Homework Answers
Correct option is (a).
Value of output produced within an economy, whether the output is produced by a domestic resident worker or a foreign resident worker, is included in GDP since the output is produced within the geographic border of the economy.
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. Which of the following items is included in U.S. GDP? /196 T -b ㆎ a....
Please explain and fill in. thank you:) 1. Activities included (and not included) in the calculation...
Please explain and
fill in. thank you:)
1. Activities included (and not included) in the calculation of GDP The gross domestic product (GDP) of the United States is defined as the market value of ▼ all final goods and services produced re United Statesin a given period of time market value of wholesale cost of Based on this definition, indicate which of the following transactions will s, directly increase) the GDP of the United States in 2017 cost of producing...
36. Which of the following items would NOT be included in basket of goods used to...
36. Which of the following items would NOT be included in basket of goods used to calculate the Core Consumer Price Index? a. Gasoline b. A new truck c. Clothing d. All of the above items are included in Core Consumer Price Index 38. Suppose that U.S. construction companies purchase Japanese-made heavy duty trucks at a reduced price compared to last year What effect will this purchase have on the U.S. GDP deflator and on the U.S. consumer price index?...
ECON 250 30. Which of the following is NOT included in U.S. GDP? the estimated rental...
ECON 250 30. Which of the following is NOT included in U.S. GDP? the estimated rental value of owner-occupied housing in the U.S.A. b.US. home grown garden for family consumption c. production of foreign citizens living in the United States d services such as those provided by American lawyers and America hair stylists working in the USA 31. One bag of flour is sold for $2.50 to a bakery, which uses the flour to bake bread. Five loafs of bread...
2. Activities included (and not included) in the calculation ofGDP The gross domestic product (GDP) of...
2. Activities included (and not included) in the calculation ofGDP The gross domestic product (GDP) of the United States is defined as the all in a given period of time. Based on this definition, indicate which of the following transactions will be included in (that is, directly increase) the GDP of the United States in 2020. 2020 GDP Included Excluded Scenario Sofaland, a Swedish furniture company, produces a table at a plant in Virginia on December 5, 2020. It sells...
Activities included (and not included) in the calculation ofGDP The gross domestic product (GDP) of the...
Activities included (and not included) in the calculation ofGDP The gross domestic product (GDP) of the United States is defined as the all in a given period of time. Based on this definition, indicate which of the following transactions will be included in (that is, directly increase) the GDP of the United States in 2017. Scenario 2017 GDP Included Excluded An accountant starts a client's 2017 tax return on April 14, 2018, finishing it just before midnight on April...
19. Which of the following values would be included in U.S. GDP for 2006? a. the...
19. Which of the following values would be included in U.S. GDP for 2006? a. the rent that John, an American citizen, would have paid on his home in New York in 2006 had he not owned that home b. the rent that Sarah, an American citizen, paid on her apartment in San Francisco in 2006 c. the value of the legal services provided by Carlos, an attorney and a Mexican citizen, who lived in Houston and practiced law there...
5. , which of the following statements is (are) correct? (x) Transactions involving items produced in...
5. , which of the following statements is (are) correct? (x) Transactions involving items produced in the past are included in current GDP because GDP measures the value of goods and services sold in the current year. (y) Robert, a United States citizen, works only in Mexico. The value added to production from his employment is included in the GDP of the United States, but not Mexican GDP. (z) GDP excludes items produced and sold illegally and items that are...
1) Defined as the following options: Wholesale cost of, Market Value of, or cost of producing...
1) Defined as the following options: Wholesale cost of, Market
Value of, or cost of producing
2) All: Final goods and services consumed, final goods and
services produced, or final and intermediate goods and services
produced
3) Within the United States, By U.S. Owned companies, or by U.S.
Citizens
2. Activities included (and not included) in the calcu lation of GDP all The gross domestic product (GDP) of the United States is defined as the in a given period of...
1. U.S. GDP includes estimates of the value of items that are produced and consumed at...
1. U.S. GDP includes estimates of the value of items that are produced and consumed at home, such as housework and car maintenance. a. True b. False 2. If the U.S. government reports that GDP in the third quarter was $16 trillion at an annual rate, then the amount of income and expenditure during quarter three was $4 trillion. a. True b. False 3. If consumption is 57000, exports are $600. government purchases are $2000. government transfers are $900, imports...
2 points 31. Which of the following items would be included in GDP in 2008?I. Payment...
2 points 31. Which of the following items would be included in GDP in 2008?I. Payment made to a mechanic who repaired your 2005 Toyota II. the fees charged by a lawyer for drawing your parents' will III. new care sales by a local car dealer IV. the value of new cars produced in 2008 but not sold in 2008 O A. All of the items are included O B. I, II, and III only O C. II and III...
Please explain and
fill in. thank you:)
1. Activities included (and not included) in the calculation of GDP The gross domestic product (GDP) of the United States is defined as the market value of ▼ all final goods and services produced re United Statesin a given period of time market value of wholesale cost of Based on this definition, indicate which of the following transactions will s, directly increase) the GDP of the United States in 2017 cost of producing...
36. Which of the following items would NOT be included in basket of goods used to calculate the Core Consumer Price Index? a. Gasoline b. A new truck c. Clothing d. All of the above items are included in Core Consumer Price Index 38. Suppose that U.S. construction companies purchase Japanese-made heavy duty trucks at a reduced price compared to last year What effect will this purchase have on the U.S. GDP deflator and on the U.S. consumer price index?...
ECON 250 30. Which of the following is NOT included in U.S. GDP? the estimated rental value of owner-occupied housing in the U.S.A. b.US. home grown garden for family consumption c. production of foreign citizens living in the United States d services such as those provided by American lawyers and America hair stylists working in the USA 31. One bag of flour is sold for $2.50 to a bakery, which uses the flour to bake bread. Five loafs of bread...
2. Activities included (and not included) in the calculation ofGDP The gross domestic product (GDP) of the United States is defined as the all in a given period of time. Based on this definition, indicate which of the following transactions will be included in (that is, directly increase) the GDP of the United States in 2020. 2020 GDP Included Excluded Scenario Sofaland, a Swedish furniture company, produces a table at a plant in Virginia on December 5, 2020. It sells...
19. Which of the following values would be included in U.S. GDP for 2006? a. the rent that John, an American citizen, would have paid on his home in New York in 2006 had he not owned that home b. the rent that Sarah, an American citizen, paid on her apartment in San Francisco in 2006 c. the value of the legal services provided by Carlos, an attorney and a Mexican citizen, who lived in Houston and practiced law there...
1) Defined as the following options: Wholesale cost of, Market
Value of, or cost of producing
2) All: Final goods and services consumed, final goods and
services produced, or final and intermediate goods and services
produced
3) Within the United States, By U.S. Owned companies, or by U.S.
Citizens
2. Activities included (and not included) in the calcu lation of GDP all The gross domestic product (GDP) of the United States is defined as the in a given period of...
1. U.S. GDP includes estimates of the value of items that are produced and consumed at home, such as housework and car maintenance. a. True b. False 2. If the U.S. government reports that GDP in the third quarter was $16 trillion at an annual rate, then the amount of income and expenditure during quarter three was $4 trillion. a. True b. False 3. If consumption is 57000, exports are $600. government purchases are $2000. government transfers are $900, imports...
2 points 31. Which of the following items would be included in GDP in 2008?I. Payment made to a mechanic who repaired your 2005 Toyota II. the fees charged by a lawyer for drawing your parents' will III. new care sales by a local car dealer IV. the value of new cars produced in 2008 but not sold in 2008 O A. All of the items are included O B. I, II, and III only O C. II and III...
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