Foundations of Economics, Student Value Edition Plus MyLab Economics with eText -- Access Card Package (8th Edition)
8th Edition
ISBN: 9780134641843
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Question
Chapter 21, Problem 11IAPA
To determine
Appearance of sales and inventories of existing homes appear in the circular flow of expenditure and income.
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Students have asked these similar questions
1. Inventory is:
Group of answer choices
a. the total amount of goods that a company produces now, regardless of whether they've sold it or not.
b. the stock of goods that a company produced last year, but had to sell for below cost.
c. the stock of goods that a company produces now, but keeps to sell at a future time.
d. the stock of goods that a company produces and sells in a given time perio
2. The four categories of expenditure (spending) in the economy are wages, rent, interest, and profit.
Group of answer choices
True
False
(a)Explain the difference between GDP and GNP with an example.
(b)Table 1 shows some data on the prices and quantities for a simple economy that produces the following goods and services.
Table 1: Price and quantity for three types of product
Product
[Produk]
Year 2017
[Tahun 2017]
Year 2018
[Tahun 2018]
Year 2019
[Tahun 2019]
Price
(RM)
[Harga
(RM)]
Quantity
[Kuantiti]
Price
(RM)
[Harga
(RM)]
Quantity
[Kuantiti]
Price
(RM)
[Harga
(RM)]
Quantity
[Kuantiti]
A
1
180
1
200
1.25
200
B
90
75
90
100 …
Use the following data to work Problems 16 and 17. The table lists some macroeconomic data for
the United States in 2009.
Item Billions of dollars
Wages paid to labor 8,000
Consumption expenditure 10,000
Net operating surplus 3,400
Investment 1,500
Government expenditure 2,900
Net exports –340
Q no 16 Calculate U.S. GDP in 2009
Q no: 17 Explain the approach (expenditure or income) that you used to calculate GDP.
Chapter 21 Solutions
Foundations of Economics, Student Value Edition Plus MyLab Economics with eText -- Access Card Package (8th Edition)
Ch. 21.A - Prob. 1SPPCh. 21.A - Prob. 2SPPCh. 21.A - Prob. 3SPPCh. 21.A - Prob. 4SPPCh. 21.A - Prob. 5SPPCh. 21.A - Prob. 6SPPCh. 21.A - Prob. 7SPPCh. 21.A - Prob. 1IAPCh. 21.A - Prob. 2IAPCh. 21.A - Prob. 3IAP
Ch. 21.A - Prob. 4IAPCh. 21.A - Prob. 5IAPCh. 21.A - Prob. 6IAPCh. 21.A - Prob. 7IAPCh. 21 - Prob. 1SPPACh. 21 - Prob. 2SPPACh. 21 - Prob. 3SPPACh. 21 - Prob. 4SPPACh. 21 - Prob. 5SPPACh. 21 - Prob. 6SPPACh. 21 - Prob. 7SPPACh. 21 - Prob. 8SPPACh. 21 - Prob. 9SPPACh. 21 - Prob. 10SPPACh. 21 - Prob. 1IAPACh. 21 - Prob. 2IAPACh. 21 - Prob. 3IAPACh. 21 - Prob. 4IAPACh. 21 - Prob. 5IAPACh. 21 - Prob. 6IAPACh. 21 - Prob. 7IAPACh. 21 - Prob. 8IAPACh. 21 - Prob. 9IAPACh. 21 - Prob. 10IAPACh. 21 - Prob. 11IAPACh. 21 - Prob. 12IAPACh. 21 - Prob. 1MCQCh. 21 - Prob. 2MCQCh. 21 - Prob. 3MCQCh. 21 - Prob. 4MCQCh. 21 - Prob. 5MCQCh. 21 - Prob. 6MCQCh. 21 - Prob. 7MCQ
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