If Nike, an American corporation, produces t-shirts in China this would O Add to China's GDP but not the US' GDP. O Add to neither U.S. GDP nor China's GDP. O Count as part of U.S. GDP since it is a U.S. corporation. O Count for both China's GDP and U.S. GDP.
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- Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category Amount (in billions) Wages and Salaries 1000Consumption 1700Investment 700Depreciation 50Government Expenditure100Taxes 300Exports 50Imports 40Income receipts from rest of the world10Income payment to rest of the world50 What are net exports for China? 4. Suppose that GDP in Japan is 1030 and then grows to 1160 (all numbers in billions)What is the growth rate of GDP in Japan?Use the following information to answer questions 5 through 15: The tables below show data on prices and quantities of Oranges and Shoes produced in China. Data for 2014Price of Oranges Quantity of Oranges Price of Shoes Quantity of Shoes0.7 200 10 270Data for 2015Price of Oranges Quantity of Oranges Price of Shoes Quantity of Shoes0.9 150 14 250Data for 2016Price of Oranges Quantity of Oranges Price of Shoes Quantity of Shoes1.4 300 15 3305. Given this data, what is the Nominal GDP in 2014?6. What is the Nominal GDP in…2.In a farway country, banana is the most important crop exported to rest of the world. Data about economic indicators for farway country are given in Table 1. Table 1: Macro Economic Indicators of Farway Country (all figures in million $) year Consumption Expenditure Investment Expenditure Government Expenditure Exports import 2012-13 100 20 50 60 70 2013-14 120 25 60 65 75 2014-15 140 30 70 65 78 2015-16 160 28 40 50 75 2016-17 165 25 30 45 75 2017-18 170 24 20 40 80 2018-19 170 20 20 35 80 In recent years, a life style change, leading to more consumption of processed food, than raw food has led to reduction in demand for Bananas for consumption. Since the manufacturing sector in FarwayCountry is not developed, the country has to import most of its processed food needs, leading to increase in imports.The Government of Farwaycountry is contemplating inviting foreign investors to establish industries to manufacture banana products such…Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category Amount (in billions) Wages and Salaries 1000 Consumption 1700 Investment 700 Depreciation 50 Government Expenditure 100 Taxes 300 Exports 50 Imports 40 Income receipts from rest of the world 10 Income payment to rest of the world 50 1. What are net exports for China? 2. Suppose that GDP in Japan is 1030 and then grows to 1160 (all numbers in billions) what is the growth rate of GDP in Japan?
- In a farway country, banana is the most important crop exported to rest of the world. Data about economic indicators for farway country are given in Table 1. Table 1: Macro Economic Indicators of Farway Country (all figures in million $) Year Consumption Expenditure Investment Expenditure Government Expenditure Exports Imports 2012-13 100 20 50 60 70 2013-14 120 25 60 65 75 2014-15 140 30 70 65 78 2015-16 160 28 40 50 75 2016-17 165 25 30 45 75 2017-18 170 24 20 40 80 2018-19 170 20 20 35 80 In recent years, a life style change, leading to more consumption of processed food, than raw food has led to reduction in demand for Bananas for consumption. Since the manufacturing sector in Farway Country is not developed, the country has to import most of its processed food needs, leading to increase in imports. The Government of Farway country is contemplating inviting foreign investors to establish industries to manufacture banana products such as candies,…Given the above graph, what are the imports and exports for this country? a- It imports 25 computers and exports 275 shoes b- It exports 25 computers and imports 275 shoes c- It imports 125 computes and exports 350 shoes d- It exports 125 computes and imports 350 shoesOften, Americans are surprised to learn that _______ of the value of U.S. consumption comes from other countries. A) about 30 percent B) about 35 percent C) about 15 percent D) about 25 percent E) about 20 percent
- Suppose that a country produces 200 million dollar value of total outputin a year. The country produces only two goods: pepperoni pizzas andbottles of soda. The price of a pepperoni pizza is $5 and the price ofa bottle of soda is $2. Draw the country’s iso-value line on a graph. Ifthe price of a pepperoni pizza increases to $8, what will happen to thecountry’s iso-value line?In what way does comparing a countrys exports to GDP reflect its degree of globalization?At one point Canadas GDP was 1,800 billion and its exports were 542 billion. What was Canadas export ratio at this time?
- You are given the following information about an economy: Gross private domestic investment = 40 Government purchases of goods and services = 30 Gross national product (GNP) = 200 Current account balance = -20 Taxes = 60 Government transfer payments to the domestic private sector = 25 Interest payments from the government to the domestic private sector = 15 (Assume all interest payments by the government go to domestic households.) Factor income received from rest of world = 7 Factor payments made to rest of world = 9 Find the following, assuming that government investment is zero: (a.) Consumption (b.) Net exports (c.) GDP (d.) Net factor payments from abroad (e.) Private saving (f.) Government saving (g.) National savingSuppose that in a year Indonesia can produce either 50 million tonnes of petrol or 20 million tonnes of iron or any linear combination, for example, 25 million tonnes of petrol and 10 million tonnes of iron. Also suppose that in a year Australia can produce either 80 million tonnes of petrol or 64 million tonnes of iron or any linear combination, for example, 20 million tonnes of petrol and 48 million tonnes of iron. e. Suppose Australia wants 30 million tonnes of petrol and Indonesia wants 20 million tonnes of petrol and as much iron as they can get. Show that Indonesia and Australia can have more iron while still meeting their petrol requirements when they specialise and trade than when they do not. 2Why is per capita gross domestic product (per capita GDP) better than gross domestic product (GDP) as a measure of a country's wealth? O Location and land mass have a large effect on GDP and must be considered in assessing a country's economy. O Because per capita GDP takes population into account, it is more useful for comparing the standard of living in different countries. O Per capita GDP provides information on income, while GDP only provides information on investment. O Per capita GDP includes the value of land, minerals, and crops not counted by normal GDP. The advantages of the sole proprietorship include O ease of start-up © full control ob business decisions © exclusive rights to profits © all of the above
