Refer to the graph, a shift from AS3 to AS2 might be caused by an increase in: AS3 AS, AS2 Real Domestic Output, GDP O business taxes and government regulation. the prices of imported resources. the prices of domestic resources. productivity. the prices of assets.
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- “The total demand for goods and services consists of consumption demand,investment demand, government demand and net exports.” In terms of thisstatement, discuss the three sets of demand factors that can lead to economicgrowth.Use the information in the table below to answer GDP at market prices R397bnNet primary income payments to the rest ofthe worldR37bnIndirect taxes R23bnSubsidies R11bn Q.3.2 Calculate the value of net national product (NNI) at market pricesIf there is excess demand for goods and services in the economy at the current price level, then the: If there is excess demand for goods and services in the economy at the current price level, then the: A. price level will remain the same B. GDP will fall C. price level will increase D. price level will decrease
- Use the information in the table below to answer this question:GDP at market prices R397bnNet primary income payments to the rest ofthe worldR37bnIndirect taxes R23bnSubsidies R11bn Calculate the value of gross national income (GNI) at market prices.Using this, can you then solve for the, National income Personal income Disposable personal incomeUse the information in the table below to answer:GDP at market prices R397bnNet primary income payments to the rest ofthe worldR37bnIndirect taxes R23bnSubsidies R11bn20 2020Consumption of fixed capital R32bn Calculate the value of net national income (NNI) at factor cost.
- Use the information in the table below to answer GDP at market prices =$397bnNet primary income payments to the rest of the world=$37bnIndirect taxes= $23bnSubsidies =$11bn Consumption of fixed capital= $32bnCalculate the value of gross national income (GNI) at market prices. Calculate the value of the net national product (NNI) at market prices. Calculate the value of net national income (NNI) at factor cost.The following graph shows three total expenditure lines for an economy at three different price levels. AE130 corresponds to the price level of 130; AE110 corresponds to the price level of 110; AE150 corresponds to the price level of 150. The black line (which starts in the bottom left corner) is a 45-degree line illustrating the set of points for which real GDP and total expenditure are equal. 1. What is the level of equilibrium output at a price level of 110 is what? (First picture) 2. Plot aggregate demand curve in second pictureAn economy has the potential to produce $230 billion worth of goods and services. Government economists estimate the economy is actually producing $196 billion worth of goods and services. What is the GDP gap for this economy.
- Is it true that the value of U.S. imports is added to exports when calculating U.S. GDP because imports reflect spending by Americans? Explain.Use the information in the table below to answer Q.3.1 to Q.3.3:GDP at market prices R397bnNet primary income payments to the rest ofthe worldR37bnIndirect taxes R23bnSubsidies R11bnConsumption of fixed capital R32bn Q.3.2 Calculate the value of net national product (NNI) at market prices.Consider the following hypothetical data for the U.S. economy in 2018 (all amounts are in trillions of dollars; see pages 179–182).Consumption 11.0 Indirect business taxes .8 Depreciation 1.3 Government spending 3.8 Imports 2.7 Gross private domestic investment 4.0 Exports 2.5e. Based on the data, what is GDP? NDP? NI?f. Suppose that in 2019, exports fall to $2.3 trillion, imports rise to $2.85 trillion, and gross private domestic investment falls to $3.25 trillion. What will GDP be in 2019, assuming that other values do not change between 2018 and 2019?