nprecedented floods impacted the Australian economy in 2022. After defining the GDP, identify: One economic mechanism by which floods have increased the Australian GDP (even if they were detrimental to well-being). One economic mechanism by which floods have decreased the Australian GDP.
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Unprecedented floods impacted the Australian economy in 2022. After defining the GDP, identify:
- One economic mechanism by which floods have increased the Australian GDP (even if they were detrimental to well-being).
- One economic mechanism by which floods have decreased the Australian GDP.
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- Janet, a mother of two, decides to reduce her working hours to spend more time with her children. By itself, assuming everything else being the same, this development has necessarily resulted in a lower quality of life for Janet due to a fall in income (and resultant fall in economic activity as measured by GDP).Select all events that contribute to increase the current year’s GDP in Canada? An apple producer sells apples to an household. The government purchases newly produced books for the public schools. A firm produces a kitchen table but cannot sell it during the current year. A household purchases a newly built house. A household purchases an old house using the service of a real estate agent. None of the above.Read the following extract and answer questions?South Africa’s economy grew by 1.1% in the first quarter of the year Stats SA has published the latest gross domestic product (GDP) data covering the first quarter of the year, showing that the economy grew by 1.1% in the first three months of 2021.The growth follows a revised 1.4% rise in real GDP in the fourth quarter of 2020. On an annualised basis, theeconomy grew 4.6% quarter-on-quarter. Following confusion caused by the annualisation of GDP data in 2020 – amid the Covid-19 pandemic andresulting lockdowns – Stats SA said it would no longer use the annualised data as the headline GDP statistic. During periods of steady economic growth, annualising is a useful way of expressing quarter-on-quarterperformance in annual terms, Stats SA said. However, during periods of economic instability, annualising can be misleading, because it exaggerates growth rates that are unlikely to be repeated. Given the information about the South African…
- Capital goods are goods that will be used in the future to produce more goods and services. Group of answer choices True False B. GDP includes the value of all new final goods produced by American companies, regardless of where the company is located. Group of answer choices True False C. Which of the following is an example of a durable good? Group of answer choices gasoline a televisionPart of a bridge built by the government of Ritzland collapsed in the same year it was constructed. If the total cost of building the bridge was $4 million, and then it costs $3 million to repair it, which of the following will happen in this scenario, everything else remaining unchanged? Ritzland's GDP will decrease by $4 million. Ritzland's GDP will increase by $3 million. Ritzland's GDP will increase by $7 million. Ritzland's GDP will increase by $1 millionWhich of the following will likely lead to an increase in real GDP in the U.S. Group of answer choices The U.S. begins a new war in the middle east A massive hurricane destroys homes and infrastructure in the Eastern US The growing student debt burden forces American households to begin working twice as many hours each week all of the above Many people believe that GDP is not a good indicator of economics success or standard of living because Group of answer choices GDP doesn't tell us anything about the distribution of income GDP doesn't include leisure time as a good GDP does not account for "bads" like pollution all of the above
- To measure the vital signs - or indicators of the strengths or weaknesses of an economy include factors other than the GDP. Below is a list of such additional economic indicators that also measure the strength of an economy. But ONE of the items listed is NOT an economic indicator that helps us assess the economic condition of the economy. Which one of the below IS NOT an economic indicator of the strength of an economy? Group of answer choices Relatively lower income inequality. Heavy government controls and large government spending. The lower percentage of people living below the poverty rate. Lower unemployment rate.Based on this definition, indicate which of the transactions in the following table will be included in (that is, directly increase) the GDP of the United States in 2019.An economist keeps an eye on basic facts, summary statistics, and economic indicators in order to monitor the general health of the economy. This scenario most closely aligns with which of the following goals of data analysis? Describing the economy Predicting the future Testing hypotheses Quantifying relationships
- Select all events that contribute to increase the current year’s GDP in Canada? A household purchases lumbers produced during the current year to renovate his house. The government purchases meals in a restaurant for its ministers. A household purchases a newly built house. The government builds a new road. An individual gets a haircut. None of the above.Which of the following would cause the value of a nation's GDP to increase in a given year? An increase in the sale of illegal goods in the economy An increase in the sale of used cars More people choose to stay at home to raise their children rather than using paid childcare Households spend more on domestic air travelexamine the relationship between total spending by government and consumers in a nation and the location of the countries’ GDP on the business cycle.
