Distinguish the intermediate outlays that are excluded for the GDP statistic.
Distinguish the intermediate outlays that are excluded for the GDP statistic.
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Distinguish the intermediate outlays that are excluded for the
GDP statistic.
Identify the four major components of GDP. Classify expenditures that comprise each component of the GDP...
Identify the four major components of GDP. Classify expenditures that comprise each component of the GDP measure. Distinguish the intermediate outlays that are excluded for the GDP statistic
19. What is an intermediate good? Why is it excluded from GDP? Give a unique (not...
19. What is an intermediate good? Why is it excluded from GDP? Give a unique (not from the book or notes) example of an intermediate good and its corresponding final good that would be counted in GDP. (5 pts) Intermediate goods are products that are purchased for resale or further processing or manufacturing. Stone is an intermediate good and roads are the final goods.
2. Budget balances and the national debt The following table lists federal outlays, revenues, and GDP...
2. Budget balances and the national debt The following table lists federal outlays, revenues, and GDP for the U.S. economy during several years. Revenues (Billions of dollars) 2,025 Outlays (Billions of dollars) GDP (Billions of dollars) Year 2000 1,789 9,817 2001 1,991 10,128 1,853 10,470 2002 2003 1,863 2,011 2,160 2,293 1,783 10,961 2004 1,880 11,686 Plot the data for revenues and outlays as a percentage of GDP on the following graph, rounded to the nearest percent. Use the purple...
The graph shows the outlays and revenues curves for an economy Outlays and revenues (billions of...
The graph shows the outlays and revenues curves for an economy Outlays and revenues (billions of 2007 dollars) Actual real GDP is $1,300 billion 500- PotentiRevenues Draw a vertical line that shows a value of potential GDP such that the economy has a cyclical deficit. 400- 300 200- X That's incorrect X 100 What is the relationship between actual real GDP and potential GDP when the economy has a cyclical deficit? Outlays 1000 1100 1200 1300 1400 Real GDP billions...
Government outlays for Social Security can be reported in which of the following categories of GDP?...
Government outlays for Social Security can be reported in which of the following categories of GDP? Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click the option twice to empty the box. 2 Government consumption and investment Personal consumption 2 Nonresidential investment Residential invesment
3. Which of the following are included and which are excluded in calculating this year's GDP?...
3. Which of the following are included and which are excluded in calculating this year's GDP? Explain in each instance (a) Social Security checks received by a retired person (b) An increase in business inventories (c) The income of a tax accountant working for a business (d) Income received from interest on a corporate bond (e) The cashing in of a U.S. savings bond 4. Which of the following are included and which are excluded in calculating this year's GDP?...
The table shows the receipts and the outlays of a nation at each level of real...
The table shows the receipts and the outlays of a nation at each level of real GDP. Real GDP Outlays What is the budget deficit when real GDP is $3 trillion? Receipts (trillions of dollars) 0.1 0.2 0.3 0.4 0.5 0.4 0.3 When real GDP is $3 trillion, the budget deficit is $ trillion. >>> When you are asked to report a deficit, it is reported as a positive number. If you are asked to report the budget balance, and...
Question 4 (2 points) Which of the following should be EXCLUDED when calculating GDP? i) a...
Question 4 (2 points) Which of the following should be EXCLUDED when calculating GDP? i) a used textbook ii) a brand new car iii) steel purchased by a company making refrigerators i) only i) and it) om and i ii) and iii) i) and iii) Question 5 (2 points) When we say "economic growth, we are usually referring to: increasing real GDP over time
Which of the following is excluded from calculations of GDP? . Select one: O a. Goods...
Which of the following is excluded from calculations of GDP? . Select one: O a. Goods that bring little value to society. O b. Income received by managers of corporations. O c. Used items such as cars, and purchases on E-Bay. O d. Items that are exported for sale overseas. Question 29 Not yet answered Points out of 1.00 P Flag question Which of the following is government spending on goods and services? Select one: O a. Medicare benefits. O...
The government budget balance is the... Difference between government outlays and tax revenues Change in the...
The government budget balance is the... Difference between government outlays and tax revenues Change in the government debt that results from changes in fiscal policy The budget balance that arises because Real GDP differs from Potential GDP The budget balance that occurs when the economy is at full employment
19. What is an intermediate good? Why is it excluded from GDP? Give a unique (not from the book or notes) example of an intermediate good and its corresponding final good that would be counted in GDP. (5 pts) Intermediate goods are products that are purchased for resale or further processing or manufacturing. Stone is an intermediate good and roads are the final goods.
2. Budget balances and the national debt The following table lists federal outlays, revenues, and GDP for the U.S. economy during several years. Revenues (Billions of dollars) 2,025 Outlays (Billions of dollars) GDP (Billions of dollars) Year 2000 1,789 9,817 2001 1,991 10,128 1,853 10,470 2002 2003 1,863 2,011 2,160 2,293 1,783 10,961 2004 1,880 11,686 Plot the data for revenues and outlays as a percentage of GDP on the following graph, rounded to the nearest percent. Use the purple...
The graph shows the outlays and revenues curves for an economy Outlays and revenues (billions of 2007 dollars) Actual real GDP is $1,300 billion 500- PotentiRevenues Draw a vertical line that shows a value of potential GDP such that the economy has a cyclical deficit. 400- 300 200- X That's incorrect X 100 What is the relationship between actual real GDP and potential GDP when the economy has a cyclical deficit? Outlays 1000 1100 1200 1300 1400 Real GDP billions...
Government outlays for Social Security can be reported in which of the following categories of GDP? Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click the option twice to empty the box. 2 Government consumption and investment Personal consumption 2 Nonresidential investment Residential invesment
3. Which of the following are included and which are excluded in calculating this year's GDP? Explain in each instance (a) Social Security checks received by a retired person (b) An increase in business inventories (c) The income of a tax accountant working for a business (d) Income received from interest on a corporate bond (e) The cashing in of a U.S. savings bond 4. Which of the following are included and which are excluded in calculating this year's GDP?...
The table shows the receipts and the outlays of a nation at each level of real GDP. Real GDP Outlays What is the budget deficit when real GDP is $3 trillion? Receipts (trillions of dollars) 0.1 0.2 0.3 0.4 0.5 0.4 0.3 When real GDP is $3 trillion, the budget deficit is $ trillion. >>> When you are asked to report a deficit, it is reported as a positive number. If you are asked to report the budget balance, and...
Question 4 (2 points) Which of the following should be EXCLUDED when calculating GDP? i) a used textbook ii) a brand new car iii) steel purchased by a company making refrigerators i) only i) and it) om and i ii) and iii) i) and iii) Question 5 (2 points) When we say "economic growth, we are usually referring to: increasing real GDP over time
Which of the following is excluded from calculations of GDP? . Select one: O a. Goods that bring little value to society. O b. Income received by managers of corporations. O c. Used items such as cars, and purchases on E-Bay. O d. Items that are exported for sale overseas. Question 29 Not yet answered Points out of 1.00 P Flag question Which of the following is government spending on goods and services? Select one: O a. Medicare benefits. O...
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