If a real estate agent sells a house for 364,217 dollars that the previous owners had bought 13 years earlier for 194,546 and earns a commission of 9,348 dollars on the sale, by how many dollars did GDP increase?

Q: Hence calculate to one decimal place the percentage change in the GDP deflator between period 1 and…

A: The formula for GDP Deflator is GDP Deflator = (Nominal GDP/Real GDP) * 100 Percentage in GDP…

Q: Write a short note on the circular flow of income for three sector economy. From the circular flow…

A: The economies around the world tend to work on the basis of the expenditures which are done by…

Q: Q2. Assume that a Kia automobiles dealership in Mehrauli, Gurugram transshipped 300 Kia Sonet cars…

A: Expenditure method of GDP : Y = C + I  + G + ( X- M)  A) In September 300 Kia each worth 13 lakh was…

Q: the percentage change in the cost of a fixed basket of goods from month to month. the percentage…

A: Inflation rate is the rate of increase in prices of goods and services that are sold in the economy.…

Q: he term "full employment  GDP" is synonymous with which of the following

A: At macroeconomic equilibrium, quantity demanded of Real GDP is equal to quantity supplied of Real…

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: Arthur sells $100 worth of cotton to Bob. Bob turns the cotton into cloth, which he sells to Camille…

A: Gross domestic product is the sum of value of final goods and services produced in the economy…

Q: Which one of these items will not be a part of the current year’s GDP? a. Spending of the…

A: Current years GDP refers to the total market value of goods and services produced in the current…

Q: Identify the contribution to this year's GDP by entering a numerical value. Do not enter dollar…

A: GDP refers that Gross domestic product which means that cost of production of goods and services by…

Q: a small dairy produces and sells milk generating 431000 in annual revenue. the dairy previously…

A: GDP: GDP or gross domestic product is the final value of all the goods and services that are…

Q: If nominal GDP rises from $100 trillion to 20 trillion, while the GDP deflator rises from 2.0 2.2,…

A: Real GDP is used to compute economic growth. The percentage change in real GDP is the GDP growth…

Q: Which of the following WOULD be counted in GDP? Baking a cake for a family gathering Buying some…

A: GDP stands for Gross Domestic Product of the economy. It is the final value of goods and service…

Q: The local government issues bonds to pay for road repair projects. If josue buys some of these…

A: The bonds issued by the local government would be fresh bonds and not traded in the market.…

Q: Which of the following would be counted in U.S. GDP?                           (objective B3)…

A: GDP refers to the market value of all the goods and services produced in the country at a specific…

Q: Which of the following items is included in thecalculation of GDP?a. Purchase of 100 shares of…

A: Production means producing goods and services by using raw materials in such a way that productivity…

Q: Arthur sells $100 worth of cotton to Bob. Bob turns the cotton Into cloth, which he sells to Camille…

A: In an economy, value added method is one of the way to compute the overal income or contribution of…

Q: Explain concisely whether the following statement is true or false: “The GDP of a country does…

A: Answer: The given statement is false. Explanation: GDP (gross domestic product): GDP refers to the…

Q: The quantity of final goods and services produced during an accounting year is 3500 and the prices…

A: As per the question Quantity of the final goods = 3500 Prices are = 2500 NOMINAL GDP = ?

Q: Consider the following production chain for petrol. Assume that a Oil driller extracts crude oil,…

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

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

A:

Q: One of the shortcomings of GDP is that it: a. excludes non-market activities b. excludes the value…

A: GDP is the market value of final goods and services produced within a country during an accounting…

Q: Identify the effect on GDP due to the following factors. Factors Effect on GDP An improvement in…

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

Q: For each of the following examples, state if you think it is included in the 2010 calculation for…

A: GDP (Gross Domestic Product) measures the market value of all final good and services produced in an…

Q: 23. Which of the following would be considered a final good or service in the calculation of GDP?…

A: GDP stands for Gross Domestic Product. It is the market value of all final goods and services…

Q: Q.1.5 The value of the nominal GDP in 2019 is: (1) R1 530. (2) R1 045. (3) R2 880. (4) R3 490.

