MyLab Economics with Pearson eText -- Access Card -- for Foundations of Economics
8th Edition
ISBN: 9780134518312
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 2, Problem 3IAPA
To determine
To find:
The items in the list which are consumption goods and services and the explanation of the reason for the same.
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True or false?Part A. Government production accounts for about half of all GDP in the United States.
Part B.Gross domestic product is the money value of all final goods and services produced in an economy in a year.
Total consumer expenditure 400,000
Government spending 148,000
Gross domestic capital formation 160,000
Value of physical income in stock 8,000
Export of goods. 72,000
Import of goods 68,520
Subsidies 5,560
Taxes on expenditure 6,960
Capital consumption 22,000
Income from abroad 51,600
Income paid abroad 29,600
From the following data country X, you are required to calculate:
1. GDP at factor cost
2. GNP at factor cost
3. NNP
38)The following data are for a hypothetical economy in billion. What is GDP?
Consumption Expenditure, C
$900
Government Purchases, G
$140
Net Taxes, T
$200
Transfer Payments
$100
Gross private Domestic Investment, I
$60
Corporate Profits
$100
Wages
$800
Exports
$100
Imports
$200
Select one:
a. 1220
b. 1200
c. 1000
d. 1100
e. 900
Chapter 2 Solutions
MyLab Economics with Pearson eText -- Access Card -- for Foundations of Economics
Ch. 2 - Prob. 1SPPACh. 2 - Prob. 2SPPACh. 2 - Prob. 3SPPACh. 2 - Prob. 4SPPACh. 2 - Prob. 5SPPACh. 2 - Prob. 6SPPACh. 2 - Prob. 7SPPACh. 2 - Prob. 8SPPACh. 2 - Prob. 9SPPACh. 2 - Prob. 10SPPA
Ch. 2 - Prob. 1IAPACh. 2 - Prob. 2IAPACh. 2 - Prob. 3IAPACh. 2 - Prob. 4IAPACh. 2 - Prob. 5IAPACh. 2 - Prob. 6IAPACh. 2 - Prob. 7IAPACh. 2 - Prob. 8IAPACh. 2 - Prob. 9IAPACh. 2 - Prob. 10IAPACh. 2 - Prob. 11IAPACh. 2 - Prob. 1MCQCh. 2 - Prob. 2MCQCh. 2 - Prob. 3MCQCh. 2 - Prob. 4MCQCh. 2 - Prob. 5MCQCh. 2 - Prob. 6MCQCh. 2 - Prob. 7MCQ
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