Why is it desirable for a country to have a large GDP?Give an example of something that would raise GDPand yet be undesirable.

Q: GDP tends to overstate the amount of output produced by a nation's economy. C a) True C b) False

A: Economic development is the process of creating wealth for the benefit of the community. It's more…

Q: On which basis the GDP of the country is decided?

A: Gross domestic product (GDP): It is the value of all finished or final goods and services produced…

Q: Discuss the economic impact of  GDP on investments ?

A: Gross Domestic Product is defined as the value of all the financial goods and services that are…

Q: GDP

A: GDP is also defined as Gross Domestic Product. GDP is the measure of value of all the final goods…

Q: What are the two main difficulties that arise in comparing different countries's GDP?

A: The GDP is the Gross Domestic Product of a country which is equal to the total monetary value of all…

Q: What are typical GDP patterns for a high-income economy like the United States in the long run and…

A: Gross Domestic Product (GDP) is denied as the total nominal value of all complete commodities or…

Q: Why is it desirable for a country to have a large GDP?

A: In economics, the gross domestic product is an economic measurement to compute the national income…

Q: How national income can be measured in economics? Explain briefly:

A:

Q: Given the following: Ca = $450, Ig = $250, Xn = − $10, and G = $30, what is the economy’s GDP.

A: GDP can be calculated by the following formula;  GDP = Consumption C + Investment I + Governemnt…

Q: what have we learned from the recent changes in GDP so far this year in 2022?

A: Introduction According to the World Bank's newest Global Economic Prospects report, the global…

Q: is added to exports when calculating U.S. GDP because imports reflect spending by Americans?…

A: The value created by production of all the services and goods in a specific period of time within…

Q: What components of GDP tend to decline significantly during recessions (particularly during the 2008…

A: Recession is a temporary period of economic decline which leads to a fall in GDP for two successive…

Q: Are there problems with GDP that should be fixed?

A: GDP is widely used concept to major economy health GDP is total of aggregate production of goods and…

Q: If consumption is $8 billion, investments is $4 billion, government purchases are $2 billion,…

A: Government purchase denotes the certain expenditure on the economics services and the goods by body…

Q: Would you usually expect GDP as measured bywhat is demanded to be greater than GDP measured bywhat…

A: Gross domestic product (GDP) is that the total financial or market price of all finished products…

Q: Why does real GDP always defer from nominal GDP?

A: Real GDP means the value of goods and services produced in the economy during a specific period that…

Q: What is real GDP ?

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

Q: Is GDP a main indicator of a country's economic well-being? Why and why not?

A: Gross domestic product is the money value of all final goods and services produced by normal…

Q: What is GDP (50 words only)

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

Q: Discuss what the shortcomings (limitations) of GDP as a measure of well-being and welfare of a…

A: GDP is the gross domestic product of any country which is the sum total of all the values of final…

Q: Discuss whether GDP is always reliable and accurate in reflecting economic performance of a country.…

A: GDP is that the price of all the finished merchandise and services created at intervals a country'…

Q: List three real life situations that shows a flaw with using GDP as the only indicator of the…

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

Q: Explain the economic development of the GDP?

A: Economic growth, when accounting for inflation, is the increase or improvement in the market value…

Q: Describe and compare three methods of measuring a country’s GDP ?

A: Gross domestic product (GDP) refers to the final value of goods and services produced in an economy…

Q: Why do you think that GDP does not grow at a steady rate, but rather speeds up and slows down?

A: Gross domestic product (GDP) is the standard measure for creation of value being added in a country…

Q: What’s the real difference of Open-Economy and Closed-Economy on calculating GDP? Write the…

A: A closed economy does not trade with other countries, so it has no exports and imports. An open…

Q: Which of the following is the way to show the output of a Kuwaiti company has a production unit…

A: The gross national income (GNI) is the entire amount of money earned by a country's citizens and…

Q: Is a larger GDP always better than a smaller GDP? Explain your answer with an example

A: Gross Domestic Product is the value of all the domestically produced goods and services. It…

Q: If KLM, a Dutch company providing air travel, buys airplanes from a French manufacturer, how does…

A: Given information: *KLM is a Dutch company *French manufactures the airplanes

Q: What is advantage of GDP?

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

Q: Why isn't GDP a good measure for economic well being

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

Q: Explain some of the weaknesses involved in using GDP as a measure of national well-being, especially…

A: GDP refers to the final value of goods and services produced in an economy during a year. The main…

Q: How GDP at market prices converted to GNP at market prices

A: GDP has mainly four components: consumption, investment, governmen spending and net exports.  1.…

Q: How could we increase GDP?

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

Q: Which of the following is a short coming of GDP? a.GDP excludes changes in inventries. b.GDP…

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

Q: Should we continue to measure GDP as we do now?

A: Gross Domestic Product (GDP) has long been recognized as being less than sufficient as a measure of…

Q: Why do you suppose that U.S. GDP is so much higher today than 50 or 100 years ago?

A: GDP or the Gross Domestic Product of the economy is the measure of the final value of all the goods…

Q: what problem the value added approach to measuring GDP solved

A: Value added approach of GDP calculation refers to the approach in which all the final goods and…

Q: Compute: (Refer to the photo below for the given data) GDP NY

A: GDP = C  + I + G + (X - M)           = 30,000 + 3,000 + 20,000 + (42,000 - 50,000)             =…

Q: What are the main components of measuring GDP with what is demanded? (briefly)

A: aggreagate demand is defined as the total demand of goods and services within an economy. Now, AD =…