Homework Answers
1.Not included because it is not an economic transaction.
2.Included.
Any transaction for which money is exchanged is an economic transaction and is included in GDP.
3.Included in investment spending.
4.Not included.
Used goods are not included in calculating GDP.
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Styles 1. Say whether each of the following is or is not counted (directly) as part...
please work on that carefully. thank you 1. Say whether each of the following is or...
please work on that carefully. thank you 1. Say whether each of the following is or is not counted (directly) as part of GDP. a. David mows his lawn. b. David starts a landscaping company and mows his neighbor’s lawn for money. c. David buys a new lawnmower for his landscaping business. d. David buys a used truck for his business. 2. Say which category of GDP each of the following falls into. a. A sewing machine b. A cheeseburger...
my 2 Subtitle Subtle Em Emphasis Paragraph Styles 1. GDP is defined as the a value...
my 2 Subtitle Subtle Em Emphasis Paragraph Styles 1. GDP is defined as the a value of all goods and services produced within a country in a given period of time. b. value of all goods and services produced by the citizens of a country, regardless of where they are living in a given period of time. value of all final goods and services produced within a country in a given period of time. value of all final goods and...
1. State whether each of the following statements is true or false, and explain why. a....
1. State whether each of the following statements is true or false, and explain why. a. An example of a discouraged worker is someone who is suddenly laid off from his/her job, is still looking for work, but has received no other job offers at the moment. b. An increase in the unemployment rate is only due to a smaller fraction of the population being employed. c. Natural unemployment includes temporary unemployment caused by new labor entry or job-switching, as...
1. During a given year, the following activities occur in a simple economy consisting of a miller and a baker The mil...
1. During a given year, the following activities occur in a simple economy consisting of a miller and a baker The miller pays his workers $ 250,000 to mill 120 tons of flour. The flour is then sold to a baker for $ 530,000. The baker pays his workers 340,000 to make 750,000 loaves of bread, which she then sells directly to consumers for $ 1,000,000. a. Using the "final goods" approach, what is the GDP in this economy? b....
PLEASE HELP WITH QUESTION 6,7,8 THANK YOU! PART 1Introduction c. A homemaker enters the workforce, taking...
PLEASE HELP WITH QUESTION 6,7,8 THANK YOU!
PART 1Introduction c. A homemaker enters the workforce, taking a job year (a few years ago), the production and price da ta that will pay $40,000 over the year. The home were as follows: maker must pay $16,000 over the year for profes- Quantity 3000 bags 6000 bunches 8000 bags Fruit Price sional child care services Apples Bananas ag d. A Japanese company builds an auto plant in Tennessee for $100,000,000, using only...
QUESTION 1 AlpenPleasure Co. produces 1000 boxes of chocolate. Each box sells for $30. AlpenPleasure pays...
QUESTION 1 AlpenPleasure Co. produces 1000 boxes of chocolate. Each box sells for $30. AlpenPleasure pays wages of $10,000 and buys $15,000 worth of cocoa beans and other ingredients needed to produce the chocolate. What is AlpenPleasure's contribution (value-added) to GDP? $5,000 $45,000 $15,000 $20,000 QUESTION 2 There is currently a lot of debate in the U.S. about raising the minimum wage. As a contribution to this debate, the Wall Street Journal recently reported the following numbers: In 1980, the...
Q1 Which of the following are included and which are excluded in calculating this year's GDP....
Q1 Which of the following are included and which are excluded in calculating this year's GDP. Explain in each instance. a. A monthly scholarship cheque received by an economics student b. The purchase of an almost new tractor by farmer Kojo C. The cashing in of a savings bond d. An increase in business inventories e. Tim Horton's purchases a corner grocery store f. Fearless Qweenie Kong, a stuntwoman, purchases a life insurance policy for a billion dollars ($) g....
2. Download the annual real GDP and GDP data of the United States 1950-2018 from FRED....
2. Download the annual real GDP and GDP data of the United States 1950-2018 from FRED. For the real GDP, the data online is chain-weighted and uses 2012 as the base year. In the lecture hursday, I showed you the detailed method and calculated the new chain-weighted real GDP when 1990 is the base year. You are required to calculate a new sequence of chain- weighted real GDP given a new base-year. The base year you should use in your...
MULTIPLE CHOICE 1) Which of the following is NOT an investment as defined in the text?...
MULTIPLE CHOICE 1) Which of the following is NOT an investment as defined in the text? A) a certificate of deposit issued by a bank B) a new automobile C) a United States Saving Bond D) a mutual fund held in a retirement account 2) Which of the following is NOT traded in the securities markets? A) stocks B) bonds C) derivatives D) real estate 3) The governmental agency that oversees the capital markets is the A) Federal Trade Commission....
Chapter overview 1. Reasons for international trade Resources reasons Economic reasons Other reasons 2. Difference between...
Chapter overview 1. Reasons for international trade Resources reasons Economic reasons Other reasons 2. Difference between international trade and domestic trade More complex context More difficult and risky Higher management skills required 3. Basic concept s relating to international trade Visible trade & invisible trade Favorable trade & unfavorable trade General trade system & special trade system Volume of international trade & quantum of international trade Commodity composition of international trade Geographical composition of international trade Degree / ratio of...
my 2 Subtitle Subtle Em Emphasis Paragraph Styles 1. GDP is defined as the a value of all goods and services produced within a country in a given period of time. b. value of all goods and services produced by the citizens of a country, regardless of where they are living in a given period of time. value of all final goods and services produced within a country in a given period of time. value of all final goods and...
1. State whether each of the following statements is true or false, and explain why. a. An example of a discouraged worker is someone who is suddenly laid off from his/her job, is still looking for work, but has received no other job offers at the moment. b. An increase in the unemployment rate is only due to a smaller fraction of the population being employed. c. Natural unemployment includes temporary unemployment caused by new labor entry or job-switching, as...
1. During a given year, the following activities occur in a simple economy consisting of a miller and a baker The miller pays his workers $ 250,000 to mill 120 tons of flour. The flour is then sold to a baker for $ 530,000. The baker pays his workers 340,000 to make 750,000 loaves of bread, which she then sells directly to consumers for $ 1,000,000. a. Using the "final goods" approach, what is the GDP in this economy? b....
PLEASE HELP WITH QUESTION 6,7,8 THANK YOU!
PART 1Introduction c. A homemaker enters the workforce, taking a job year (a few years ago), the production and price da ta that will pay $40,000 over the year. The home were as follows: maker must pay $16,000 over the year for profes- Quantity 3000 bags 6000 bunches 8000 bags Fruit Price sional child care services Apples Bananas ag d. A Japanese company builds an auto plant in Tennessee for $100,000,000, using only...
Q1 Which of the following are included and which are excluded in calculating this year's GDP. Explain in each instance. a. A monthly scholarship cheque received by an economics student b. The purchase of an almost new tractor by farmer Kojo C. The cashing in of a savings bond d. An increase in business inventories e. Tim Horton's purchases a corner grocery store f. Fearless Qweenie Kong, a stuntwoman, purchases a life insurance policy for a billion dollars ($) g....
2. Download the annual real GDP and GDP data of the United States 1950-2018 from FRED. For the real GDP, the data online is chain-weighted and uses 2012 as the base year. In the lecture hursday, I showed you the detailed method and calculated the new chain-weighted real GDP when 1990 is the base year. You are required to calculate a new sequence of chain- weighted real GDP given a new base-year. The base year you should use in your...
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