturer: car sales £1000, steel purchases…

A: GDP is the value of all final goods and services produced in an economy over a given period of time.…

Q: What components of GDP (if any) would each of the following transactions affect? (with the…

A: GDP Accounting is done by two methods-- Income approach and Expenditure approach. The Expenditure…

Q: Explain why GDP may not always be the best measure of economic welfare

A: GDP measures the final value of goods and services produced in an economy. However, economic welfare…

Q: 3) The value for net exports in billions of dollars is A) -200. B)-150 C) 50. D) 250.   4) The…

A: 3) The value for net exports in billions of dollars is A) -200. B)-150 C) 50. D) 250…

Q: One bag of oranges is sold for $6.00 to a company that turns them into juice which is sold to…

A: Gross domestic product (GDP) is the standard measure of the value added created through the…

Q: Which of the following(s) is (are) weakness(es) of the GDP in reflecting the standards of living of…

A: Gross domestic product is the total market value of product produced domestically during the year.…

Q: According to the table (in billions of dollars), Consumption $1,000 Interest $80 Corporate Profits…

A: Gross Domestic Product (GDP) refers to the goods and services produced domestically within the…

Q: Analyze how much Pakistan’s GDP and each of its components is affected by the following…

A: There are four components of GDP in an open economy, namely consumption (C), investment (I),…

Q: 8. A farmer grows a bushel of wheat and sells it to a miller for birr 8.00. The miller turns the…

A: 8. Value or product added method is a method of calculating national income. This method includes…

Q: Angus the sheep farmer sells wool to Barnaby theknitter for $20. Barnaby makes two sweaters, eachof…

A: Gross Domestic Product or GDP refers to the market value of all the final goods and services…

Q: ato flour and then sells it to a Baker for $25.00. The Baker uses the flour to bake bread and sells…

A: a. GDP: The GDP or Gross Domestic Product can be defined as the total income of the country. GDP…

Q: Jake buys a used Harley-Davidson motorcycle for $2,500. He spends an additional $950 installing…

A: Cost of used bike = $2500 US made tale pipes cost = $950

Q: What activity is not included in the GDP? Emily cooked some soup for the customers in the restaurant…

A: The abbreviation "GDP" refers to the "Gross Domestic Product," which is the total monetary value of…

Q: A farmer sells cucumbers to a food processor for $1.50 per pound. The food processor makes the…

A: GDP measures the market value of all final goods and services produced within an economy in a given…