Suppose there are three firms in the economy: A, B and C. Estimate the GDP by...
Suppose there are three firms in the economy: A, B and C. Estimate the GDP by the Gross Value Added method:
Value Added by Firm A: $300
Value Added by Firm B: $250
Value Added by Firm C: $150
Homework Answers
GDP is the sum of value addition of all the firm A,B and C at all stage of level of production
GDP=300+250+150=700
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Suppose there are three firms in the economy: A, B and C.
Estimate the GDP by...
Suppose there are three firms in the economy: A, B and C. Estimate the GDP by...
Suppose there are three firms in the economy: A, B and C. Estimate the GDP by the Gross Value Added method: Value Added by Firm A: $300 Value Added by Firm B: $250 Value Added by Firm C: $150
41. Use the following information to answer the question: There are three firms in an economy:...
41. Use the following information to answer the question: There are three firms in an economy: X, Y. and 2 3.200 worth of poods from firm Y and SJ00 worth goods from firm Z, and produces 250 units of output st 54 Firmy buys $150 worth goods from firm X, and $250 worth goods form firm Zand produces 300 units of our per unit. Firm buys 575 worth goods from X, and $50 worth goods from firm Y, and produces...
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Question Consider three firms, A, B and C, all producing kilos of potatoes (per year) in a perfectly competitive market. The diagrams below show marginal cost curves for each of the three firms. Firm Firm Quantity MCC MC 2 200 200 300 900 Quantity of potatoes S000 Qty of pro 800 800 Quantity of potatoes a) Suppose each of Firms A, B, and C are producing 500 kilos of potatoes. Is Firm A productively efficient? Why? b) Suppose each of...
Suppose the US economy is at Potential GDP. Then, consumers and firms become pessimistic about future...
Suppose the US economy is at Potential GDP. Then, consumers and firms become pessimistic about future economic conditions, and consumption and investment decrease. In response to the decline in consumption and investment, the FED increases the money supply. Congress responds as well approving an increase in government spending and tax cuts. Illustrate this sequence of events using an Aggregate Demand/Aggregate Supply graph. State what happens with Real GDP, Prices, and the Unemployment rate after monetary and fiscal policies are implemented.
The graph models an economy in equilibrium with a real GDP of $180 billion. Suppose that...
The graph models an economy in equilibrium with a real GDP of $180 billion. Suppose that consumers' expectations about future incomes change, causing unplanned inventory investment to increase by $30 billion. Shift the planned agregate expenditure (AE) line to show the effect of this change. Planned aggregate spending (billions of dollars) 0 30 240 270 300 60 90 120 150 180 210 Real GDP billions of dollars) Planned aggregate spendin 0 30 60 90 120 150 180 210 Real GDP...
rm Firm B Firm C Values of Sales Intermediate goods Wages Interests payment:s Rent Profit $4,200...
rm Firm B Firm C Values of Sales Intermediate goods Wages Interests payment:s Rent Profit $4,200 (ore) S9,000 (steel $21,500 (car) $9,000 S0 $4,200 $2,000 $3,700 $10,000 $1,000 $600 $1,000 $300 $200 $9,000 $200 $500 $1,000 $21,500 $1,000 Total expenditure S4,200 HW3 (due next Wednesday, February 13,2019 at the beginning of class) Q1, Lets us consider an economy that consists of three firms (firm A, Firm B and Firm C) there is no foreign sector. Firm A mines the iron...
Scenario: Real GDP Suppose that in year 1 an economy produces 150 golf balls that sell...
Scenario: Real GDP Suppose that in year 1 an economy produces 150 golf balls that sell for $4.65 each and 75 pizzas that sell for $8 each. The next year the economy produces 170 golf balls that sell for $5.75 each and 80 pizzas that sell for $9 each. Reference: Ref 11-2 (Scenario: Real GDP) The value of nominal GDP in years 1 and 2 respectively is: A. $1,000; $1,005. B. $1297.50; $1697.50 C. $900; $1099.5 D. $1,000.50; $2,400.75 E....
Options for #1 One Two Three Options for #2 Production Intermediate Income The measurement of GDP...
Options for #1
One
Two
Three
Options for #2
Production
Intermediate
Income
The measurement of GDP can be accomplished indifferent but equivalent ways When GDP is measured by summing the value added by firms in the economy, the approach is said to be taken from the side.
Assume an economy has 2 firms. Firm A produces wheat and firm B produces bread. In...
Assume an economy has 2 firms. Firm A produces wheat and firm B produces bread. In a given year, firm A produces 50,000 bushels of wheat, sells 20,000 bushels of wheat to firm B at $3 per bushel, export 25,000 bushels of wheat at $3 per bushel and stores the rest as inventory. Firm A pays $50,000 in wages to consumers. Firm B produces 50,000 loaves of bread and sells all of it to domestic consumer at $2 per loaf....
Estimate the GDP of the economy in the following hypothetical economy: Product Quantity Price Market Value...
Estimate the GDP of the economy in the following hypothetical economy: Product Quantity Price Market Value Rollerskates 20 $10 Bycycles 30 $20 Cellphones 40 $100 Shirts 60 $15 Shoes 10 $25
41. Use the following information to answer the question: There are three firms in an economy: X, Y. and 2 3.200 worth of poods from firm Y and SJ00 worth goods from firm Z, and produces 250 units of output st 54 Firmy buys $150 worth goods from firm X, and $250 worth goods form firm Zand produces 300 units of our per unit. Firm buys 575 worth goods from X, and $50 worth goods from firm Y, and produces...
Question Consider three firms, A, B and C, all producing kilos of potatoes (per year) in a perfectly competitive market. The diagrams below show marginal cost curves for each of the three firms. Firm Firm Quantity MCC MC 2 200 200 300 900 Quantity of potatoes S000 Qty of pro 800 800 Quantity of potatoes a) Suppose each of Firms A, B, and C are producing 500 kilos of potatoes. Is Firm A productively efficient? Why? b) Suppose each of...
Suppose the US economy is at Potential GDP. Then, consumers and firms become pessimistic about future economic conditions, and consumption and investment decrease. In response to the decline in consumption and investment, the FED increases the money supply. Congress responds as well approving an increase in government spending and tax cuts. Illustrate this sequence of events using an Aggregate Demand/Aggregate Supply graph. State what happens with Real GDP, Prices, and the Unemployment rate after monetary and fiscal policies are implemented.
The graph models an economy in equilibrium with a real GDP of $180 billion. Suppose that consumers' expectations about future incomes change, causing unplanned inventory investment to increase by $30 billion. Shift the planned agregate expenditure (AE) line to show the effect of this change. Planned aggregate spending (billions of dollars) 0 30 240 270 300 60 90 120 150 180 210 Real GDP billions of dollars) Planned aggregate spendin 0 30 60 90 120 150 180 210 Real GDP...
rm Firm B Firm C Values of Sales Intermediate goods Wages Interests payment:s Rent Profit $4,200 (ore) S9,000 (steel $21,500 (car) $9,000 S0 $4,200 $2,000 $3,700 $10,000 $1,000 $600 $1,000 $300 $200 $9,000 $200 $500 $1,000 $21,500 $1,000 Total expenditure S4,200 HW3 (due next Wednesday, February 13,2019 at the beginning of class) Q1, Lets us consider an economy that consists of three firms (firm A, Firm B and Firm C) there is no foreign sector. Firm A mines the iron...
Options for #1
One
Two
Three
Options for #2
Production
Intermediate
Income
The measurement of GDP can be accomplished indifferent but equivalent ways When GDP is measured by summing the value added by firms in the economy, the approach is said to be taken from the side.
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