Describe in detail the main components used in measuring GDP based on what is spent?

Q: Suppose, at the beginning of the year, there are ten cranes in the economy. During the course of the…

A: Gross investment is the monetary value of the asset or business in which a company has invested…

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: 5 - :How to measure GDP in a closed economy? A) C+I+G B) C+G C) C+S D) C+I E) C+I+G+NX…

A: 5 - :How to measure GDP in a closed economy? The answer is - A) C+I+G

Q: 3. Which of the following is not included in investment expenditure? a) changes in business…

A: 13)Purchasing would mean investment. Change in business inventories would not be included under…

Q: 4. What are the two different ways of looking at GDP? The (or output) approach adds up all the…

A: National income describes the total value addition, income generation, or expenditure made on…

Q: I need help with answering these four questions - why is  a large GDP is a good thing for the…

A: Answer: GDP: GDP refers to the value of goods and services produced within the domestic territory of…

Q: Real GDP C I G NX 2500 1770 540 400 - 250 2400 1700 540 400 -240 2300 1630 400 -230 540 2200 1560…

A: The components of an economy's aggregate expenditure that are unaffected by the real amount of…

Q: Give an example of something that would increase GDP but would be considered undesirable and explain…

A: An increase in GDP could raise people's living standards and improve their quality of life. GDP is a…

Q: 4.  a mechanic builds an engine and then sells it to a customized body shop for $7,000. the body…

A: GDP refers to the total value of all the final goods and services produced within the economy during…

Q: d) Research the concept of measuring GDP using the value added approach and provide a working…

A: Gross domestic product (GDP) calculates an economy's generation over a particular duration. More…

Q: 30. Suppose that the GDP deflator is 150, and nominal GDP is $7.5 billion. What is the real GDP? (A)…

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

Q: why is GDP  an economic indicator and why do we need to use it as a measure of the health of an…

A: Hi! Thank you for the question. As per the honor code, We’ll answer the first question since the…

Q: National Income Accounting) Explain why intermediate goods and services usually are not included…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 3) What are two weaknesses of GDP?

A: The total monetary or market value of all finished goods and services produced within a country's…

Q: 3. Compute Nominal GPD, Real GDP, and GDP Deflator using the data below Compute the % change in…

A: Nominal GDP is current year GDP. Real GDP is constant year GDP.

Q: Last year, a small nation with abundant forest cut down $200 worth of trees. It then turned $100…

A: We will use Value of output approach to calculate the GDP for the given nation. Each activity adds…

Q: 5. Real versus nominal GDP Consider a simple economy that produces two goods: pencils and oranges.…

A: Nominal GDP: - it is the value of all final goods and services produced in any country in a given…

Q: 7. Which of the following transactions will be included in GDP for the United States? For each,…

A: There are four components of GDP:- GDP=C+I+G+NX Where; C= Consumption spending I= Investment G=…

Q: Question 1 a) Give the definition of GDP and explain what items are not included in its calculation?…

A: Note:- Since we can only answer up to three subparts, we'll answer the first three. Please repost…

Q: Explain how and why GDP is not nescessarily a good measure of our economic well-being. You should…

A: GDP refers to the production of goods and services during an accounting year. it is assumed that…

Q: 1) What does GDP attempt to measure?

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What is meant by potential GDP?

A: The total monetary or market value of all finished goods and services produced within a country's…

Q: 2. Real versus nominal GDP Consider a simple economy that produces two goods: pencils and envelopes.…

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

Q: If in some country personal consumption expenditures in a specific year are $50 billion, purchases…

A: The gross domestic product shows the value of all final goods and services which is produced in the…

Q: .How is GDP computed by using production method? By Expenditure method? By Income method?

A: GDP is a broad measure of a country's economic activity that is used to estimate the size and growth…

Q: Question 2 a) Give the definition of GDP and explain what items are not included in its calculation?…

A: GDP is the gross domestic product is the monetary value of the final goods and services in a given…

Q: 3.  To which component of GDP expenditure (C,I,G, or NX) does each of the following belongs. A.…

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

Q: . Which of the following would not give us a measure of GDP? a) The aggregate value of all incomes…

A: GDP is the production of goods and services during an accounting or financial year.

Q: 5. a) Assuming the following were the only goods and services purchased in an economy in a year,…

A: GDP Deflator measures the change in prices of all goods produced domestically.

Q: 2. Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category…

A: Real GDP is the value of goods and services that have been produced in an economy in any given year.

Q: GDP is composed of a number of categories. What category makes up the largest portion of GDP? What…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: . Distinguish between nominal GDP and real GDP?

A: Since you have provided multiple questions, we will solve the first question for you. If you want…

Q: 4. Consider the expenditure approach to the measurement of GDP. For each of the following…

A: GDP: The all-out financial or market estimation of the multitude of completed merchandise and…

Q: 23. Which of the following is used to calculate GDP through the expenditure approach? a. C + I + G…

A: GDP is the value of the total goods and services that are produced in an economy in a given year. It…

Q: why is  a large GDP  a good thing for the economy and sosociety?  what would a large GDP mean to an…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Explain how net exports affect the U.S. economy.Describe both positive and negative impacts onGDP.…

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

Q: 2. In a couple sentences, explain the definition of GDP. What kinds of spending are included, and…

A: Out of all the components of GDP, net exports is the most important component as it determines the…

Q: 1. What is the distinction between Nominal GDP and Real GDP?  Which is more important in terms of…

A: Hi there! Thank you for the question. We’ll answer the first question since the exact one wasn’t…

Q: About the Green GDP:  1-explain how to calculate green GDP ? 2-why should we apply green GDP system…

A: A green gross domestic product refers to an index of economic growth with the environmental…

Q: 20. Which of the following represents the measurement of GDP as the sum of consumption…

A: GDP is the final value of all the goods and services which are produced within the domestic economy…

Q: Suppose that an economy consists of only two individuals. Trevor has $1310 available to spend on…

A: Given information Total income available =$1310 Economy income refers to  the total income or the…