Suppose that this year a small country has a GDP of $100 billion. Also assume that I,= $30 billion, C= $60 billion, and X, = - $10 billion. How big is G (Click to select) $10 billion $20 billion $0 $30 billion
Q: Suppose that annual output in year 1 in a 3-good economy is 3 quarts of ice cream, 1 bottle of…
A: Hey, Thank you for the question. According to our policy we can only answer 3 subparts per question.…
Q: Q2. Given the following data in 2020, calculate the country's GDP in that year. Show steps of your…
A: Investment= Purchases of capital equipment+ Purchases of structures+ Inventory accumulation…
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A: Real GDP Formula: Real GDP = Price of goods in base year * Quantity of current year
Q: Suppose that annual output in year 1 in a 3-good economy is 3 quarts of ice cream, 1 bottle of…
A: Price Item Output in years 3 Market value in year3 $5 Ice cream 3 $15 $4 Shampoo 1 $4 $3…
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A: "Since you have asked a question with multiple sub-parts, we will solve first three sub-parts for…
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A: GDP is an important macroeconomic measure of growth that is used to determine the total aggregate…
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A: It is given that In 1984, the total output was 10,000 bucket of chicken and $16/bucket of chicken In…
Q: Suppose that annual output in year 1 in a 3-good economy is 3 quarts of ice cream, 1 bottle of…
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Q: The following table shows the data for a hypothetical economy in a specific year. All figures are in…
A: This table shows the data for a hypothetical economy in a specific year . All figures are in…
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A: Given the 1st year price of good x = $1 The 1st year price of good y = $0.60
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A: Gross domestic product is a monetary measure of the market value of all the services and final goods…
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Q: If consumption is $8 billion, investments is $4 billion, government purchases are $2 billion,…
A: Government purchase denotes the certain expenditure on the economics services and the goods by body…
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A: Gross domestic product (GDP) refers to the total value of all the final goods and services that…
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A: Give Information Domestic Production = 1,000,000Price of each autos = $15,000 each
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Q: Product Price Quantity Shovels $10 50 Books $20 100 Tomatoes. $1 1000 Pizzas $15 200 Suppose a small…
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A: GDP = C + Ip + G + X - M, where Ip: Gross investment and NX = X - M Net investment = Ip -…
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A: The gross domestic product (GDP) is the standard measure of value-added produced during a certain…
Q: Suppose that this year a small country has a GDP of $100 billion. Also assume that Ig = $30 billion,…
A:
Q: Which of the following is true about real GDP? A. It is always equal to nominal GDP B. It…
A: Answer to the question is as follows:
Q: Briefly discuss five reasons why a rise in real Gross Domestic Product within a country over time…
A: The entire monetary or market worth of all finished products and services produced inside a country…
Q: For a hypothetical economy, if Nominal GDP (measured in billions of current dollars) is $5,465 and…
A: Import is the process of purchasing the products and services manufactured in another country.
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A: The circular flow of income shows how the money flows in the economy from one sector to another. The…
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A: ( I am going to answer only 4,5,6 and 7 because it is stated by student.) Economy Real GDP in year…
Q: Q.1.3 In the base year, a country produced 50 units of output at a price of R6,00 each for a nominal…
A: Gross Domestic Product or the GDP of a country is the sum total or the accumulation of the final…
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A: GDP(Y) is the value of all final goods and services produced in an economy over a given period.…
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A: Economic Growth is measured by GDP in Nominal or real terms. Nominal GDP is the market value of all…
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A: The Gross Domestic Product (GDP) measures the market value of all the final goods and services…
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A: Net output method is also known as value added method. It is used to measure value added by each…
Q: suppose a small economy produces only smart TVs. in year one, 10,000 TVs are produced and sold at a…
A: Year 1 TV produced = 10,000 Sales Price = 1000 Year 2 TV Produced = 10,000 Sales Price = 1500
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A: GDP = Consumption + Investment + Government expenditure + Net export
Q: Suppose that an Al Khaleej Food company owned entirely by Emirati Business Group opens a new…
