What are the three views on GDP and how do they differ from each other? Since they measure output and income in the end, why is it necessary to measure output from these three views?

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

A: Gross Domestic Product denotes the total aggregate output that is produced in the country at a given…

Q: components of GDP using the expenditure approach.

A: The expenditure approach to calculating gross domestics products for the nation, or GDP, uses these…

Q: The national income accounts for a hypothetical country, Hypothetica, appear in the table below. a.…

A: National income analysis is important to find the economic status of an economy and compare it with…

Q: Hint: Add the amount of money spent by buyers of final goods and services. Which of the following…

A: GDP is the total final value of goods and services produced in a country during a particular period.…

Q: Compute the economy's GDP using the expenditure approach. Assume that all transactions are 2019.

A: Given, Hector spent for the maintenance of his car P 70,000 per month will be considered…

Q: what are the statement by Robert Kennedy on the important aspects that GDP does not include .Provide…

A: Robert Kennedy has very beautifully explained the drawbacks of the GDP. He said GDP does not include…

Q: What are the two main difficulties that arise in comparing different countries's GDP?

A: The GDP is the Gross Domestic Product of a country which is equal to the total monetary value of all…

Q: Many years ago, Peggy paid $500 to put together a record collection. Today, she sold her albums at a…

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

Q: What is the difference between the expenditure method and the value-add method for calculating GDP?

A: Gross domestic product is the total value of goods and services produced in a nation in a particular…

Q: Why the components of GDP exhibit behaviors much different than GDP itself?

A: Gross Domestic Product refers to the sum total of the goods and services produced in the economy…

Q: Discuss the limitations of gross domestic product (GDP) as a measurement tool please.

A: GDP is the total income of the domestically produced final goods and services which would result in…

Q: Why does the investment components of GDP includes purchase of new capital goods but no purchase of…

A: GDP measures the final value of all goods and services that are produced within the domestic…

Q: If you calculate GDP by adding together the final demands of consumers, business firms, the…

A: The term ‘GDP’ or gross domestic product refers to the market value of all services and commodities…

Q: Which of the following transcation is excluded from GDP? a. Intel buys a new jb to ferry t workers…

A: The market value or the total money of all the finished goods and services produced within the…

Q: What is the difference between GDP and GNP? Which one is the better measure of income?Why?

A: GDP refers to the final value of goods and services produced in an economy with the given resources…

Q: Years ago, Ricky paid $500 for CDs to put together a collection. Today, he sold his CDs for $200.…

A: GDP or the Gross Domestic Product is the final value of all the goods and services produced in an…

Q: Jeremiah expressed his disdain for the economic reports he heard on the news. “All economists care…

A: While it is true that GDP calculations omit such things as the value as opposed to the price of an…

Q: product, income and expenditure

A: GDP (Gross Domestic Product): It refers to the goods and services which are produced in an economy…

Q: Why are there two measures of GDP.

A: The gross domestic product (GDP) is that the most commonly used indicator of an economy's size…

Q: What is the formula for income and expenditure approach of GDP?

A: The market value of all final goods and services produced in the economic territory of the country…

Q: Considering the Expenditure Approach of measuring GDP, what component are considered? Define and…

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

Q: What is the relationship among the four expenditure components of GDP?

A: Gross Domestic Product (GDP) refers to the total of all the goods and services produced and sold…

Q: When comparing the GDP of different countries, two issues immediately arise. What are these issues…

A: GDP: Gross domestic product refers to the market value of all the commodities that are produced by…

Q: Explain how and why GDP is not nescessarily a good measure of our economic well-being. You should…

A: GDP refers to the production of goods and services during an accounting year. it is assumed that…

Q: Comment on the limitations of using GDP as a way of measuring economic well-being

A: Introduction (GDP)Gross domestic product is a monetary measure of the market value of all final…

Q: The items listed below, determine whether or not each would be used to compute GDP.  If it is…

A: GDP refers to the sum total of market value of final goods and services produced in a country during…

Q: Explain to me how we can measure the amount of GDP from both the income side (the producer's side)…

A: In an economy, GDP describes income or output and it can be determined by three different ways.

Q: Discuss why many argue that GDP is not a good measure of economic well-being of society.

A: The gross domestic product (GDP) is the standard measure of value-added produced during a certain…

Q: What components of GDP does Ford selling a Mustang from its inventory affect?

A: Gross Domestic Product (GDP): The total amount of final values of goods and services that are…

Q: Define national income? Why do countries keep national income accounts? Distinguish between GDP…

A: National income is the value of final goods and services produced in an economy every year.

Q: If Ralph pays someone to mow his lawn and Norton mows his own lawn, what is the impact on GDP?

A: GDP = consumption + Gross investment + Government spending + Net exports GDP includes monetary value…

Q: explain how total output and total income are related to each other, and why they are related

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: What is advantage of GDP?

A: The total monetary or market worth of all finished goods and services produced within a country's…

Q: Please explain the difference between calculating GDP using the expenditure approach and the income…

A: The total value of goods and produced within a country in a financial year is referred to as…

Q: How to measure the economic impact of the smart city initiatives on GDP?

A: A Smart City has four important aspects: Society Economy Environment Governance These subjects…

Q: Why do we calculate GDP using the expenditure approach

A: GDP: It means the market value of all final goods and services that are produced within a country…

Q: In measuring GDP, How does income approach differs to expenditures approach?

A: Answer is given below

Q: Explain which expenditure component GDP would be affected by these transactions, if any. a. The…

A: Since we only answer up to 3 sub-parts we will answer the first 3. Please resubmit the question…

Q: Identify whether or not each of the following transactions would be included in GDP, and if so,…

A: GDP refers to the gross domestic product of the economy which measures the total money value of all…

Q: What is the value added aproach of measuring GDP ?

A: GDP stands for Gross domestic product. It is the value of all the final goods and services produced…

Q: Identify 2 possible exclusions to GDP and discuss why they have to be excluded.

A: GDP means the  total  market value of goods and services produced domestically during the year.…

Q: What is the difference between intermediate and final goods? Why is the distinction between…

A: Macroeconomics studies the various forces affecting the economy as a whole like aggregate demand and…

Factor Models

Many attributes might be related to an asset's risk, including market capitalization (size), dividend yield, growth, price-earnings ratio, etc. The use of these traditional descriptors, however, presents a few problems: