Homework Answers
Answer)
In the GDP, the underground activities and the personal services rendered to households are not included.
GDP of upper Mongoose is calculated as:
Net exports + Consumption expenditure + Investment + Purchases
GDP = 50 + 300 + 100 + 50
GDP = $500 billion
(b)
Undergound economy = $75 billion
Percentage share of Underground economy = (75/500) × 100 = 15%
(c)
If the "Stay-at-services" are also included,
New GDP = 500 + 25 = $525 billion
Increase in GDP = $25 billion
Percentage increase in GDP = (25/500)× 100 = 5%
Add Answer to:
The data for the country of Upper Mongoose are given below. All figures are in billions...
ECO 2251
Data for the country Upper Mongoose is given in the table below:CategoryValueNet exports$50 billionValue of new goods and services produced in the underground economy$80 billionPersonal consumption expenditures$450 billionValue of the services of stay-at-home parents$30 billionGross domestic investment$100 billionGovernment purchases$100 billionTotal$810 billionWhat is Upper Mongoose’s GDP for the year? $ billionWhat is the size of the underground economy as a percentage of GDP? %By what percentage would GDP be boosted if the value of the services of stay-at-home spouses were included...
The data in columns 1 and 2 in the table below are for a private closed economy Instructions: For all parts, enter...
The data in columns 1 and 2 in the table below are for a private closed economy Instructions: For all parts, enter your answers as whole numbers it you are entering any negative numbers be sure to include a negative sign H in front of those numbers a Use columns 1 and 2 to determine the equilibrium GDP for this hypothetical economy b. Now open up this economy to international trade by including the export and import figures of columns...
Alpha's balance-of-payments data are shown below. All figures are in billions of dollars. Alpha's Balance of...
Alpha's balance-of-payments data are shown below. All figures are in billions of dollars. Alpha's Balance of Payments Data Merchandise exports 400 Service imports 30 Net Unilateral transfers 15 Net Change in foreign assets at home (financial efforts) 355 Merchandise imports 600 Service exports 80 Net change in domestic liabilities abroad (financial outflows) -220 The balance of trade is $ billion. (Enter your response as a whole number and include a minus sign if necessary. During any designated period, all payments...
Award 4.00 points The data in columns 1 and 2 in the table below are for...
Award 4.00 points The data in columns 1 and 2 in the table below are for a private closed economy Instructions: For all parts, enter your answers as whole numbers If you are entering any negative numbers be sure to include a of those numbers a Use columns 1 and 2 to determine the equilibrium GDP for this hypothetical economy b Now open up this economy to international trade by including the export and import figures of columns 3 and...
The table below shows the values for several different components of GDP Value (billions of dollars)...
The table below shows the values for several different components of GDP Value (billions of dollars) 266 Personal consumption expenditures Net foreign factor income Transter payments Rents Consumption of fixed capital (depreciation Statistical discrepancy Social Security contributions Interest Proprietors' income Net exports Dividends Compensation of employees Taxes on production and imports Undistributed corporate profits Personal taxes Corporate income taxes Corporate profits 15 12 10 23 12 16 263 16 46 61 Government purchases Net private domestic investment Personal saving 10...
The data in columns 1 and 2 in the table below are for a private closed economy Instructions: For all parts,...
The data in columns 1 and 2 in the table below are for a private closed economy Instructions: For all parts, enter your answers as whole numbers. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers. a. Use columns 1 and 2 to determine the equilibrium GDP for the private closed economy. $[ 400 billion b. Now open up this economy to international trade by including the export and...
The data in columns 1 and 2 in the table below are for a private closed...
The data in columns 1 and 2 in the table below are for a private closed economy. Instructions: For all parts, enter your answers as whole numbers. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers a. Use columns 1 and 2 to determine the equilibrium GDP for this hypothetical economy.$ billion. b. Now open up this economy to international trade by including the export and import figures of...
The following table shows the data for a hypothetical economy in a specific year All figures...
The following table shows the data for a hypothetical economy
in a specific year All figures are in billions of dollars
The following table shows the data for a hypothetical economy in a specific year. All figures are in billions of dollars. Value $80 Category Personal consumption expenditures Purchases of stocks and bonds Net exports Government purchases Sales of secondhand items Gross investment 25 Instructions: Enter your answer as a whole number What is the country's GDP for the year?...
Below is a list of domestic output and national income figures for a certain year. All...
