Homework Answers
3.
(a) It is a transfer payment, so, it is not included in this year's gdp.
(b) Increase in business inventories will increase investment spending. Thus this is included in this year's gdp.
(c) This will be included in gdp because income approach to gdp includes the wages.
(d) This will be included in gdp because income approach to gdp includes the interest receipts.
(e) This is a financial transaction. So, this is not includded in this year's gdp.
(Note: As HOMEWORKLIB's policy, one question is to be answered at a time.)
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3. 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....
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....
Which of the following would not be included in the calculation of this year's GDP? a...
Which of the following would not be included in the calculation of this year's GDP? a tire purchased by Chevrolet. from a supplier all would be included a tire produced but not sold this year a tire purchased at CostCo by Michonne to replace a flat tire
Please determine if each question is included in GDP or not. Thank you. Examples: included in...
Please determine if each question is included in GDP or not.
Thank you.
Examples: included in GDP? • Interest on an Apple bond • Social security payments received by a retired worker Unpaid services of a family member for repainting the house • The income of a lawyer • The money received by student when she sells her economics textbook back to the bookstore • The monthly allowance a college student receives from her parents • Rent paid to the...
Which of the following would be included in the expenditures approach to calculating U.S. GDP? A....
Which of the following would be included in the expenditures approach to calculating U.S. GDP? A. wage and salary payments to U.S. workers B. interest paid on borrowed funds C. government payments of social security benefits D. purchases of new trucks by Federal Express E. wage payments to U.S. citizens working outside the U.S. Which is true of the short-run macro model? A. It is an attempt to explain why the economy tends to perform better in the short run...
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 are included in U.S. GDP calculations? Pl ease explain. a. cleaning services...
Which of the following are included in U.S. GDP calculations? Pl ease explain. a. cleaning services performed by Molly Maid Corporation b. lawn-mowing services performed by yourself c. drugs sold illegally on a local street corner d. prescription drugs manufactured in the United States and sold at a local pharmacy e. a rug woven by hand in Turkey f. air pollution that diminishes the quality of the air you breathe g. toxic-waste cleanup performed by a local company h. car...
Which of the following is included in GDP? "bads" such as pollution, congestion, and crime automobile...
Which of the following is included in GDP? "bads" such as pollution, congestion, and crime automobile manufacture production in the home the measurable effects of income distribution none of the above are included in real GDP calculations The account that records the receipts from the exports of goods and services sold abroad, the payments for imports of goods and services from abroad, net interest income paid abroad, and net transfers is the ________. international capital account current account official settlements...
Chapter 7 10. Defin production. How are net exports negative amount. e net exports. Explain how...
Chapter 7 10. Defin production. How are net exports negative amount. e net exports. Explain how U.S. exports and imports each affect domestic determined? Explain how net exports might be a 11. Contrast other for comparing changes in the standard of living over a the ideas of nominal GDP and real GDP. Why is one more reliable than the series of years? What is the price index and what is its role in differentiating nominal GDP and real GDP? 12....
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...
How can we mpras ouv euret messaqeS ans ueage ewnal messages Chapter 7 10. Define net...
How can we mpras ouv euret messaqeS ans ueage ewnal messages Chapter 7 10. Define net exports. Explain how U.S. exports and imports each affect production. How are net exports determined? Explain how net exports negative amount. might be a 11. Contrast the ideas of nominal GDP and real GDP. Why is one more reliable than the oth er for comparing changes in the standard of living over a series of years? What is the GDP price index and what...
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....
Please determine if each question is included in GDP or not.
Thank you.
Examples: included in GDP? • Interest on an Apple bond • Social security payments received by a retired worker Unpaid services of a family member for repainting the house • The income of a lawyer • The money received by student when she sells her economics textbook back to the bookstore • The monthly allowance a college student receives from her parents • Rent paid to the...
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
Chapter 7 10. Defin production. How are net exports negative amount. e net exports. Explain how U.S. exports and imports each affect domestic determined? Explain how net exports might be a 11. Contrast other for comparing changes in the standard of living over a the ideas of nominal GDP and real GDP. Why is one more reliable than the series of years? What is the price index and what is its role in differentiating nominal GDP and real GDP? 12....
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...
How can we mpras ouv euret messaqeS ans ueage ewnal messages Chapter 7 10. Define net exports. Explain how U.S. exports and imports each affect production. How are net exports determined? Explain how net exports negative amount. might be a 11. Contrast the ideas of nominal GDP and real GDP. Why is one more reliable than the oth er for comparing changes in the standard of living over a series of years? What is the GDP price index and what...
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