Official GDP may understate the actual output of an economy. Give one possible reason to explain...
Official GDP may understate the actual output of an economy. Give one possible reason to explain this.
Homework Answers
Official GDP (Ql) understate the actual GDP (Qs) of economy which means there is inflationary gap in the economy of (Qs - Ql). It could be due to rise in government spending, rise in net exports or population change which raised aggregate demand such that it intersect supply when output is Qs.
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Official GDP may understate the actual output of an economy.
Give one possible reason to explain...
1 Official GDP may understate the actual output of an economy. Give one possible reason to...
1 Official GDP may understate the actual output of an economy. Give one possible reason to explain this 2. The following graphs show the loanable funds market. Give an example scenario, which is represented by a shift from line 3 to line 2. Line 1 Line 4 Vertical Axis Υ Line 3 Une 2 С D Horizontal Axis
QUESTION 15 The GDP may actually understate the actual level of output in the economy by...
QUESTION 15 The GDP may actually understate the actual level of output in the economy by from five to thirty percent. That's because people have an incentive to avoid taxes or produce illegal goods and services in the A) economy
1. Assuming the price level decreased, and real gross domestic product (GDP) is greater than nominal...
1. Assuming the price level decreased, and real gross domestic product (GDP) is greater than nominal GDP. Is the current year before or after the base year? 2. Official GDP may understate the actual output of an economy. Give one possible reason to explain this.
1. Assuming the price level decreased, and real gross domestic product (GDP) is greater than nominal...
1. Assuming the price level decreased, and real gross domestic product (GDP) is greater than nominal GDP. Is the current year before or after the base year? 2. Official GDP may understate the actual output of an economy. Give one possible reason to explain this.
1. Real gross domestic product (GDP) increased from $16.62 trillion to $18.05 trillion, and the price...
1. Real gross domestic product (GDP) increased from $16.62 trillion to $18.05 trillion, and the price level increased from 120.0 to 123.4. Rounding to the nearest second decimal, how much was the growth rate of nominal GDP? 2 Official GDP may understate the actual output of an economy. Give one possible reason to explain this 3 The following graphs show the loanable funds market. Give an example scenario, which is represented by a shift from line 3 to line 2....
Discuss two reasons why official GDP figures may not reflect the actual level of production in...
Discuss two reasons why official GDP figures may not reflect the actual level of production in an economy.
(A) Real gross domestic product (GDP) increased from $16.62 trillion to $18.05 trillion, and the price...
(A) Real gross domestic product (GDP) increased from $16.62 trillion to $18.05 trillion, and the price level increased from 120.0 to 123.4. Rounding to the nearest second decimal, how much was the growth rate of nominal GDP? (B) A US computer company buys computers from a US company for their workers. Which category of US gross domestic product (GDP) is this included? (C, I, G, NX or none of the four) (C) Refer to the following table, compute the CPI...
plz thanks 7. Suppose the economy is currently in short run macroeconomic equilibrium, with actual GDP...
plz thanks
7. Suppose the economy is currently in short run macroeconomic equilibrium, with actual GDP bigger than potential GDP. (a) Depict this situation using AD-AS, being sure to label all curves and axes. What is the gap called? 5 points. (b) In the long run, what will happen to prices and output? Depict graphically and explain. 5 points.
f actual output exceeds potential output, the economy O is experiencing an inflationary gap. O may...
f actual output exceeds potential output, the economy O is experiencing an inflationary gap. O may be in a long-run equilibrium but is not in a short-run equilibrium. O is in neither a short-run nor long-run equilibrium. O is experiencing a recessionary gep.
Please give the answer and explain the reason!!!! 8. Which of the following is a possible...
Please give the answer and explain the
reason!!!!
8. Which of the following is a possible adjusting journal entry? 4 Debit Cash, credit Accounts Payable. Debit Service Revenue, credit Cash. Debit Salaries Expense, credit Salaries Payable. Debit Utilities Expense, credit Retained Earnings. i ove
1 Official GDP may understate the actual output of an economy. Give one possible reason to explain this 2. The following graphs show the loanable funds market. Give an example scenario, which is represented by a shift from line 3 to line 2. Line 1 Line 4 Vertical Axis Υ Line 3 Une 2 С D Horizontal Axis
QUESTION 15 The GDP may actually understate the actual level of output in the economy by from five to thirty percent. That's because people have an incentive to avoid taxes or produce illegal goods and services in the A) economy
1. Real gross domestic product (GDP) increased from $16.62 trillion to $18.05 trillion, and the price level increased from 120.0 to 123.4. Rounding to the nearest second decimal, how much was the growth rate of nominal GDP? 2 Official GDP may understate the actual output of an economy. Give one possible reason to explain this 3 The following graphs show the loanable funds market. Give an example scenario, which is represented by a shift from line 3 to line 2....
(A) Real gross domestic product (GDP) increased from $16.62 trillion to $18.05 trillion, and the price level increased from 120.0 to 123.4. Rounding to the nearest second decimal, how much was the growth rate of nominal GDP? (B) A US computer company buys computers from a US company for their workers. Which category of US gross domestic product (GDP) is this included? (C, I, G, NX or none of the four) (C) Refer to the following table, compute the CPI...
plz thanks
7. Suppose the economy is currently in short run macroeconomic equilibrium, with actual GDP bigger than potential GDP. (a) Depict this situation using AD-AS, being sure to label all curves and axes. What is the gap called? 5 points. (b) In the long run, what will happen to prices and output? Depict graphically and explain. 5 points.
f actual output exceeds potential output, the economy O is experiencing an inflationary gap. O may be in a long-run equilibrium but is not in a short-run equilibrium. O is in neither a short-run nor long-run equilibrium. O is experiencing a recessionary gep.
Please give the answer and explain the
reason!!!!
8. Which of the following is a possible adjusting journal entry? 4 Debit Cash, credit Accounts Payable. Debit Service Revenue, credit Cash. Debit Salaries Expense, credit Salaries Payable. Debit Utilities Expense, credit Retained Earnings. i ove
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