A: 1. If an Al Khaleej Food company owned entirely by Emirati Business Group opens a new Restaurants…
Q: Suppose that in 1984 the total output in a single-good economy was 10,000 buckets of chicken. Also…
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Q: Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the…
A: Formulas: GDP Deflator = (Nominal GDP/Real GDP) * 100 Nominal GDP = Price of goods in current year *…
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A: Gross private domestic investment =$320 Imports =$40 Exports =$22 Personal consumption expenditures…
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A: Note: We will answer the first question as the exact one was not specified. Please resubmit a new…
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- Country A has export sales of 20 billion, government purchases of 1,000 billion, business investment is 50 billion, imports are 40 billion, and consumption spending is 2,000 billion. What is the dollar value of GDP?Consider a country with a consumption of $485 billion, an investment of $175 billion, government purchases of $176 billion, government transfer payments of $24 billion, exports of $19 billion and imports of $40 billion for the year 2020. What is the country's total GDP for the year 2020? Write your answer in billions of dollars.1. If imports are $2 trillion, exports are $1.9 trillion, consumption is $3.8 trillion, investment is $700 billion, and government spending is $1.1 trillion, how much is GDP? 2. If consumption is $2.5 trillion, investment is $900 billion, government spending is $700 billion, imports are $1.2 trillion and exports are $1.4 trillion, how much is GDP? Example: If GDP rises from $6 trillion in 1994 to $8 trillion in 1999 and the GDP deflator in 1999 is 110, find real GDP in 1999 and find the percentage increase in real GDP between 1994 and 1999. First, we are asked to find real GDP in 1999. To do this we divide the nominal GDP, which is $8 trillion ($8,000 billion), by the GDP deflator for 1999, which is 110. This then is multiplied by 100. Real GDP in 1999 is $7,273 billion or $7.2 trillion. To find the percent change you must find the difference of real GDP between 1999 and 1994. Change in GDP = 7,232 – 6,000 = 1,232 You then take this difference and divide it by GDP in…
- 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.Let’s figure out GDP for Robinson Crusoe (RC) stuck on a desert island Initially RC is stuck on an island without much wisdom and local knowledge. Because RC is a proper Englishman, he wants to keep records of things. In year A he catches and eats 2,000 fish valued at one dollar each, grows and eats 4,000 coconuts valued at 0.50 cents each, and makes 2 huts (housing) valued at $200 each. Now, using the following: A) If government purchases are zero and there is no trade, what is C for Crusoe? What is I? What is Y? (We are going to start using those letters as if they mean something). B) Next year, RC learns of a tribe on a nearby island who are willing to trade with him: If he gives fish, they give clams. He produces just as much fish as before (in part A) , but he trades 500 of the 2,000 fish and receives 10,000 clams valued at 5 clams per dollar. What are the NEW dollar values of: the exported fish? the imported clams? What are C, and I? What is GDP (Y) now? C) The following year,…If in some country personal consumption expenditures in a specific year are $50 billion, purchases of stocks and bonds are $30 billion, net exports are – (negative) $10 billion, government purchases are $30 billion, sales of second-hand items are $8 billion, and gross investment is $35 billion, what is the country’s GDP for the year? Select one: a. $125 billion b. $85 billion c. $95 billion d. $105 billion
- Suppose in the economy of Richlandia the GDP in 2021 was $ 150 billion. Also, assume that gross investments was $ 40 billion, personal consumption expenditure was $ 80 billion and net exports was -20 billion. What was the value of government spending in Richlandia in 2021? A. $ 0 B. $ 10 billion C. $ 50 billion D. $ 30 billionGive typing answer with explanation and conclusion In a certain country called Happyland, in the year 1988, consumption was 4,990,000 happies, investment was 1,350,900, government purchases were 2,000,500 happies, exports were 1,500,000 happies and imports were 850,000 happies. (Happies is the currency used in Happyland :)) What was the value of GDP measured in happies in Happyland in 1988? (Give answer to the nearest happy.)Suppose 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, if Nominal GDP (measured in billions of current dollars) is $5,465 and the sum of consumption, investment, and government purchases is $5,496, while exports equal $673, imports areCountry B has export sales of $40 billion, government purchases of $400 billion, business investment of $105 billion, imports of $130 billion, and consumption spending of $1,100 billion. What is the dollar value of GDP in Country B? Please answer correct calculation asap plz Please answer Don't answer by pen paper plzSuppose that an Al Khaleej Food company owned entirely by Emirati Business Group opens a new Restaurants Chain in Jordan. What sort of foreign investment would this represent? What would be the effect of this investment on Jordan GDP and on UAE GDP?
