Which of the following are final goods or services,and which are intermediate goods or services?a.A haircut purchased from a hair salon.b.A new automobilec.An oil filter purchased in a new automobiled.Crude oil

Q: a) Elucidate how an economy’s income must always equal its expenditure.

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Q: 11. Investment expenditure as part of GDP includes A) Cole's purchase of camera surveillance for all…

A: The final value of goods and services being produced during a specified period of time in an economy…

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A: Answer: GDP: GDP refers to the value of goods and services produced within the domestic territory of…

Q: Which of the following is not counted as a part of GDP? the unsold additions to inventory at an…

A: GDP ascertains the value of all final commodities made within the borders of the economy. So, it…

Q: 4.  a mechanic builds an engine and then sells it to a customized body shop for $7,000. the body…

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A: A way of measuring the economic wellbeing of a nation, the GDP is the amalgamation of all the values…

Q: 2. 2. Which of the following are included in this year's GDP? Explain why each is included. (a) Dr…

A: GDP (Gross Domestic Product):  It refers to the value of all final goods and services produced…

Q: i. Explain the difference between the term's nominal GDP and real GDP. ii. What is Malaysia's…

A: The gross domestic product (GDP) is the total money value of all the finished goods and services…

Q: If Mercedes builds cars in the United States, is their value counted in U.S. GNP? If General Motors…

A: GDP refers to the monetary value of goods and services produced in the county in a particular period…

Q: In a closed economy where there is only a wheat producer and a bread producer, if the wheat producer…

A: The gross domestic product (GDP) refers to the money value of all final goods and services produced…

Q: Why do economists use real GDP rather than nominal GDP to gauge economic well-being?  Define "Real"…

A: The Gross Domestic Product is the summation of the money value of all the final goods and services…

Q: PROBLEMS AND APPLICATIONS 1. What components of GDP (if any) would each of the following…

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Q: Q.2. John a farmer sells tomatoes to Joseph the tomato sauce manufacturer for K350 . Joseph makes…

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

Q: (a) Two years ago you bought a used car for $1,000 and spent $5,000 on parts for improving it.…

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Q: farmer grows a bushel of wheat and sells it to a Miller for $20.00. The Miller turns the wheat into…

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Q: Consider an economy which produces and sells, among a host of other things, 100 million T-shirts a…

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

Q: Last year, a small nation with abundant forest cut down $200 worth of trees. It then turned $100…

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Q: b. Analyze how much Pakistan’s GDP and each of its components is affected by the following…

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

A: GDP = consumption expenditure + investment expenditure + government expenditure + net exports

Q: Which of these is not a characteristic of the gross domestic product? a. Includes intermediate goods…

A: GDP is one of the most important indicators for measuring the economic activity, stability, and…

Q: GDP is: O the value of all final goods and services produced domestically. the value of all final…

A: Final goods are those goods that are directly consumed by the consumers.  Intermediate goods are…

Q: Which of the following are final goods or services, and which are intermediate goods or services? a.…

A: There are two types of goods and services: Final (finished) goods or services  and Intermediate…

Q: A farmer produces wheat, which is valued at $0.75. The wheat is then sold to a miller, who turns it…

A: the farmer produces wheat so the value added By the farmer is 0.75 By Miller is (1.50-0.75) = 0.75…

Q: What is the nominal gdp and the value added of service sector?

A: Gross Domestic Product (GDP) is defined as the value of all final goods and services that are…

Q: If in some country personal consumption expenditures in a specific year are $50 billion, purchases…

A: The gross domestic product shows the value of all final goods and services which is produced in the…

Q: Measuring GDP - Income approach Assume an economy with a coal producer and a steel producer. In a…

A: Answer -

Q: A firm produces and sells a good for $95. To produce this good they purchased materials for $11,…

A: Value added = Value of output - Intermediate consumption

Q: In 2013, Blackberry bought $100 million in parts in New York and $150 million in par Ontario to…

A: In 2013, Blackberry bought $150 million in parts in Ontario to produce $600 million worth of phones…

Q: If nominal GDP is 42,000 and real GDP is 40,000 what is the GDP deflator?     A.) 1.05     B.) 200…

A: Nominal GDP measures the value of goods and services measured in current year prices while real GDP…

Q: Now, suppose that some goods are not sold. e. Calculate the new real GDP for 2018 (2019 base year)…

A: Real GDP measures the money value of all final goods and services produced in an economy adjusted…

Q: Consider an economy that produces only chocolatebars. In year 1, the quantity produced is 3 barsand…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: What are the major discrepancies that exist between the manufacturing activity and the consumption…

A: Lets understand the coordination between the manufacturing activity and consumption activity with a…

Q: 18. If nominal GDP is $5 million and the real GDP is $4 million, what is the GDP deflator? a 0.80 b.…

A: GDP measures the value of all final goods and services produced in an economy over a period of time.…

Q: 1. Refer to Table 23-2. What was country A's GDP in 2010? 2. Refer to Table 23-2. What was country…

A: GDP calculates the total worth of all final goods and services produced in an economy.

Q: Which of the following are included in the year’s GDP? which are excluded? Explain your answers 1.…

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Q: 3. Consider an economy that only produces mittens. In Year 1, 400 and the price is $5 per pair. In…

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Q: value added" and how it can be used to calculate GDP

A: GDP means the total value of final goods and services produced in an economy during a period.  GDP…

Q: Given the following: consumption = 430, investment = 300, government expenditure = 150 and net…

A: Economy's GDP is calculated by = Consumption + Investment + Government expenditure + Net export

Q: Assume an economy with two firms: a coffee beans producer and a coffee shop. In a given year, a…

A: a coffee beans producer sells 50,000 tonnes of coffee beans to the local coffee shop at $50 per…

Q: why is  a large GDP  a good thing for the economy and sosociety?  what would a large GDP mean to an…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: ato flour and then sells it to a Baker for $25.00. The Baker uses the flour to bake bread and sells…

A: a. GDP: The GDP or Gross Domestic Product can be defined as the total income of the country. GDP…

Q: 20. Which of the following represents the measurement of GDP as the sum of consumption…

A: GDP is the final value of all the goods and services which are produced within the domestic economy…

Q: What is U.S. gross domestic product? U.S. gross domestic product is the market value of all the…

A: Gross domestic Product or GDP refers to the the sum total of money value of all final goods and…

Q: Which definition best describes real GDP? a)the production of goods and services valued at current…

A: The Gross Domestic Product is the summation of the money value of all the final goods and services…