Which one of the following has to be taken into account when GDP is estimated? O A. John purchases shares to the value of R150 000 in Anglo American plc. O B. Peter invests in a 24-month tax-free fixed deposit. O C. A firm buys Mpho, its sales representative, a new car. O D. Patrick, a university student, buys an old car from a friend. O E. Anne, a civil pensioner, receives her monthly pension from the government.

Q: Per Capita GDP measures O the amount of product each person in the country produces O how much…

A: Gross domestic product (GDP) measures the money value of all goods and services produced in an…

Q: Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all…

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

Q: Calculate GDP using the information in the table below: $Billions Government purchases of goods 1200…

A: GDP: Sum of all the final value of goods and services produced in a given year.

Q: $50,000 on food and other consumption goods, $20,000 on vacations abroad, saved $10,000 in her…

A: In economic aspects, (GDP) is how much a spot produces in a measure of time. Gross domestic product…

Q: In 2018, GM produced 30 cars, of which 25 were sold in 2018 and 5 were added to its inventories. The…

A: Gross domestic product includes value of all final goods and services produced in the economy within…

Q: You are given the following information about an economy: $millions Derive the following: (i)…

A: We have to find national income, net investment, Personal income, disposable income, and household…

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

A: When a good is manufactured, cost  takes place for producing that good and process of business…

Q: Which of the following is an example of (economic) investment I, as defined in GDP accounting? O a.…

A: Private domestic investment or capital expenditures are referred to as "investments." Businesses…

Q: a. Gross domestic product (GDP) is measured using the quantities of goods and services produced. O…

A: Gross domestic product measures the value of final goods and services produced in an economy during…

Q: Which of the following description best explains the expenditures approach to calculating GDP? O…

A: Expenditure approach is one of the way to estimate the gdp in the economy. It takes into account the…

Q: The following table contains information about an economy that produces only rice and beans. The…

A: GDP deflator = Nominal GDP / Real GDP * 100

Q: U.S. real GDP O A. includes the value of underground production but excludes the value of leisure…

A:

Q: Compensation of employees is the largest component of GDP when using the expenditure approach to…

A: Gross domestic product (GDP) is the total monetary or market value of all the finished goods and…

Q: Calculate GDP using the information in the table below: SBillions Government purchases of goods 1200…

A: GDP stands for Gross Domestic Product which means the total of all value added created in the…

Q: Consumption in the calculation of gross domestic product does not include Consumer services Consumer…

A: GDP refers to the production of goods and services during an accounting year.

Q: Which of the following is included in GDP? O The buying and selling of securities. O Government…

A: Answer is [c] The sales of used goods. So here is a list of things that are not included:- 1.Sales…

Q: Which of the following is the most detail-orientated approach used to calculate GDP? O none of the…

A: The gross domestic product (GDP) of a country is a measure of its economic output.It includes all…

Q: Given the following data for Jamrock country work out the following:  US$mn. Private Consumption…

A:

Q: Transfer payments are O a excluded when calculating GDP because they only refiect inflation Ob…

A: GDP is an important measure of economic strength of every country that reflects the value of goods…

Q: Which of the following items is not a component of the income approach of measuring the U.S. GDP? O…

A: The Gross Domestic Product (GDP) is the standard measure of value-added produced during a certain…

Q: Which of these statements is not true when we discuss GDP calculation? O a. GDP includes earnings of…

A: GDP refers to the sum of the value of goods and services produced in a country in a particular…

Q: During 2008, The rawhide company produced enough rawhide for 1000 dog chews. The dog chew…

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

Q: Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all…

A: The gross domestic product (GDP) is a measure of a country's economic output. Countries with higher…

Q: Shay used to go to Jiffy Lube to have the oil changed in her car, but now she changes the oil…

A: The Wages or labor charges are not included in the GDP as they are already counted as a business…

Q: Which of the following would NOT be included in a nation's Gross Domestic Product (GDP)? Select one:…

A: Gross domestic product (GDP) refers to total value of all final goods and services that produced…

Q: QUESTION 12 In the expenditure approach to GDP, which of the following is excluded from measurements…

A: Introduction: Gross domestic product (GDP) is the total monetary or market worth of all completed…

Q: During 2008, The rawhide company produced enough rawhide for 1000 dog chews. The dog chew…

A: GDP i.e Gross domestic product is total value of the goods and services produced in the nation at a…

Q: Using the information in the table below, calculate GDP using the expenditure approach. NZSNA…

A: Ans. The Gross Domestic Product (GDP) is the value of final goods and services produces within an…

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 included in the income approach to calculating GDP? ..... O A. corporate…

A: the formula for calculating by income approach   =W + R + I + PR   wages is defined as the incomes…

Q: If a car salesperson in 2012 sells a used 2000 Chevrolet for $3000 and collects a commission of…

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

Q: Each of the following activities represent a limitation to using GDP as an accurate measure of…

A: Even while economists love to use GDP as a measure of output or even a measure of a country's…

Q: Which of the following will be included in the calculation of GDP using the expenditure method? O…

A: Gross Domestic Product (GDP) is the sum total of all goods and services produced in an economy…

Q: Which of the following would NOT be included in this year's GDP? Select one: Oa. The tuition fee for…

A: GDP is the value of final goods and services produced in the economy within a given period of time.

Q: Which of the following is NOT part of GDP? O The purchase of new homes by consumers. O Purchases of…

A: GDP or Gross Domestic Product is the sum total of all goods and services that are produced in an…

Q: a) Consider an economy that produces only chocolate bars. In year 1, the quantity produced is 3 bars…

A: Calculation of Nominal GDP,

Q: What components of GDP (if any) would each of thefollowing transactions affect? Explain.a. Uncle…

A: NOTE: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: How is a potato treated in GDP terms? O It is always counted an a final good. O It is always counted…

A: Gross domestic product is the value of FINAL goods and services produced in the country within a…

Q: Each of the following activities represent a limitation to using GDP as an accurate measure of…

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

Q: Below is a summary of the goods produced by a small economy in 2017: Product Quantity Price per unit…

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

Q: QUESTION 20 Suppose that a simple economy produces only the goods and services shown in the table.…

A: Note: Since you've asked multiple question, we will solve the first question for you. If you want…

Q: Only two goods are produced in Macroland - Pens and Notepads. Given below are the quantities and…

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

Q: If nominal GDP is $900 and GDP deflator is 120, what is the real GDP in the economy? O a. 1350 O b.…

A: Real GDP = (Nominal GDP / GDP deflator) x 100

Q: A rancher raises sheep. Once a year he shears them and sells the raw wool to a processor who cleans…

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

Q: What counts as GDP (II)? By how much does GDP rise in each of the fol-lowing scenarios? Explain. (a)…

A: GDP by expenditure aggregates the final expenditures done by business organizations, consumers,…

Q: Whether or not we measure the economy's expenditure or its income: O national production national…

A: The concepts like national production and national expenditure are used in calculating the national…

Q: Which of the following scenarios are either not accounted for or measured inaccurately by either the…

A: The GDP or the Gross Domestic Product refers to the value of all the final goods and services that…

Q: Gross domestic product per capita is the total income of everyone in a year, divided by population.…

A: Per capita income is the income of the country i.e., GDP divided by the population. This will give…

Q: Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all…

A: Gross domestic product is the market value of all goods and services produced in the domestic…