who would like to be taller in the country? the gross domestic product or the Gross National product and why?

Q: 1. In 1910 the United S of living) was $6,200. 35 years. What woul

A: Economic growth refers to the change in the real value of the output produced in an economy over a…

Q: What are government transfer payments? Are they included as part of the government spending…

A: In an economy, all the economic activities performed by the citizens that resulted in income value…

Q: Why do we calculate national income?

A: National income is the value of final goods and services produced in an economy during a given…

Q: How can a decline of natural resources and biodiversity affects a country's Gross National Product…

A: In an economy, changes in the resources will affect the gross domestic product and gross national…

Q: What would be the value of consumption if savings is $1300 and the value of Income is $2200

A: The data presented in the question above is:- Savings = $1300 Income = $2200 Consumption is to be…

Q: B. What is the difference between Gross Domestic Product (GDP) and GROSS National Product (GNP)?…

A: B. GDP serves as a complete assessment of a country's economic health since it is a wide measure of…

Q: 14. In which form, the largest percentage of national income is earned?

A: To find : Form in which largest percentage of national income is earned.

Q: What is the primary way in which economists measure standards of living? What are some of the other…

A: A standard of living measures the material or economic welfare of the economy. The real GDP per…

Q: For 2008, GDP in the United States was estimated at $14.265 Trillion Dollars. If the estimated…

A: The gross domestic product is the aggregate of values of all final goods and services produced in an…

Q: What is real national income?

A: National Income: It is the total market value of all the final goods and services produced in the…

Q: What are the main precautions needed to be taken while calculating the national income?

A: According to the given question National income is considered as the income which is considered as…

Q: explain the impact of a low interest rate on gross domestic product(not less than a page)

A: We can determine the impact of low interest rate on gross domestic product by taking IS-LM model. IS…

Q: To measure a real increase in wages, the changes would have to be averaged. the wages would have to…

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

Q: 9. If the actual real GDP is $90 billion and the natural real GDP is $80 billion. Measured a CDD

A: Real GDP measures the market value of goods and services produced within an economy using constant…

Q: The GDP of an economy is $1,000. We have other data as well: consumption = $600, taxes = $100, and…

A:

Q: Find the national income

A: Given:- Sr.No  Particle  Rs Crores i. Wages and Salaries 1,000 ii. Net current transfers to…

Q: In an economic the National savings is 5000 million dollars. While the public saving is dollar 4500.…

A: A country's national savings is the sum of its domestic savings by household and companies as well…

Q: What is the largest measure of national income?

A: National income refers to the total value of all the goods and services produced and sold within the…

Q: In an island economy, farmers grow 120 potato, pay 40 in tax, eat 30, plant 50 in the yard.  a.…

A: farmers grow 120 potatoes, pay 40 in tax, eat 30, and plant 50 in the yard.

Q: what are the different concepts of national income

A: There are various concepts of National Income GDP GNP NNP NI PI DI and PCI

Q: What is %  contribution of government spending in total GDP

A: GDP or gross domestic product is the value of the goods & services that are produced within the…

Q: discuss possible variations in purchasing power due to price and income changes

A: The consumer or the individual would result in consuming various amounts of goods and services given…

Q: What is the Real GDP in 2020, according to the table below? Has the Real GDP increased or decreased…

A: The nominal GDP is the monetary value of all goods and services that is produced within the…

Q: Transfer payments are included in the gross domestic product or GDP. a. True b. False c. Maybe

A: Governments make economic investments, but they also give people transfer payments. There is no…

Q: In what ways does the united States government safety net fail for low-income people?

A: The social safety net, or America's complex system of public benefits and supports, has proved to be…

Q: What should be done to compare dollar values of different purchasing power from one period to…

A: Due to the effect of inflation in an economy the purchasing power changes with time, and to compare…

Q: . How much more output does the $20 trillion U.S. economy produce when GDP increases by 1.0 percent?

A: GDP of the US economy = $20 trillion

Q: Q7. What do you mean by Gross National Product?

A: GDP The market value of goods and services produced within a domestic boundary of a country, during…

Q: In an economy where people spend 80% of their incomes, the government lowers taxes by $5000.…

A: Gross domestic product is a monetary measure of the market value of all the services and final goods…

Q: What is the main source of income in Oman? Where does Oman get its wealth?

A: An economy is a vast collection of interconnected output and usage events which help determine how…

Q: Explain the difficulties in the measurement of the national income?

A: According to the given question While measuring the national income of a country there exists two…

Q: what is gross domestic product?

A: GDP refers to the market value of the final production of all the goods and services within the…

Q: What are the key taxes levied which can be collected by state, territory, and local government in…

A: There are the key taxes levied by which can be collected by the state government in Australia that…

Q: If GDPMP of a country is 50 billion and product taxes are 2 billion while subsidies given are worth…

A: GDP (as per income method) = GDP at factor cost + Taxes – Subsidies. 50= LET assume X + 2BILLION-…

Q: Use the table to answer the questions. Round your answers to the nearest cent. Country A Country…

A: a.)GDP per capita for country A:GDP per capita for country A can be calculated as follows:

Q: What is GDP

A: Gross domestic product(GDP) is macroeconomics term having very broad meaning. Frequently economist…

Q: What GDP and GNP and how the country generate?

A: The standard measure of value-added produced during a certain time by manufacturing goods and…

Q: Which of these can measure national income?

A: The national income(NI) of a country shows the economic and production performance of a nation.…

Q: The savings rate in a country is 25%. The government wants to expand GDP by $300 Billion. How much…

A: The savings rate in a country is 25%. The government wants to expand GDP by $300 Billion.

Q: How do you calculate private closed economy GDP?

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

Q: Explain the three approaches to national income?

A: According to the given question National income is also known as a national product which is a…

Q: Is gross domestic product a reliable indicator of a nation's economic wealth? What might be a better…

A: The GDP is the  value of all  services and goods that are produced in an economy over a certain time…

Q: How do you calculate private closed economy GDP?

A: A closed economy represents a market system where no trade with other countries take place.

Q: What is Gross Domestic Product and give some examples.

A: GDP is  the total monetary  value of all the final commodities produced within a  specific…

Q: What is the biggest spending component of GDP?

A: The monetary worth of all the goods and services generated in an economy over a specific period of…