|- Plot the following hypothetical market demand and supply schedules for commodity X. Use graphing paper or a clean sheet of paper. Price Quantity Supplied Quantity Demanded (Units) (Peso) (Units) P 30.00 900 150 25.00 800 300 20.00 700 350 15.00 600 600 400 10.00 800 5.00 200 1000 Eq = Ep =
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- You are given the following information about an economy: $millionsGDP at Market Prices 1,669.4Imports 290.5Gross Domestic Capital Formation 48.7Income accruing to the Public Sector 39.0Retained Business Earnings 75.9Exports 273.4Subsidies 16.8Factor Payments from Abroad 10.0Capital Consumption Allowance…During 2020, Nation Z produced only 10 goods. Goods A, B C, D and E are intermediate goods. Goods F, G, H, I and I are final goods. The intermediate goods (A, B, C, D and E) are used in the production of the final goods (F, G, H, I and J). The quantities produced and sold of each good in 2019 are as follows: QA= 50 units; Q8= 40 units; Qc= 60 units; Qu= 70 units; Qe= 30 units; Q:= 40 units; QG= 60 units; Qu= 50 units; Q = 30 units; Q = 70 units. The 2019 market prices of each good are as follows: PA= 200; Ps= 300; Pe= 600; P = 50; Pe= 40; P= 300; Pg= 200; P = 50; P = 40€; P;= 300. Based on the above information, determine the value of nominal GDP for 2020. Thoroughly explain your answer.Explain why tourism satellite accounts are useful and give examples for direct and indirect effects (two examples for each) in tourism related field.
- All of the leather that this question refers to was produced in the US by the X Company in 2017. Please indicate whether the leather should be counted as an intermediate good or as a final good for the US in 2017. --> In 2017, X Company sold $5,000 worth of leather to amateur drummers who like to make their own drum skins. final good or intermediate good? (choose) --> In 2017, X Company sold $100,000 worth of leather to its saddle subsidiary, which used all of the leather in 2018 to make saddles. final good or intermediate good? (choose) --> In 2017, X Company sold $250,000 worth of leather to Drew Simmons Sandals and Belts (Hershey PA), which used all of the leather in 2017 to make sandals and belts. final good or intermediate good? (choose) --> In 2017, X Company sold $90,000 worth of leather to the Animal Leather Company, a Canadian firm. Animal Leather Company used the leather in the same year to make tool belts. final good or intermediate…You are given the following information about an economy: $ Millions GDP at Market Prices -1,,669.4Imports- 290.5Gross Domestic Capital Formation -48.7Income accruing to the Public Sector -39.0Retained Business Earnings -75.9Exports -273.4Subsidies -16.8Factor Payments from Abroad -10.0Capital Consumption Allowance -10.5Income Payments to Foreigners -19.2Direct Taxes -355.6Public Sector Consumption Expenditure- 490.1Indirect Taxes -297.3Transfer Payments -25.7 Derive the following:(i) National Income (ii) Net Investment (iii) Personal IncomeYou are given the following information about an economy: $ Millions GDP at Market Prices -1,,669.4Imports- 290.5Gross Domestic Capital Formation -48.7Income accruing to the Public Sector -39.0Retained Business Earnings -75.9Exports -273.4Subsidies -16.8Factor Payments from Abroad -10.0Capital Consumption Allowance -10.5Income Payments to Foreigners -19.2Direct Taxes -355.6Public Sector Consumption Expenditure- 490.1Indirect Taxes -297.3Transfer Payments -25.7 Derive the following:(iv) Disposable Income (v) Household Consumption Expenditure
- Country X $m Private Consumption Expenditure 400 Gross Fixed Capital Formation 50 Exports 100 General Government Expenditure 70 Net changes in Physical Stocks + 10 Imports 160 Indirect taxes on goods and services 65 Subsidies 25 Net property inflows from abroad 40 Net property outflows to abroad 30 Capital Consumption 40 What is the Total Domestic Expenditure (TDE) figure at market price for Country X? What is the GDP figure at factor cost for Country X? What is the NNP figure at factor cost for Country X? What is the Gross Domestic Product (GDP) figure at market price for Country X?Please give a detailed solution with an explanation. Please double-check your sources and make sure the answer is 100% correct. Make sure ALL questions are answered too.Blank Answer #1:value of all goods and services produced in the economy in the base yearcost of a given market basket of goods and servicesvalue of all goods and services produced in the economy this yearBlank Answer #2:this year's pricesthe base year's pricesBlank Answer #3:value of all goods and services produced in the economy in the base yearcost of a given market basket of goods and servicesvalue of all goods and services produced in the economy this yearBlank Answer #4:this year's pricesthe base year's pricesBlank Answer #5:produced domesticallybought by consumersSuppose an economy produces only 2 products that will also be used for directconsumption, as per the article at the end of the exam: chicken wings and donuts. Inthe second quarter of 2021 (the base period), 180,000 pounds of chicken wings wereproduced, at a value of $3.50 per pound, while in the second quarter of 2022,production of chicken wings increased to 200,000 pounds, at a value of $3.75 perpound. In the second quarter of 2021 (the base period), 85,000 donuts were producedat a value of $0.85 per donut, while in the second quarter of 2022, donut productionincreased to 100,000 donuts, each at a value of $0.95 per donut. The population inthis economy is 1000 individuals in 2022, while the number of hours worked in 2022is 5000. Also, the quantities that were produced in 2021 represent the quantities thatwere purchased by the typical household, meaning that everything that was producedwas sold.d. Solve for the amount of labor productivity in the second quarter of 2022.e. Solve for the…
- INTERNATIONAL TRADE 1. Calculate the eftects of the price change from 5 to 8 on the income of the specific factors in sectors 1and 2A Nova Scotia Company is trying to successfully enter the cranberry market in Australia. What is the GNP or GDP for entry country (Australia), Is it growing? What is the per capita income? What is the average family income? What are the income classes and distribution?Does Australia have unexploited or underused resources that can affect future wealth?National Income DeterminationThe following figures are from data on Good Island EconomyItems $mNet private investment 940Depreciation 56Compensation of employees 2 256Corporate taxes 416Personal taxes 756Personal Consumption expenditure 4 386Government purchases 3 182Indirect business taxes minus subsidies 482Payment of factor income to the rest of the world 95Corporate profits minus dividends 56Government transfer payments and interest 243Exports 855Receipts of factor income from abroad 186Imports of goods and services 385Social insurance payments 332 Required: Use the above information to answer the followingi.) Calculate for Good Island:a. Gross private investment b. Gross Domestic product c. Gross National Product d. Net National Product e. National income f. Personal Income g. Disposable Personal Income