If Joan receives a Social Security check, would we include that transfer payment from the government...
Homework Answers
At the time of GDP calculation, any transfer payment from the government doesn't include in GDP.
Because these payments are not made against for any goods and services so they do not represent any form of demand or GDP.
Thus, social security check (transfer payment) received by Joan from government would not include in GDP.
Add Answer to:
If
Joan receives a Social Security check, would we include that
transfer payment from the government...
Problem set #1 1) If Joan receives a Social Security check, would we include that transfer...
Problem set #1 1) If Joan receives a Social Security check, would we include that transfer payment from the government in this year’s GDP? Why or why not? No, because transfer payments are not considered a part of GDP 2) In the following situations, explain what is counted in this year’s GDP: A. You bought a new Wii at GameStop last year and resold it on eBay this year B. You spend your Saturday cutting grass at your house C....
A Texas household receives a Social Security check for $1500, which it uses to purchase a...
A Texas household receives a Social Security check for $1500, which it uses to purchase a $40 pair of shoes made in Thailand by a Thai firm, a $1240 television made by a Korean firm in Korea, and $220 on groceries from a local store. As a result, U.S. GDP
Identify whether each of the following government expenditures is a payment for goods and services or...
Identify whether each of the following government expenditures is a payment for goods and services or a transfer payment: a) A local public school hires a new teacher. Transfer payment Payment for goods and services b) Medicare pays for a knee replacement for a 66-year old. Payment for goods and services Transfer payment c) A poor family gets food stamps. Payment for goods and services Transfer payment d) The Social Security Administration issues a monthly check to a retiree. Payment...
14. In computing GDP, which of the following represents a “transfer payment” as defined by the...
14. In computing GDP, which of the following represents a “transfer payment” as defined by the textbook? (x) You transfer $1,000 from your bank account to a mutual fund. (y) Your grandfather receives his Social Security check from the U.S. government. (z) The government sends an unemployment insurance check to Boris after he was laid off from his job. A. (x), (y) and (z) B. (x) and (y) only C. (x) and (z) only D. (y) and (z) only E....
3. The number of children (in thousands) receiving Social Security for each year from 1988 to 1995 can be modeled u...
3. The number of children (in thousands) receiving Social Security for each year from 1988 to 1995 can be modeled using the following polynomial: N()3.7475+509436-97.3314+32076918 where t is time in years since 1988. a) Graph this function in an appropriate window, label completely b) What is the y-intercept, and what does this tell you in practical terms? Ansers should include complete sentences in contert.) c) How many children on social security does this model predict in the year 1990? (3,186,000...
RUE AND FLASE 1. Transfer payments, including Social Security and welfare and medical assistance, account for...
RUE AND FLASE 1. Transfer payments, including Social Security and welfare and medical assistance, account for nearly 60 percent of federal government expenditures. 2. State governments do not fund any part of Medicaid. ent consumption does not require resources to be reallocated from private to government use. 4. Positive economic analysis is based on underlying value judgments 5. "The government should abolish tariffs to achieve efficiency" is a normative statement. 6. Efficient outcomes are often viewed as inequitable. 7. A...
1. We know the Social Security Primary Insurance Amount (PIA) is determined using a formula based...
1. We know the Social Security Primary Insurance Amount (PIA) is determined using a formula based on an individuals Average Indexed Monthly Earnings (AIME). The AIME is indexed for inflation and averaged out over 35 years of earnings (420 months). Let's suppose John currently has an AIME of $7000. Based on this amount, what is his PIA for 2020? • 90% • 32% • 15% 2. If John had an opportunity to work 3 more years, with a significant increase...
19. Which of the following is included in government expenditures when measuring GDP? A) Social Security...
19. Which of the following is included in government expenditures when measuring GDP? A) Social Security payments B) unemployment compensation payments C) pension payment made to past presidents D) the current president's salary 20. Transfer payments A) are included in the government expenditure category in gross domestic product. B) refer to all payments made to households by governments. C) refer to payments made by the government that are not made to purchase a good or service. D) are made by...
13. The official census measure of income unequal than it actually is not include capital gains,...
13. The official census measure of income unequal than it actually is not include capital gains, which makes the distribution of income less merudes capital gains, which should not be included as they are not earned income. c) includes the effects of transfer payments from the government like social security, which should not be included as these benefits cannot be spent like regular income. d) does not include the effect of transfer payments from the government like social security, because...
INSTRUCTIONS The web-based assignment for this unit considers social security. Over the next few decades, retiring...
INSTRUCTIONS The web-based assignment for this unit considers social security. Over the next few decades, retiring baby boomers will increase outflows in the social security system. Will there be sufficient funds to keep social security going; and should it be kept going? The issue has become highly politicized, often obscuring facts about the system and limits to what we know about future economic data. In this Web Assignment, you look into Social Security currently and its possible need for reform....
3. The number of children (in thousands) receiving Social Security for each year from 1988 to 1995 can be modeled using the following polynomial: N()3.7475+509436-97.3314+32076918 where t is time in years since 1988. a) Graph this function in an appropriate window, label completely b) What is the y-intercept, and what does this tell you in practical terms? Ansers should include complete sentences in contert.) c) How many children on social security does this model predict in the year 1990? (3,186,000...
RUE AND FLASE 1. Transfer payments, including Social Security and welfare and medical assistance, account for nearly 60 percent of federal government expenditures. 2. State governments do not fund any part of Medicaid. ent consumption does not require resources to be reallocated from private to government use. 4. Positive economic analysis is based on underlying value judgments 5. "The government should abolish tariffs to achieve efficiency" is a normative statement. 6. Efficient outcomes are often viewed as inequitable. 7. A...
1. We know the Social Security Primary Insurance Amount (PIA) is determined using a formula based on an individuals Average Indexed Monthly Earnings (AIME). The AIME is indexed for inflation and averaged out over 35 years of earnings (420 months). Let's suppose John currently has an AIME of $7000. Based on this amount, what is his PIA for 2020? • 90% • 32% • 15% 2. If John had an opportunity to work 3 more years, with a significant increase...
19. Which of the following is included in government expenditures when measuring GDP? A) Social Security payments B) unemployment compensation payments C) pension payment made to past presidents D) the current president's salary 20. Transfer payments A) are included in the government expenditure category in gross domestic product. B) refer to all payments made to households by governments. C) refer to payments made by the government that are not made to purchase a good or service. D) are made by...
13. The official census measure of income unequal than it actually is not include capital gains, which makes the distribution of income less merudes capital gains, which should not be included as they are not earned income. c) includes the effects of transfer payments from the government like social security, which should not be included as these benefits cannot be spent like regular income. d) does not include the effect of transfer payments from the government like social security, because...
INSTRUCTIONS The web-based assignment for this unit considers social security. Over the next few decades, retiring baby boomers will increase outflows in the social security system. Will there be sufficient funds to keep social security going; and should it be kept going? The issue has become highly politicized, often obscuring facts about the system and limits to what we know about future economic data. In this Web Assignment, you look into Social Security currently and its possible need for reform....
Most questions answered within 3 hours.
-
find the critical value associated with a right sided hypothesis of
the mean using a sample...
asked 36 minutes ago -
Which of the following statements is true with respect to a
simple linear regression model?
a....
asked 1 hour ago -
The energy required to remove an electron from a surface of a
solid element is called...
asked 2 hours ago -
How would you train your employees to avoid risks of using
mobile devices?
asked 3 hours ago -
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 4 hours ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 4 hours ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 5 hours ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 6 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 6 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 8 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 9 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 9 hours ago