instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sig front of those numbers. a. Consumption = $707000 b. Investment = $2600000. c. Government purchases $ [800000 d. Net exports $200000.
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- Please help with questions D & E: Consider an economy that produces and consumes shoes and houses. In the table below are data for two different users. 2000 2001 Price of a house $120,000 $145,000 Number of houses produced 1000 1050 Price of a pair of shoe $150 $170 Number of pairs of shoes produced 650,000 525,000 Year 2000 Year 2001 Price of a house $120,000 Price of a pair of shoes $150, $170 Number of houses produced 1,000 Number of pairs of shoes 650,000, 525,000 (a) What is the Consumer Price Index (CPI)? (b) Calculate the CPI for both years. (c) Calculate the rate of inflation for 2001 using the CPI. (d) Calculate the GDP deflator for both years. (e) Calculate the rate of inflation for 2001 using the GDP deflator. Please help with questions D & E only.Please help with questions D & E: Consider an economy that produces and consumes shoes and houses. In the table below are data for two different users. 2000 2001 Price of a house $120,000 $145,000 Number of houses produced 1000 1050 Price of a pair of shoe $150 $170 Number of pairs of shoes produced 650,000 525,000 Year 2000 Year 2001 Price of a house $120,000 Price of a pair of shoes $150, $170 Number of houses produced 1,000 Number of pairs of shoes 650,000, 525,000 (a) What is the Consumer Price Index (CPI)? (b) Calculate the CPI for both years. (c) Calculate the rate of inflation for 2001 using the CPI. (d) Calculate the GDP deflator for both years. (e) Calculate the rate of inflation for 2001 using the GDP deflator.Intermediate vs. Final Goods For each blank place either an “I” if the scenario is an intermediate good, or an “F” if it is a final good. 1) Shampoo is bought and used by a hair stylist in the mall. 2) A family buys some finger paint for their child to use. 3) A person buys a tire to replace to flat one on their car. 4) A hotel chain buys a box of pens. 5) Flour is bought and used to bake a cake to be sold at a bakery. 6) Someone buys a steak to grill at home. 7) An accounting firm buys calculators for its accountants. 8) A person buys shampoo to use at home. 9) Flour is bought and used to bake a cake for a birthday. 10) A student buys a pack of pens to do their homework. 11) A restaurant prepares a steak for its customers. 12) A factory buys tires to place on their cars. 13) An artist buys paints for a painting, with the intention of keeping it. 14) A calculator is bought and used for…
- Construct the cost-of-living index number for 2020 on the basis of 2018 from the given data. Advice a donor agency on what course action to take if the information is meant to help them make a decision on some food stipend being for a social protection program in Kenya. Commodities PRICE Weights 2018 2020 A 200 400 50 B 200 350 40 C 100 150 65 D 80 120 45 E 60 180 20 F 90 157.5 60 G 300 585 100 b. The average prices and quantities of six items grown in Nakuru County are shown in the following table: 2020 2021 Items Price (Kshs/Kg) Quantity (Kg,000) Price (Kshs/Kg) Quantity (Kg,000) Pineapples(A) 10 6 14 8 Oranges(B) 10 8 15 14 Bananas(C) 15 8 20 16 Beans(D) 30 12 25 20 Wheat(E) 40 15 60 21 Millet(F) 50 10 80 16 Using 2020 as base year, compute Kelly’s and Fishers Price index numbers…Which of the following is NOT accounted in the expenditure approach? a. Food b. Furniture c. Used cars d. EducationQuestion 1 (AV7.1) You have been employed as the chief economist for the economy SKL Land. The head statistician has provided you with the following information: Compensation of Employees 900 Consumption of goods 850 Corporate profits 400 Rent Income 125 Factor income paid to the world 325 Consumption of services 475 Factor Income received from the world 170 Residential investments 350 Indirect taxes 775 Non-residential investments 525 Subsidies 125 Government Expenditure 925 Depreciation 120 Imports 700 Net interest 75 Exports 300 Proprietors income 300 Calculate SKL Land’s GDP using (1) the Income and (2) the Expenditure Approach
- Hey! Need help with the following question, thank you in advance! Question: The following table (attatched) lists 2015 GDP per capita for four countries. The data are given in the national currencies of the countries. It also lists the price of a Big Mac burger in the local currency of each country in 2015. The price of a Big Mac in the United States in 2015 was $4.79. Using the Big Mac burger as a representative commodity common to the countries, calculate the PPP-adjustment factor for each country, and then the PPP level of per capita GDP in each country.Imagine that a hypothetical economy produces three items food, clothes and Aluminum and a typical consumer buys food and clothing only. The table below shows the hypothetical results.Question 2 Consider an economy that produces and consumes shoes and houses. In the table below are data for two different users. 2000 2001 Price of a house $120,000 $145,000 Number of houses produced 1000 1050 Price of a pair of shoe $150 $170 Number of pairs of shoes produced 650,000 525,000 Year 2000 Year 2001 Price of a house $120,000 Price of a pair of shoes $150 $170 Number of houses produced 1,000 Number of pairs of shoes 650,000 525,000 (d) Calculate the GDP deflator for both years. (e) Calculate the rate of inflation for 2001 using the GDP deflator.
- Which of the following is not a micro-economic variable?[A] Demand of a commodity[B] Supply of a commodity[C] Price rise of a commodity[D] Employment generated in a year in a countryEconomy can be represented by economic models. One of the models we use to understand economy is a “Circular Flow Diagram”. Sketch a Circular flow model and explain the flow of money and flow of goods and services and factors of production caused by the following activities. i. Kaleem pays a shopkeeper Rs.150 for a liter of milk. ii. Mustaqeem while working at a fast-food restaurant earns Rs.500 per hour. iii. Sana spends Rs.500 on a haircut. iv. Mustafa receives Rs.200,000 from his 10 percent ownership of Salman Chemicals Ltd.Households play a role in the circular flow of goods by: A. providing natural resources to businesses.B. designing and producing new goods.C. selling goods that companies produce.D. purchasing goods at product markets.