Homework Answers
6. The components of the GDP are consumption , investment, government expenditure and net exports. The defence spending is included in the GDP calculation and is one of the most important part. It is a major component under the government expenditure.
Ans: Government expenditure (included)
7. Buying a copier for business purposes is a type of business investment and will thus be counted under GDP calculations.
Ans: Investment (included)
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Question 6 (5 points) Identify how the following item is counted in GDP by the expenditure...
Question 4 (5 points) Identify how the following item is counted in GDP by the expenditure...
Question 4 (5 points) Identify how the following item is counted in GDP by the expenditure approach. Use C, I, G, and (X-M) to represent the spending categories, and use NC to indicate that the item is NOT counted in any of those spending categories. ITEM: Google buys control (purchases controlling shares of stock) in Apple. Question 5 (5 points) Identify how the following item is counted in GDP by the expenditure approach. Use C, I, G, and (X-M) to...
Problem #1 GDP calculated by the expenditure approach will b income approach, because OA. the dollar...
Problem #1 GDP calculated by the expenditure approach will b income approach, because OA. the dollar value of the expenditure on new goods and services in a year must be equal to he GDP calculated by the the dollar value of the income generated in that year the dollar value of the expenditure on new goods and services in a year is always less than the dollar value of the income generated in that year, since imports are subtracted from...
Using the expenditure approach to calculate current GDP, select the proper classification for each of the...
Using the expenditure approach to calculate current GDP, select the proper classification for each of the following transactions: 17 a. Nissan produces a car at its Tennessee plant in December, but does not intend to sell it until after the end of the year. Investment b. An auto parts maker buys an idle textile plant in North Carolina with the intent of converting it to a distribution center. Not counted points C. The U.S. Army rents a warehouse to store...
The following expenditure equation is utilised to measure the economy: GDP = C + + G...
The following expenditure equation is utilised to measure the economy: GDP = C + + G + (X-M) Analyse each of the situations below and state which expenditures (or parts of the expenditures) would be counted under which of the four segments of the GDP expenditure equation, ie C, I, G or (X-M). a. The purchase of Australian made furniture by a business for use in its cafe. b. The purchase of foreign made furniture by a business for use...
1. Aggregate expenditure and income The following table shows consumption (C), investment (I), government purchases (G),...
1. Aggregate expenditure and income The following table shows consumption (C), investment (I), government purchases (G), and net exports (X−IM) in a hypothetical economy for various levels of real GDP (Y). Assume that the price level remains unchanged at all levels of income. All figures are in billions of dollars. Compute total expenditure for each income level, and fill in the last column in the following table. Y C I G X−IM Total Expenditure 500 300 150 200 -100 600...
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....
91[30 points) Suppose the US economy is characterized by the following behavioral equations C6 CY Y...
91[30 points) Suppose the US economy is characterized by the following behavioral equations C6 CY Y -Y-T Investment expenditures and Government spending are exogenously en GDP in 2009 was roughly $16,000 billion. As you know GDP fell by approximately 6 percentate points in 2009 If the propensity to consume were 0.8. by how much would government spending have to have Increased to prevent a decrease in output If the propensity to consume were 0.8 by how much would prevent any...
QUESTION 1 The Bluth Company builds new residential homes and owns a frozen banana stand in...
QUESTION 1 The Bluth Company builds new residential homes and owns a frozen banana stand in Newport Beach, CA. The following transactions take place in the US. (The Bluth Company is a US company.) (1) Bluth Company pays for some real estate training course for one of its employees (2) Bluth Company sells a frozen banana to a US family (3) Bluth Company buys some chocolate from Switzerland for its banana stand (4) One of Bluth Company employees pays for a...
question 9 from A to F 9. (5 points) Please answer the following questions about the...
question 9 from A to F
9. (5 points) Please answer the following questions about the function fr) - 21² f(x) = 2.9 al num- increas- for the Instructions: . If you are asked for a function, enter a function. - If you are asked to find X- or y-values, enter either a number or a list of numbers separated by commas. If there are no solutions, enter None. . If you are asked to find an interval or union...
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...
Question 4 (5 points) Identify how the following item is counted in GDP by the expenditure approach. Use C, I, G, and (X-M) to represent the spending categories, and use NC to indicate that the item is NOT counted in any of those spending categories. ITEM: Google buys control (purchases controlling shares of stock) in Apple. Question 5 (5 points) Identify how the following item is counted in GDP by the expenditure approach. Use C, I, G, and (X-M) to...
Problem #1 GDP calculated by the expenditure approach will b income approach, because OA. the dollar value of the expenditure on new goods and services in a year must be equal to he GDP calculated by the the dollar value of the income generated in that year the dollar value of the expenditure on new goods and services in a year is always less than the dollar value of the income generated in that year, since imports are subtracted from...
Using the expenditure approach to calculate current GDP, select the proper classification for each of the following transactions: 17 a. Nissan produces a car at its Tennessee plant in December, but does not intend to sell it until after the end of the year. Investment b. An auto parts maker buys an idle textile plant in North Carolina with the intent of converting it to a distribution center. Not counted points C. The U.S. Army rents a warehouse to store...
The following expenditure equation is utilised to measure the economy: GDP = C + + G + (X-M) Analyse each of the situations below and state which expenditures (or parts of the expenditures) would be counted under which of the four segments of the GDP expenditure equation, ie C, I, G or (X-M). a. The purchase of Australian made furniture by a business for use in its cafe. b. The purchase of foreign made furniture by a business for use...
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....
91[30 points) Suppose the US economy is characterized by the following behavioral equations C6 CY Y -Y-T Investment expenditures and Government spending are exogenously en GDP in 2009 was roughly $16,000 billion. As you know GDP fell by approximately 6 percentate points in 2009 If the propensity to consume were 0.8. by how much would government spending have to have Increased to prevent a decrease in output If the propensity to consume were 0.8 by how much would prevent any...
question 9 from A to F
9. (5 points) Please answer the following questions about the function fr) - 21² f(x) = 2.9 al num- increas- for the Instructions: . If you are asked for a function, enter a function. - If you are asked to find X- or y-values, enter either a number or a list of numbers separated by commas. If there are no solutions, enter None. . If you are asked to find an interval or union...
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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