Below is a list of domestic output and national income figures for a certain year. All figures are in billions. The questions that follow ask you to determine the major national income measures by both the expenditures and the income approaches. The results you obtain with the different methods should be the same. Value Value $285 12 Category Personal consumption expenditures Net foreign factor income Transfer payments Rents Statistical discrepancy Consumption of fixed capital (depreciation) Social Security contributions Interest Proprietors'...
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (NI. All figures...
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (NI. All figures are in billions. Category Compensation of employees U.S. exports of goods and services Consumption of fixed capital Government purchases Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services Personal taxes Net foreign factor income Personal consumption expenditures Statistical discrepancy Value $194.2 17.8 11.8 59.4 14.4 52.1 13.9 16.5 40.5 2.2 219.1 Instructions: Round your answers to...
The data in columns 1 and 2 in the table below are for a private closed economy Instructions: For all parts, enter your answers as whole numbers it you are entering any negative numbers be sure to include a negative sign H in front of those numbers a Use columns 1 and 2 to determine the equilibrium GDP for this hypothetical economy b. Now open up this economy to international trade by including the export and import figures of columns...
Award 4.00 points The data in columns 1 and 2 in the table below are for a private closed economy Instructions: For all parts, enter your answers as whole numbers If you are entering any negative numbers be sure to include a of those numbers a Use columns 1 and 2 to determine the equilibrium GDP for this hypothetical economy b Now open up this economy to international trade by including the export and import figures of columns 3 and...
The table below shows the values for several different components of GDP Value (billions of dollars) 266 Personal consumption expenditures Net foreign factor income Transter payments Rents Consumption of fixed capital (depreciation Statistical discrepancy Social Security contributions Interest Proprietors' income Net exports Dividends Compensation of employees Taxes on production and imports Undistributed corporate profits Personal taxes Corporate income taxes Corporate profits 15 12 10 23 12 16 263 16 46 61 Government purchases Net private domestic investment Personal saving 10...
The data in columns 1 and 2 in the table below are for a private closed economy Instructions: For all parts, enter your answers as whole numbers. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers. a. Use columns 1 and 2 to determine the equilibrium GDP for the private closed economy. $[ 400 billion b. Now open up this economy to international trade by including the export and...
The data in columns 1 and 2 in the table below are for a private closed economy. Instructions: For all parts, enter your answers as whole numbers. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers a. Use columns 1 and 2 to determine the equilibrium GDP for this hypothetical economy.$ billion. b. Now open up this economy to international trade by including the export and import figures of...
The following table shows the data for a hypothetical economy
in a specific year All figures are in billions of dollars
The following table shows the data for a hypothetical economy in a specific year. All figures are in billions of dollars. Value $80 Category Personal consumption expenditures Purchases of stocks and bonds Net exports Government purchases Sales of secondhand items Gross investment 25 Instructions: Enter your answer as a whole number What is the country's GDP for the year?...
Below is a list of domestic output and national income figures for a certain year. All figures are in billions. The questions that follow ask you to determine the major national income measures by both the expenditures and the income approaches. The results you obtain with the different methods should be the same. Value Value $285 12 Category Personal consumption expenditures Net foreign factor income Transfer payments Rents Statistical discrepancy Consumption of fixed capital (depreciation) Social Security contributions Interest Proprietors'...
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (NI. All figures are in billions. Category Compensation of employees U.S. exports of goods and services Consumption of fixed capital Government purchases Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services Personal taxes Net foreign factor income Personal consumption expenditures Statistical discrepancy Value $194.2 17.8 11.8 59.4 14.4 52.1 13.9 16.5 40.5 2.2 219.1 Instructions: Round your answers to...
Most questions answered within 3 hours.
-
Write a C++ program that will convert distance measurements from
miles to kilometers. Specifically, the program...
asked 1 minute ago -
Given the following stresses (in MP a); in each case:
(a) Find the principal stresses σ1;...
asked 5 minutes ago -
You are one of the first engineers hired into the
manufacturing engineering department at a brand...
asked 10 minutes ago -
Suppose car models A, B, and C are popular among drivers.
Suppose 12% of the drivers...
asked 27 minutes ago -
write a program that finds the number of zeros in an 8-bit data
item using assembly...
asked 28 minutes ago -
Which statement is always true: The total energy of a closed
system...
A) is always equally...
asked 42 minutes ago -
find the critical value associated with a right sided hypothesis of
the mean using a sample...
asked 2 hours ago -
Which of the following statements is true with respect to a
simple linear regression model?
a....
asked 3 hours ago -
The energy required to remove an electron from a surface of a
solid element is called...
asked 4 hours ago -
How would you train your employees to avoid risks of using
mobile devices?
asked 5 hours ago -
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 6 hours ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 6 hours ago