Question

Can you please help me with these problems?

2. You bought a used Altima in 2017, and one year later you sell t. And this car was produced in is car is considered as year GDP. Did you create any GDP here? 3. Suppose 10 tires are made by Goodyear Tire & Rubber Company, then 6 of them are bought by costumers and the rest of them are sold to Ford to assemble cars. The market value of tires are counted as GDP 4. Ford built 100 cars in 2017, but only sold 90 cars. Then the rest went to Ford's Ford's balance sheet, the expenditure is denoted as Suppose the market price for each car is $20,000, what is the GDP generated by Ford in 2017. S. Write down the formulas for both income and expenditure approach. expenditure - CtI+tCx-ome Year Personal consumption expenditures 20172018 Goods Services 4,156.14,267.7 9,165.3 9,411.9 Gross private domestic investment Fixed investment Inventories 3,342.5 3,507.4 25.5 36.3 Net exports of goods and services Exports Imports 2,350.22,477.4 2,928.63,116.6 Government consumption expenditures and gross investment 1,265.21,294.8 2,109.2 2,162.0 Federal State and local Total GDP Nominal GDP and Real GDP 7. Expenditure Price Quantity Item T-shirts Computer chips 4 In 2009 10 20 Security service1 15 İT-shirts In 2014 20 40 Computer chips 7 Security service 6 DCalculate the nominal GDP for both 2009 and 2014. Jake 2009 as base year, calculate the real GOP for both years.

Answer 1

Question 2

A final good is calculated in GDP of that year in which it has been produced.

The Altima is produced in 2014.

So,

This car is considered as year 2014 GDP.

When second hand or used goods are bought and sold then no GDP is created.

Thus, no GDP is created here.

Question 3

Goods sold for fiscal consumption are counted as part of GDP.

The company has produced 10 tires but has sold only 6 tires to customers for final consumption.

Rest of the tires are sold as intermediate goods.

So,

The market value of 6 tires are counted as GDP.