Q: Define net exports. Explain how U.S. exports and imports each affect domestic production. Suppose…
A: International trade is defined as the purchase or sale of commodities, services, and other assets…
Q: Position each of the following eight terms in the UK’s circular flow of income diagram below:…
A:
Q: Describe how the recent change in income may have affected personal savings, business investments,…
A: In the recent period, the world economy is adversely affected by coronavirus created COVID pandemic.…
Q: Answer the relevant questions about an economy with the following information. a. Gross Domestic…
A:
Q: According to a circular flow diagram of a given country, which of the following is false? a) Income…
A: Here False statement is “Currency received from foreign countries can be used to purchase exports,…
Q: Savings and wealth - Although the United States is one of the richest nations in the world, it is…
A: Saving rate basically refers to the measure that a country save from the share of disposal income…
Q: Use the information in the table below to answer Q.3.1 to Q.3.3: GDP at market prices R397bn Net…
A: The GNP at market price(MP) shows us the value(in monetary terms) of all the finished goods &…
Q: Use the information in the table below to answer GDP at market prices R397bn Net primary income…
A: The difference between the value of gross national product and depreciation is referred to as net…
Q: Using the following national income accounting data, compute (a) GDP, (b) NDP, and () NI. All…
A: GDP is a macroeconomic measure used in the computation of the aggregate total output produced in an…
Q: Explain three limitations of Gross Domestic Product.
A: Gross domestic product (GDP) refers to the total market value of goods and services produced by a…
Q: Government wants to boost the economy after the pandemic crisis. They decide to reduce the income…
A: Like GDP, potential GDP addresses the market worth of labor and products, yet rather than catching…
Q: The following table shows data on consumption, investments, exports, imports, and government…
A: here we calculate the Net export and GDP by using the following table which are as follow-
Q: Calculate GDP using the expenditure approach (Amount in billions of dollars): Corporate profits: $…
A: Expenditure approach GDP formula is as follows :- GDP = Consumption Expenditure + Investment…
Q: Show how a GH¢2,000 increase in government spending financed by a GH¢2,000 increase in taxes will…
A: Output = Consumption spending + Investment spending + Government spending + Exports - Imports. Y =…
Q: 7. The following is information from the national income accounts for Ensperanza Island, a country…
A: GDP: Y = K 6000 Gross Investment: I = K 800 Net Investment: NI = K 200 Consumption C: = K 4000 Govt.…
Q: hat are the Reason that affect the increasing purchase of goods and services in the government of…
A: The following are the main reasons that affect the increasing purchase of goods and services in the…
Q: tefer to the accompanying national income data (in billions of dollars) and answer the following…
A: Answer in Step 2
Q: Use the information in the table below to answer Q.3.1 to Q.3.3: GDP at market prices R397bn Net…
A: Net national income at factor cost can be calculated by6 using the following formula.
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: People sometimes argue that imports should be limited by government policy. Suppose a government…
A: Import Quotas: Import quotas are the trade limits on the physical quantity of a commodity that can…
Q: 15. Explain why for countries with a large spending rate (such as the United States), errors in…
A: Answer-
Q: A country has just one resource - labor - that it can use to produce two goods, books and clothing.…
A: Answer-
Q: We have the following information for an economy. All data are in billion dollars. Category Value…
A: Answer - "Thank you for submitting the question. But, we are authorized to solve one question at a…
Q: Which of these would be a drain on the GDP A. negative net exports B. positive net exports
A: GDP is production of goods and services during an accounting year.
Q: Question 22 Which of the following is included in the government purchases category of gross…
A: Answer: The government purchases category of GDP includes the spending of government to purchase…
Q: Which of these items is not a part of the country’s national income? a. Income made by stores that…
A: Which of these items is not a part of the country’s national income? B) government transfer…
Q: What are the effect of taxes on saving and consumption of less income people in low income…
A: Taxes is the compulsory payment levied by the government on the citizens of the country. Government…
Q: Which of the following is included in Gdp? Select one: a. medicare b. social security payments c.…
A: GDP is the total and final value of goods and services produced in an economy during a given period…
Q: a) GDP captures all income created in the economy, GDP also captures all expenditures made in the…
A: GDP means total market value of goods and services produced domestically.
