Many years ago, Peggy paid $500 to put together a record collection. Today, she sold her albums at a garage sale for $100. How does this sale affect current GDP?

Q: A farmer produces milk, which he sells to a mill for 1000 tk. The mill turns the milk into cream,…

A: GDP(Gross Domestic Product) is the total money value of all the goods and services produced in a…

Q: what are the statement by Robert Kennedy on the important aspects that GDP does not include .Provide…

A: Robert Kennedy has very beautifully explained the drawbacks of the GDP. He said GDP does not include…

Q: What component(s) of GDP (if any) would each of the following transactions affect? Explain. 1. A…

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

Q: What is the difference between the expenditure method and the value-add method for calculating GDP?

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

Q: Calculate GDP using 1) the Income Approach 2) Expenditure Approach.  (all figures are in billions…

A: The measure that depicts the value of final goods and services being produced within a span of time…

Q: A farmer sells wheat to a baker for $2. The baker uses the wheat to make bread, which is sold for…

A: Intermediate goods are the goods used to create another product. Intermediate goods are inputs in…

Q: Identify whether or not each of the following transactions would be included in GDP, and if so,…

A: e.A homeowner buys shingles to re-do her roof. Yes, this will be included in GDP, in consumption…

Q: Discuss the limitations of gross domestic product (GDP) as a measurement tool please.

A: GDP is the total income of the domestically produced final goods and services which would result in…

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: What is the difference between GDP and GNP? Which one is the better measure of income?Why?

A: GDP refers to the final value of goods and services produced in an economy with the given resources…

Q: Home production, such as cooking food at home, does not count towards GDP. What do you expect…

A: GDP includes in the values of the goods and services that are bought in the markets exclude over the…

Q: Identify whether or not each of the following transactions would be included in GDP, and if so,…

A: (d) would be included in GDP Income method.

Q: Years ago, Ricky paid $500 for CDs to put together a collection. Today, he sold his CDs for $200.…

A: GDP or the Gross Domestic Product is the final value of all the goods and services produced in an…

Q: which of the following transactions is exclued from GDP? a. the brazilian air force buys jets from…

A: Just recently delivered products - including those that expansion inventories - are included in GDP.…

Q: does a household purchase of a home built in 1985 affect GDP?

A: The Gross Domestic product (GDP) measures the market value of all the final goods and services…

Q: explain why National income accountants only include the market value of final tangible goods and…

A: The GDP is the complete of all worth added made in an economy. The worth added implies the worth of…

Q: What is the difference between GDP and GNP?

A: ‘GDP’ is the value of all goods & services produced in an economy in a period of time.  ‘GNP’ on…

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

A: Hey,thank you for your question, since you have posted multiple sub parts we will answer the first…

Q: You just bought an old car a couple years ago for $1,000 and put about $5,000 of parts and labor…

A: Secondhand goods, such as used cars, are excluded from GDP calculations.  When these things were…

Q: .Assume a Hyundai dealership in Delhi bought 30 Hyundais from Korea at a cost of $15,000 per car in…

A: here we calculate the given by following method as follow;

Q: A mining company acquires new government licenses to drill in land the company already owns.    Is…

A: Yes. If a mining company acquires new government licenses to drill in land the company already owns.…

Q: included in the year’s GDP

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

Q: Which of the following would NOT be included in GDP? US manufacturer making goods in Europe Final…

A: Which of the following would NOT be included in GDP? The answer is Option A - US manufacturer making…

Q: What components of GDP does Ford selling a Mustang from its inventory affect?

A: Gross Domestic Product (GDP): The total amount of final values of goods and services that are…

Q: In 2016, suppose a real estate agent sells a second-hand apartment (build in 1990) for 250,000. The…

A: Data presented in the above question is as follows:- Price for the second hand apartment = 250,000…

Q: Which of the following methods of calculating GDP would NOT be accurate when the information on the…

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

Q: explain the three approaches to measuring GDP and why do they give the same

A: Gross Domestic Product: GDP is a computation of the total size and health of our economy. GDP…

Q: why the expenditure apporach is used to calculate gdp

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

Q: Suppose a group of British investors finances the construction of a plant to manufacture skateboards…

A: GDP refers to the aggregate value of total output of all goods and services produced within the…

Q: A firm manufactured a computer hard desk and keyboard and sell to a computer manufacturing firm for…

A: Contribution to GDP is the final added value. It is the monetary value of final added goods and…

Q: How to measure the economic impact of the smart city initiatives on GDP?

A: A Smart City has four important aspects: Society Economy Environment Governance These subjects…

Q: Which of the following transactions count towards GDP? A The selling of an empty plot of land. в The…

A: When the plot is sold, it is already accounted in calculation of GDP when the first time it was…

Q: Which of the following would be included in the consumption component of GDP? Select an answer and…

A: Answer- Need to find- Which of the following would be included in the consumption component of GDP…

Q: What's the difference between GDP and GNP ?

A: GDP refers to the value of final goods and services produces in an economy within a year It can be…

Q: Explain the difference between GDP and GNI.

A: Gross Domestic Production is the total monetary of all the finished goods and services which are…

Q: A Chinese restaurant buys 100 cups of rice for a total of $10; they buy soy, fish and oyster sauces…

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

Q: what is the difference between nominal GDP and real GDP? what is the methodological procedure to…

A: National Income is the amount received from the goods and services produced annually in the economy.…

Q: A farmer sells cucumbers to a food processor for $1.50 per pound. The food processor makes the…

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