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Final goods and services
a. Are only foods and services consumed by people
b. Are goods and services tht are produced by firms, not individuals
c. Include capital and investories
d. Do not include inventories but include capital
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- Investment in everyday life is: a. The purchase of goods and services b. The purchase of capital equipment and structures c. When we place our savings in the bank d. The purchase of stock and bondsOne of the following best explains consumption spending Select one: a. Spending on final consumer goods b. Spending on capital goods c. None of the option are correct d. Spending on infrastructurehow to find gross investment in the economy? is it correct if i add Net investment to Capital Consumption? Gross Investment = Net investment + Capital Consumption
- Gross domestic product measures the total expenditure on the economy’s input of goods and services. Select one: a. False b. TrueThe three ways of measuring Gross Domestic Product are the __________ approach, the ________ approach, and the __________ approach. 3 Select one: a. real GDP, nominal GDP, potential GDP b. income, expenditure, value-added c. expenditure, income, real GDPAn economy produces final goods and serviceswith a market value of $5,000 billion in a givenyear, but only $4,500 billion worth of goods andservices is sold to domestic or foreign buyers. Isthis nation’s GDP $5,000 billion or $4,500 billion?Explain your answer.
- The three ways of measuring Gross Domestic Product are the __________ approach, the ________ approach, and the __________ approach. 3 Select one: a. real GDP, nominal GDP, potential GDP b. income, expenditure, value-ad3ded c. expenditure, income, real GDPAn automobile manufacturer uses labor, capital, and a variety of intermediate goods in the production of cars. The car requires $4,000 of steel, $6,000 seats, $10,000 of electronics, $2,000 tires, $10,000 of labor, $5,000 of capital and has a 20% sales markup to consumers. a. What is the total value of intermediate goods? b. What are the total payments to factors of production? c. What is the total value of sales? d. What is the value of GDP from the sale of this car?b. Analyze how much Pakistan’s GDP and each of its components is affected by the following transactions? . i. Toyota Motors issues new shares to finance the construction of an automobile plant in Pakistan.ii. Your friend wins Rs.2 million in the lottery in Dubai iii. Rabia spends Rs.1500 to buy her husband dinner at the finest restaurant in Karachiiv. General Motors builds Rs.40 million worth of cars, but consumers only buy Rs. 38 million worth of them.v. Sadia spends 50000 on a computer to use in her editing business in Karachi. She got last year’s model on sale for a great price from a local manufacturer.
- b. Analyze how much Pakistan’s GDP and each of its components is affected by the following transactions? Explain your answers . i. Toyota Motors issues new shares to finance the construction of an automobile plant in Pakistan.ii. Your friend wins Rs.2 million in the lottery in Dubai iii. Rabia spends Rs.1500 to buy her husband dinner at the finest restaurant in Karachiiv. General Motors builds Rs.40 million worth of cars, but consumers only buy Rs. 38 million worth of them.v. Sadia spends 50000 on a computer to use in her editing business in Karachi. She got last year’s model on sale for a great price from a local manufacturer.a. What do households do in the factor market, buy or sell? A. buy B. sell b. In the Factor Market do firms buy or sell? A. buy B. sellFirm X, a designer clothing company, buys $400 worth of silk from a silk trader and $30 worth of accessories from Firm Y. Firm X makes a dress and sells it to Macy's for $900. Macy sells the dress to a customer for $1200. How much did GDP increase because of these transactions? Question 20 options: A) $1200 B) $1330 C) $2100 D) $2530
