Question 1 GDP is: the value of all final goods and services produced domestically. O the value of all final goods and services produced by a government. O the value of all final good and services produced anywhere in the world by a nation's fırms. the sum of all currency and coins in circulation.
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A: Nominal GDP : Nominal GDP = Real GDP x GDP deflator
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A: GDP is gross domestic product which represents the national income of an economy.
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Q: s (67,566)
A: Gross domestic product is considered to be a measure of the market value for all the services and…
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A: GDP = consumption + investment + government expenditure + net exports
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A: Ans in step 2
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- Suppose GDP is $16 trillion, with $10 trillion coming from consumption, $2 trillion coming from gross investment, $3.5 trillion coming from government expenditures, and $500 billion coming from net exports. Also suppose that across the whole economy, depreciation (consumption of fixed capital) totals $1 trillion. From these figures, we see that net domestic product equals: a. $17.0 trillion. b. $16.0 trillion. c. $15.5 trillion. d. None of the above.Suppose that net national product in 2018 was $50 billion and depreciation was $15 billion. Gross national product in 2018 was: $35 billion -$35 billion $65 billion $55 billionNational income means the value of goods and services produced by a country during a financial year. Thus, it is the net result of all economic activities of any country during a period of one year and is valued in terms of money. Discuss the relevance of the national accounts to the economy of Ghana supported by specific examples?
- During the year, suppose a country's total purchases of newly produced capital goods is $2,000 billion, it issues $1,600 billion of stock certificates, and has $500 billion in depreciation. Gross investment in this country equals A. $4,100 billion. B. $2,100 billion. C. $3,600 billion. D. $2,000 billion. E. $2,500 billion.Between the start of 2012 and the start of 2013, a country’s economic growth rate was 4 percent. Its population did not change during the year, nor did its price level. What was the rate of increase of the country’s nominal GDP during this one-year interval? QSuppose that this year a small country has a GDP of $100 billion. Also assume that Ig = $30 billion, C = $60 billion, and Xn = − $10 billion. What is the value of G? $30 billion $0 $10 billion $20 billion
- For a hypothetical economy in a given year, GDP was $10,000, consumption equaled $ 9,800, government spending equaled $125, goods exported equaled $250, and goods imported equaled $500. What was investment equal to? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.U.S. net export spending falls when? the inflation rate is lower in the United States relative to other countries. the price level in the United States falls relative to the price level in other countries. the value of the U.S. dollar decreases relative to other Currencies. the growth rate of U.S. GDP is faster than the growth rate of GDP in other countries.Only typed answer Describe the concept of Real Gross Domestic Product. Why is Real GDP a better measure to compare output across years than Nominal GDP?
- What is the value of year 2's output in real dollars?In the base year, a country produced 50 units of output at a price of R6,00 each for a nominal GDP of R300. This year it produces 60 units of output at a price of R8,00 each. What is the percentage change in real GDP since the base year?(a) 5%;(b) 10%;(c) 20%;(d) 15%.The total value of all final goods and services, measured in current market prices, is given by Question 9 options: a) nominal GDP b) total final product c) total domestic product d) real GDP