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What is the
A) $30,000
B) $15,000
C) $3,000
D) $1,500
Step by step
Solved in 4 steps with 3 images
- Ethiopia has a GDP of 8 billion (measured in U.S. dollars) and a population of 55 million. Costa Rica has a GDP of 9 billion (measured in U.S. dollars) and a population of 4 million. Calculate the per capita GDP for each country and identify which one is higher.Retrieve the following data from The World Bank database (http //databank.worldbank. org/data/ home.aspx) for India, Spain, and South Africa for the most recent year available: • GDP in constant international dollars or PPP • Population • GOP per person in constant international dollars • Mortality rate, infant (per 1,000 live births) • Health expenditure per capita (current U.S. dollars) • Life expectancy at birth, total (years)Goods and services that are not sold in markets, such as food produced and consumed at home, are generally not included in GDP. As a result, you would expect the GDP per person in India and the United States will differ by_____ than their actual comparative economic well-being.
- Calculate the quarter-over-quarter percentage change in GDP for the last four quarters: Quarter-Year GDP (Billions USD) % GDP Growth Q4-2020 5,267 -- Q1-2021 5,301 Q2-2021 5,398 Q3-2021 5,718 Q4-2021 6,104County A & Country B both recorded an increase in real GDP of 5% per year from 1970 to 2005. During this time, the population of country A grew at 7% per year & the population for Country B grew at 3%. Which of the following is true during this period? a. Per capita GDP was the same for both Country A & Country B b. Per capita GDP decreased for Country B only c. Per capita GDP decreased for both Country A & Country B d. Per capital GDP decreased for Country A onlyFred the farmer purchased five new tractors at $20,000 each. Fred sold his old tractors to other farmers for $50,000. The net increase in GDP of these transactions was a) 20,000 b) 50,000 c) 100,000 d) 150 000
- Government Purchases = $____ billion Private Gross Investment = $______ billion GDP = $______ billion Disposable Income = $______ billionRichland’s real GDP per person is $10,000 and Poorland’s real GDP per person is $5,000. However Richland is growing at 1% per year and Poorland is growing at 3% per year. Compare real GDP per person after 20 years and after 40 years. Please enter your answers as numerical responses rounded to the nearest dollar, and do not type out your answer as words. (ie. $13,452 not "Thirteen thousand four hundred fifty-two dollars"). What is Richland's Real GDP after 20 years? What is Richland's Real GDP after 40 years? What is Poorland's Real GDP after 20 years? What is Poorland's Real GDP after 40 years?Which one of these items will not be a part of the current year’s GDP? a.Spending of the government for public infrastructure b.Spending of the government for transfer payments c.Spending of the government for defense d.Spending of the government for social services such as education and health services
- How much does the production of a kayak add to GDP if the shell costs $250, the paint costs $20, the finisher costs $35, the manufacturer sells it to the dealer for $500, and the dealer sells it to her customer for $800? A) $1,605 B) $1,300 C) $500 D) $305 E) $80035. Which of the following is the formula for calculating the real GDP per capita? a.Total national income/net exports b.Total national expenditure /total income c.Total population in a country/total real GDP d.Total real GDP/total population in a country"An economy produces final goods and services with a market value of $5,000 billion in a given year, but only $4,500 billion worth of goods and services is sold to domestic or foreign buyers. Is this nation’s GDP $5,000 billion or $4,500 billion?"
