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- Which of the following will not cause an increase in equilibrium GDP? a) an increase in government expenditure on health care b) an increase in income tax rates c) an increase in exports to the EU d) an increase in domestic consumption expenditureFrom the following data, determine the equilibrium level of real GDP.The equilibrium level of real GDP is ______________.Write the Total Spend equivalence in an open and governmental economy. (Variables will be written with their names, not abbreviations)
- Based on this definition, indicate which of the following transactions will be included in (that is, directly increase) the GDP of the United States in 2020. Scenario 2020 GDP Excluded Included Athleticus, a U.S. shoe company, produces a pair of sneakers at a plant in Vietnam on March 17, 2020. Athleticus imports the pair of sneakers into the United States on May 21, 2020. The Jones family buys an antique silver platter at an auction in upstate New York on March 17, 2020. Fastlane, a Japanese automobile company, produces a sedan at a plant in Indiana on December 12, 2020. A family buys the sedan on December 24. Rotato, a U.S. tire company, produces a set of tires at a plant in Michigan on September 19, 2020. It sells the set of tires to Speedmaster for use in the production of a two-door coupe that will be made in the United States in 2020. (Note: Focus exclusively on whether…Classify each of the following items as a final good or service or an intermediate good or service, and identify which is a component of consumption expenditure, investment, or government expenditure on goods and services. A. A textbook bought by a student B. A computer purchased for a senator's office C. New cars bought by Hertz, the car rental firm D. Aluminum sheets bought by Boeing 1. A is a final good that is consumption expenditure, B is a final good that is government expenditure, C is a final good that is investment, and D is an intermediate good. 2. A is a final good that is investment, B is an intermediate good, C is a final good that is investment, and D is an intermediate good. 3. A is a final good that is consumption expenditure, B is an intermediate good, C is a final good that is consumption expenditure, and D is a final good that is investment. 4. A is a final good that is consumption expenditure, B is a final good…Match the term to the definition Occurs when equilibrium GDP is greater than full employment GDP Occurs when equilibrium is less than full employment GDP A. Recessionary GAP B. Inflationary Gap
- Part of a bridge built by the government of Ritzland collapsed in the same year it was constructed. If the total cost of building the bridge was $4 million, and then it costs $3 million to repair it, which of the following will happen in this scenario, everything else remaining unchanged? Ritzland's GDP will decrease by $4 million. Ritzland's GDP will increase by $3 million. Ritzland's GDP will increase by $7 million. Ritzland's GDP will increase by $1 millionNeed both answers Question 8 Suppose Barbara, a self-employed graphic artist, buys a new color copier that she uses to produce pamphlets for her clients. The ink cartridges Barbara uses in the printer Select one: A. would be included in GDP as an export. B. would be included in GDP as part of government spending. C. would be included in GDP as part of investment. D. would be included in GDP as part of consumption. E. would not be included in GDP because they are an intermediate good. Clear my choice Question 9 The following data are the seasonally adjusted percent changes from the preceding month for the United States. November 2018 December 2018 Total PPI -0.1 -0.1 Core PPI +0.2 0.0 In December 2018, food and energy prices in the United States _____ from their November 2018 levels. Select one: A. remained unchanged B. decreased C. increasedAn economy with no trade and no taxes is described by the following functions: C = 750000+ 0.4Y I = 300000 Compute equilibrium real GDP
- Assume the following to answer the following question: C= 1000+ .9 (Y-T) Tax rate = 0.1Y Imports = 0.1(Y-T) Government spending = 200 Investment = 300 Exports = 600 Potential Output = $8000 What is the current GDP in this economy?Use the following equations for question 16.C = $400 +0.8Y I = $300 G = $200X = $300 -0.4Y 16. What is the equilibrium level of real GDP?The following data about a hypothetical economy are in billions of dollars. Personal Consumption Expenditures $4,500 Consumption of Fixed Capital 150 Gross Private Domestic Investment 800 Government Purchases 950 Exports 65 Imports 85 Refer to the above data. GDP in this economy is: Multiple Choice $6080 billion. $6230 billion. $6380 billion. $6400 billion.
