If consumption expenditure is $30 billion, investment spending is $15 billion, government spending is $12 billion, exports are $4 billion and imports $5 billion, GDP will be

Q: base on the data given construct the graph for GDP at current prices, manufacturing and wholesales…

A: Gross domestic product is the sum total of the money value of goods and services produced in an…

Q: What are the four components of Gross Domestic Product (GDP) in formula format? List and explain…

A: Gross Domestic Product denotes the total aggregate output that is produced in the country at a given…

Q: Given the following: Ca = $450, Ig = $250, Xn = − $10, and G = $30, what is the economy’s…

A: Equilibrium GDP is given by the aggregate of Consumption, Investment, Government Expenditure.

Q: components of GDP using the expenditure approach.

A: The expenditure approach to calculating gross domestics products for the nation, or GDP, uses these…

Q: In 2017, $1000 worth of shirts are produced by Calvin Klein. That same year, $700 worth of shirts…

A: Consumption is a positive function of income. If income rises by 1 unit, consumption rises by less…

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: 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: In a two-sector economy, Aggregate Expenditure (AE) equals

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

Q: Here is what we know about a household: wages $25,000, unemployment insurance benefits $3,000,…

A: The expenditure way to deal with computing GDP (GDP) considers the amount of every last great and…

Q: The Happy Land is an isolated island with three sectors: agriculture, manufacturing, and services.…

A: GDP: Gross domestic product can be determined by including money spent by purchasers, organizations,…

Q: The following table gives data for a small country, Magnolia: Use the data to calculate GDP for…

A: National Income refers to the total income that is derived from the economic activities in a…

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: For the purpose of calculating GDP, investment is spending on real estate and financial assets such…

A: GDP is the sum total of market value of final goods and services produced in a country during a…

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: GDP accounting, which of the following is not counted as investment spending?

A: Investment spending component in the GDP includes  1) purchase of capital goods like business…

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

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: Explain difference between GDP and GNP. Support your answer with simple examples from Oman economy.

A: GDP tells us the value(total) of the finished domestic g&s(goods & services) during a…

Q: Given the following: Ca = $500, Ig = $250, Xn = − $10, and G = $30, what is the economy’s…

A: Consumption = $500 Investment = $250  Net export = -$10 Government expenditure = $30

Q: Define GDP. Identify the four components of GDP, used by government economists, when using the…

A: GDP: The gross domestic product i.e. GDP is the value of all finished goods and services or products…

Q: consider the following hypothetical economy. Consumption makes of 60% of national income,…

A: Given consumption is 60% of national income implies that C=0.6Y, where C is consumption and Y is…

Q: You are given the following information about an economy. C=20+0.8(Y-T) 1=100 G=520 T=0.25Y and…

A: Equilibrium GDP is denoted to be as that level of the output whose certain level of the production…

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: Given the following: Ca = $100, Ig = $50, Xn = − $10, and G = $30, what is the economy’s equilibrium…

A: GDP = C + I + G + NX  C - Consumption  I - Investment  G - Government expenditure  NX - Net export…

Q: Explain difference between GDP and GNP. Support your answer with simple examples from Oman economy.

A: GDP - Gross domestic product. GNP - Gross national product. Both are methods of national income…

Q: If national income is $5,000 billion and disposable income is $4,000 billion, then what is personal…

A: Given: National Income (Y) = $5,000 billion Disposable income(Yd) = $4,000 billion We know,…

Q: The figure shows the flows of expenditure and income on Lotus Island. In 2016, R was $7 billion; W…

A: We know that, Total Expenditure- C+I+G+NX Here, C= W, I= J, G=U and NX= Z So, Total Expenditure = W…

Q: Discuss why many argue that GDP is not a good measure of economic well-being of society.

A: The gross domestic product (GDP) is the standard measure of value-added produced during a certain…

Q: Given the following: Ca = $100, Ig = $50, Xn = − $10, and G = $30, what is the economy’s equilibrium…

A: GDP = C + I + G + NX  C - Consumption  I - Investment  G - Government expenditure  NX - Net export…

Q: Suppose a group of British investors finances the construction of a plant to manufacture skateboards…

A: GDP refers to the aggregate value of total output of all goods and services produced within the…

Q: explain how total output and total income are related to each other, and why they are related

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: What is total expenditure in an economy? Total expenditure is equal to expenditure ______. A. on…

A: Total expenditure in an economy is also referred to as its GDP. Total Expenditure includes…

Q: Which of the following is a shortcoming of GDP?a. GDP excludes changes in inventories.b. GDP…

A: Gross Domestic Product is the income, output and expenditure on the economy's output of commodities…

Q: Would a temporary investment tax credit for businesses or a temporary income tax cut for individuals…

A: Temporary income tax cut would influence GDP greatly.

Q: Explain which expenditure component of GDP would be affected by these transactions, if any. a. The…

A: When a citizen of a country makes transactions in a specific year on the basis of current year…

Q: Suppose that the economy has consumption $90, investment $50, government purchases $30, imports $20,…

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

Q: Suppose that an Al Khaleej Food company owned entirely by Emirati Business Group opens a new…

A: 1. If an Al Khaleej Food company owned entirely by Emirati Business Group opens a new Restaurants…

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

A: Transfer payments are not included in GDP.

Q: Calculate GDP for an economy

A: GDP is the gross domestic product. It is the calculated by adding consumption, investment,…

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: Your aunt, who lives in Royal Oak decides to buy a new, American made dress.  In GDP accounting this…

A: GDP or ‘gross domestic product’ is the value of the ‘goods & services’ that are produced within…

Q: Ben is a farmer who grows oranges. In the current year Ben produces oranges valued at $54,087, half…

A: GDP refers that Gross domestic production which means value addition of production of goods and…