Suppose the Canadian economy is currently at point K as shown in the diagram above. Explain briefly two events that could cause it to move to point N.
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4. d
Suppose the Canadian economy is currently at point K as shown in the diagram above. Explain briefly two events that could cause it to move to point N.
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- Gross domestic product (GDP) is a measurement of the total value of all goods and services produced in the United States over a given time period. It is used by economists, government officials, market forecasters and others to gauge the overall health of the U.S. economy. How do consumers drive the nation's GDP?Use the following composition of expenditure for the economy of a country named the Republic of Tapuwa, for the year ended 2019 to answer the questions below: Show all calculations and formulae Calculate the value of the country’s GDE (Gross Domestic Expenditure).Using the midpoint method (percentage change = change in quantity/average), calculate the percentage change in a nation’s GDP from $1 trillion in 2005 and $1.03 trillion in 2006. Group of answer choices
- Calculate and interpret the Coefficient of Correlation between the following indicators: GDP (Current $US) and Goods exports (BoP, current US$)Consumption $500Government Expenditures $200GNP $800Gross Private Domestic Investment $100Imports $100Exports $50 Questions: 3. Using the data above, PCE (Personal Consumption Expenditure) is equal to _____________.4. If the dollar amounts of the items above are the nominal amounts in year 2017, and the quantities of units are identical in years 2010 and 2017, but prices in 2010 were 20% less than 2017, Real GDP in 2017 using 2010 as the base year is equal to _______________.Using Graph Is there any relationship between the monthly percentage change in rail carload traffic (RCLDPCH) and quarterly percentage change in GDP (QGDPPCH)? Relate potential relationship to disruptions witnessed the last couple of years or economic contraction and expansion in previous years?
- Calculate GDP using the Income and Expenditure Approach.(all figures are in billions of dollars): Item Amount ($)Government purchase of goods and services 1,721.6Exports 1,096.3Receipts of factor income from the rest of the world 382.7Depreciation (consumption of fixed capital) 990.8Net fixed Investments 688.2Corporate income taxes 265.2Consumption expenditures 6,739.4Indirect business taxes 664.6Imports 1,475.8Payments of factor income to the rest of the world…the price index used to determine Real GDP is called the personal cunsumtion expenditures price index the real GDP price index the implicite price deflator 5 pts the consumer price indexUnit 7 Practice Questions to be discussed in BBCStudents are expected to attempt the questions before attending the BBC Session.Selected questions will be discussed in the BBC Session.Question 1Suppose production and prices of food and clothing (the only two goods produced in this economy) in 2006 and 2007 are as follows: (base year = 2006)Year Quantity of FoodPrice of FoodQuantity of ClothingPrice of Clothing2006 20 $15 15 $52007 60 $18 30 $6Calculate nominal and real GDP in 2006 and 2007, the GDP deflator and the growth rate in real output.Question 2You have been employed as the chief economist for the economy UWI Land. The head statistician has provided you with the following…
- The following data were recently obtained from the BEA; values are in billions of dollars:Personal consumption expenditures, new goods: $3,780 Personal consumption expenditures, services: $8,667.8 Personal consumption expenditures, used goods: $570 Gross private domestic investment: $3,096.3 Exports of goods and services: $1,798.2 Imports of goods and services: $2,342.9 Government consumption expenditures and gross investment: $3,839.3 Government outlays for SNAP (food stamp) program: $85.4 a. What is the value of GDP?b. Your company has several factories and divisions located in other countries; how does the production of goods and services from those factories and divisions affect both U.S. and the other countries’ GDP?c. You are considering expanding your sales to either the country of Greater Dumpington or Lesser Dumpington, but are concerned about the local citizens’ ability to afford your relatively-expensive products. Both countries have the same GDP, but Greater Dumpington has…A firm's value added is a. the revenue it receives for its output, minus the cost of all the intermediate goods it buys b. the revenue it receives by selling its output c. the revenue it receives for its output, minus the taxes that it pays d. the revenue it receives for its output, plus the cost of all the intermediate goods it buys e. usually not included in GDPRefer to Table 6.3 below, use the expenditure approach to calculate gross domestic product from the following set of numbers. Consumption $5,000 Investment $1,000 Depreciation $600 Exports $500 Government purchases $1,000 Saving $1,100 Imports $700