A: GDP measures the total aggregate output that is produced in an economy at a given period of time.…

Q: GDP at market prices R397bn Net primary income payments to the rest of the world R37bn Indirect…

A: Given, GDPMP = R397bn Net primary income payments to the rest of the world = R37bn Indirect taxes =…

Q: Show how gross national product (GNI) can be derived from gross domestic product (GDP).

A: Note: The second question mentioned in the picture is derivation of GNP from GDP.  2. Gross Domestic…

Q: If South Africa’s GDP is greater than its GNI, then the income earned by foreign owners of companies…

A: Option (A).

Q: Indicate whether each of the following actions or impacts would increase GDP a.    An individual…

A: GDP is the money value of all finished goods and services produced within a country during a…

Q: You just bought an old car a couple years ago for $1,000 and put about $5,000 of parts and labor…

A: Secondhand goods, such as used cars, are excluded from GDP calculations.  When these things were…

Q: AWhich of the following expenditures associated with the production of a new Tesla Model 3 will be…

A: GDP refers to gross domestic product which is sum of value of all goods and services produced in a…

Q: Say the GDP of a country is $100. To this foreign nationals' contribution is $5. Government gives $2…

A: Personal Income = National Income – Indirect business taxes – Corporate income taxes – Undistributed…

Q: A mining company acquires new government licenses to drill in land the company already owns.    Is…

A: Yes. If a mining company acquires new government licenses to drill in land the company already owns.…

Q: Derive the following: (i) National Income (ii) Net Investment Personal Income Disposable Income…

A:

Q: indirect business taxes and capital consumption allowance are not income, yet they are included in…

A: Tax is one of the biggest sources for government revenue through which government meets its…

Q: Holly has recently graduated from college and has bought a house that was built 50 years ago for…

A: GDP can be understood as the final value of goods and services produced in an economy during a year.…

Q: Assume an economy where there are 2 producers: A Wheat Producer and a Bread Producer. In a given…

A: Product ApproachThere are two producers in the economy. One produces wheat and other produce bread.…

Q: GDP at market prices R397bn Net primary income payments to the rest of the world R37bn Indirect…

A: The gross domestic product of an economy is the monetary value of all final goods and services…

Q: "An economy produces final goods and services with a market value of $5,000 billion in a given year,…

A: GDP is the final value of goods and services produced in an economy in one year. Market value of…

Q: The Wakandan GDP for the year 2040 was $87,000. Government expenditures were $29,000 and investment…

A: GDP =Y Y= C+I+G+NX

Q: Describe marilyn waring's assessment of gross domestic product as a measure of economic activity

A: Solution:- She has been outspoken in her criticism of the idea of gross domestic product (GDP), the…

Q: Suppose a Farmer produces wheat and sells it for $2,000 to flour Mill. Flour Mill converts it flour…

A: Gross Domestic Product is the money related estimation of all finished goods and services made…

Q: The 2017 U.S. gross domestic product (GDP) was valued at 19,390,604,000 dollars. How many Gateway…

A: Gross Domestic Product Gross domestic product estimates the value of all finished goods and services…

Q: You are given the following data. Calculate GNP and GDP at factor cost.   GNPMP 600 Indirect…

A: Given, GNPMP= 600GDPMP=GNPMP- Net factor income from abroadGDPMP = 600 - 100GDPMP = 500

Q: Which of the following are excluded from real GDP? A. The value of non-market services performed by…

A: The GDP refers to the production of goods and services during an accounting year. GDP does not…

Q: A Chinese restaurant buys 100 cups of rice for a total of $10; they buy soy, fish and oyster sauces…

A: Gross domestic product is the value of all the final goods and services produced in the country in a…