Li Yuan is a tourist in Ghana from China. He is currently in Accra in a shop with the inscription by made in Ghana goods here. He spends $500 on Ghanaian products. Explain how the expenditure of Li affects Ghana’s GDP, and GNP?

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

A: GDP = Consumption + Investment + Government expenditure + Net export

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

A: GDP = Consumption + Investment + Government expenditure + Net export

Q: Hint: Add the amount of money spent by buyers of final goods and services. Which of the following…

A: GDP is the total final value of goods and services produced in a country during a particular period.…

Q: Compute the economy's GDP using the expenditure approach. Assume that all transactions are 2019.

A: Given, Hector spent for the maintenance of his car P 70,000 per month will be considered…

Q: The Bahamas is a group of islands whose economy relies heavily on tourism. The majority of the…

A: The Gross Domestic Product is the summation of the money value of all the final goods and services…

Q: In an economy,  MPC = 0.81 Calculate the value of MPS

A: The information being given is the value of Marginal propensity to consume is 0.81  We have to…

Q: The rise in consumption is by $590 and the rise in income is by $700 Calculate MPC

A: The information given is as follows:- Change in Consumption = $590 ( positive )  Change in income =…

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: Compute the economy's GDP using the expenditure approach. Assume that all transactions are 2019. C…

A: Hector spent for the maintenance of his car P 70,000 per month will be considered  Consumption  = P…

Q: PROBLEMS AND APPLICATIONS 1. What components of GDP (if any) would each of the following…

A: Hi, thank you for the question. As per our Honor code, we can attempt only one question. If you want…

Q: Toyota to Shift U.S. Manufacturing Efforts Toyota announced it planned to adjust its U.S.…

A: The gross domestic product(GDP) refers to the market value of final commodities(goods and services)…

Q: Increase in Included in GDP $(Dollars) Scenario Edison pays a carpenter to build a deck for $48,000.…

A: a)Edison pays the carpenter would be a part of GDP as this is for his consumption. So the GDP would…

Q: The figure shows the flows of expenditure and income in an economy. In 2013, Uwas $1.0 trillion,…

A: We are given that U (G) = 1 trillion (Government spending)  V = 2.5 trillion ( Private Saving) W or…

Q: List, and describe, 3 shortcomings of using GDP as a measure of the health of the economy. Look at…

A: GDP is widely used in many nations to measure the health of economy but there is a lot of…

Q: An equation for Aggregate Expenditure is: AE = $3600 0.8Y, In equilibrium, Income 'Y' = Aggregate…

A: Given:

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: Compute the economy's GDP using the expenditure approach. Assume that all transactions are 2019. C G…

A: GDP = consumption expenditure + investment expenditure + government expenditure + net exports

Q: Calculate consumption expenditure given that:- APC = 0.16 Income = $5000

A: The data presented in the question above is:- Average propensity to consume = 0.16   Income = $5000…

Q: A farmer grows a bushel of wheat and sells it to a Miller for $20.00. The Miller turns the wheat…

A: Since you have asked multiple subparts, we would solve the first three for you. To get the remaining…

Q: farmer grows a bushel of wheat and sells it to a Miller for $20.00. The Miller turns the wheat into…

A: a. GDP refers to the money value of all final goods and services that are produced within the…

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: Compute the economy's GDP using the expenditure approach. Assume that all transactions are 2019. C G…

A: GDP = consumption expenditure + investment expenditure + government expenditure + net exports

Q: Suppose that GDP was $250 bllion in year 1 and that all other components of expenditures remalned…

A: Gross Domestic Product or GDP is a statistical measure used to calculate the total money value of…

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: When C + lg = GDP in a private closed economy, S = lg and there are no unplanned changes in…

A: Answer   A.True

Q: A farmer grows wheat, which she sells to a miller for $100. The miller turns the wheat into flour,…

A: (a)GDP can be depicted as the final market value of all the finished goods & services in an…

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: It is the year 2020. Natalie purchases a home that was built in 2020. In GDP accounting, this…

A: Natalie purchases a new home in 2020.

Q: Why do we calculate GDP using the expenditure approach

A: GDP: It means the market value of all final goods and services that are produced within a country…

Q: What components of GDP (if any) would each of thefollowing transactions affect? Explain.a. Uncle…

A: NOTE: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: Explain briefly whether each of the following would cause GDP to overstate or understate the degree…

A: The total monetary or market value of all finished goods and services produced within a country's…

Q: Years ago, Ricky paid $500 for CDs to put together a collection. Today, he sold his CDs for $200.…

A: This question here is discussing about GDP which stands for Gross domestic product and imply that it…

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

A: Since we only answer up to 3 sub-parts we will answer the first 3. Please resubmit the question…

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

A: GDP = Consumption + Investment + Government expenditure + net export

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

A: Equilibrium GDP (Y): when an economy or business has an equal amount of production and market…

Q: Angus the sheep farmer sells wool to Barnaby theknitter for $20. Barnaby makes two sweaters, eachof…

A: Gross Domestic Product or GDP refers to the market value of all the final goods and services…

Q: ponents of GDP (if any) would each of the following ns affect? (with the expenditure approach) ge…

A:

Q: Calculate GDP using the Expenditure Approach. (all figures are in billions of dollars):

A: GDP Through Expenditure Method : GDP = C+I+G+XM GDP = 6,739.4 + 688.2 + 1,721.6 + (1,096.3 -…

Q: ato flour and then sells it to a Baker for $25.00. The Baker uses the flour to bake bread and sells…

A: a. GDP: The GDP or Gross Domestic Product can be defined as the total income of the country. GDP…

Q: etermining GDP by the expenditures method, it is appropriate to use net investment Pather Mall…

A: Answer in step 2

Q: а. Calculate Jupiter's aggregate expenditure. b. Calculate Jupiter's net exports. c. Calculate…

A: Expenditure aggregate is the total of all the expenses that will be undertaken in an economy by the…

Q: A farmer sells cucumbers to a food processor for $1.50 per pound. The food processor makes the…

A: GDP measures the market value of all final goods and services produced within an economy in a given…