Q: The income components of GDP include all of the following except? A. indirect taxes B. interest…
A: Gross domestic product of a country is the market value of all final commodities and services that…
Q: Use the information in the table below to answer: GDP at market prices R397bn Net primary income…
A: Net national income at factor cost can be calculated by using the following formula.
Q: Place each of the following transactions in one of the four components of expenditure: consumption,…
A: GDP by Expenditure Method = personal consumption Expenditure + Gross private Investment + Government…
Q: In the above case study, identify TWO factors that are responsible for the rise in Japan's Gross…
A: GDP refers to the total value of goods and services in an economy produced in an economy during a…
Q: Briefly describe the demirits of state enterprise in the field of national income?
A:
Q: what do you mean by CIRCULAR FLOW OF GOODS AND INCOME AMONG PRODUCERS AND HOUSEHOLDS
A: circular flow model Lets understand this concept with an example:- In this circular flow model…
Q: Why GDP can be computed either by measuring spending or by measuring income. Briefly explain
A: GDP is the aggregation of services and goods produced in the country at the given time period. Three…
Q: GDP at market prices R397bn Net primary income payments to the rest of the world R37bn Indirect…
A: Given, GDP at market prices is R 397bn Net Primary income from ROW is R 37bn Indirect taxes is R…
Q: Using the following national income accounting data, compute (a) GDP, (b) NDP, and () NI. All…
A: Formula used- GDP = Personal consumption expenditure + Net private domestic investment + Government…
Q: 3b) Discuss the following statement "An increase in the Gross Domestic Product (GDP) is always…
A: In an economy, gross domestic product refers to the total amount of output produced in a specific…
Explain how the removal of online purchase taxes on ICT devices may effect a country's
Step by step
Solved in 3 steps
- Explain how the removal of online purchase taxes on ICT devices may effect a country's GDP.What do you call the Circular flow of goods and income of households and firms with the government and foreign countries.True or false questions. Need both. GDP measures the gap between a country's exports and its imports. Any country with a trade surplus necessarily has a healthy economy (e.g. is experiencing an economic expansion).
- Which of the following are assumed to be independent of the level of national income: (a) Investment and government spending; (b) Investment and imports(c) Government spending and imports (d) Imports and exports.If the U.S. Dollar appreciates, foreigners will find American goods more expensive because they have to spend less for those goods in USD, meaning with higher prices, the number of U.S. goods being exported will likely drop and leads to a reduction in the Gross Domestic Product (GDP). True or FalseHow can a decline of natural resources and biodiversity affects a country's Gross National Product and Gross Domestic Product?
- Use the information in the table below to answer questions 6 and 7: GDP at market prices R378bn Net primary income payments to the rest of the world R37 bn In direct taxes R51bn Subsidies R12 bn Consumption of fixed capital R43 bn GDP at factor cost is R339 bn True False The value of Gross National Income (GNI) at market prices is:R341 bnSuppose Country A has the same GDP as Country B, and that neither nation’s residents own factors of production used by foreign firms, nor do either nation’s firms use factors of production owned by foreign residents. Suppose that relative to Country B, depreciation, indirect business taxes, and personal income taxes in Country A are high, while welfare and Social Security payments to households in Country A are relatively low. Which country has the higher disposable personal income? Why?Which of the following is added to the GDP? A. Exports B. Imports C. Net Exports D. Personal Income Tax
- Suppose we have an economy where C = $30 Billion, I = $50 Billion, G = $20 Billion, Imports = $2 Billion, and Exports = $5 Billion. What is the trade balance this economy? a. What is the trade balance for this economy? NX = $ Billion b. What is the GDP for this economy? GDP = $ BillionU.S. net export spending falls when? the inflation rate is lower in the United States relative to other countries. the price level in the United States falls relative to the price level in other countries. the value of the U.S. dollar decreases relative to other Currencies. the growth rate of U.S. GDP is faster than the growth rate of GDP in other countries.Consider a country in which for goods (A, B, C, and D) are produced. The following table shows data for prices and quantities produced for three years. Production Price per unit Q1 Q2 Q3 P1 P2 P3 Good A 45 40 42 10 8 8 Good B 52 55 54 12 10 12 Good C 14 17 18 6 10 11 Good D 29 28 30 15 17 19 a. 1425 b. 1615 c. 1593 d. 2015 Nominal GDP for year 1 is equal to:
