Q.2. John a farmer sells tomatoes to Joseph the tomato sauce manufacturer for K350 . Joseph makes three bottles of tomato sauce , each of which has a market price of K700 . Japhen buys one of them , while the other two remain on the shelf of Joseph's Shop to be sold later . What is the value of GDP ?

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A: Gross Domestic Product (GDP): Gross domestic product (GDP) is the total monetary or market value of…

Q: What are the four components of Gross Domestic Product (GDP) in formula format? List and explain…

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A: GDP stands for Gross Domestic Product. It is the market value of all final goods and services…

Q: What is the largest component (C, I, G, or NX) of GDP? Give an example of each component.

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A: Gross domestic product (GDP) is the monetary value of all goods and services produced within the…

Q: Which of the following are included in GDP, and which are not? a. The cost of hospital stays b. The…

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Q: You just bought an old car a couple years ago for $1,000 and put about $5,000 of parts and labor…

A: Secondhand goods, such as used cars, are excluded from GDP calculations.  When these things were…

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Q: An economy produces two goods: hot dogs and burgers.  In 2014, 15 hot dogs are produced at a price…

A:

Q: Suppose a country makes only bread and fish. They make 10 bread for $5 per bread and 20 fish for $2…

A: Output is the amount, either utilized or employed for more manufacturing, of products or services…

Q: Which of the following items are included in GDP? For those items not included, explain why they are…

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A: GDP refers to the market value of all the final goods and services produced in an economy during an…

Q: What component(s) of GDP (if any) would each of the following transactions affect? Explain. 1. A…

A: Note- Since you have posted a question with multiple subparts, we will solve the first three…

Q: What is Gross National Income and give some examples

A: Gross national income is the sum of GDP and net factor income.

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Q: Briefly explain the three primary uses of GDP data.

A: GDP= C +I + G + NX where:C=Consumption G=Government spending I=Investment NX=Net exports​

Q: The factor payments measure of GDP

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Q: value added" and how it can be used to calculate GDP

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Q: Given the following: consumption = 430, investment = 300, government expenditure = 150 and net…

A: Economy's GDP is calculated by = Consumption + Investment + Government expenditure + Net export

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Q: Which of the following items are included in GDP? For those items not included, explain why they are…

A: GDP (Gross Domestic Product) measures the final value of all goods and services in an economy during…

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A: Gross domestic product is the market value of all goods and services produced in the economy in a…

Q: What activity is not included in the GDP? Emily cooked some soup for the customers in the restaurant…

A: The abbreviation "GDP" refers to the "Gross Domestic Product," which is the total monetary value of…

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

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A: Gross Domestic Product (GDP) is the value of the final goods and services produced in an economy in…