Homework Answers
1. Gdp= consumption + investment + government expenditure + net exports.
Gdp=14 + 4 + 4 + (10-3)
=$29 trillion
2. Saving - tax = investment
Saving -3 =4
Saving =$ 7 trillion
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Question 1 Consider the following nominal expenditure components for a fictional economy in a given year...
To derive GDP using the expenditure approach, which of the following components are added togehter? A....
To derive GDP using the expenditure approach, which of the following components are added togehter? A. consumption expenditures, gross private domestic investment, and government expenditures B. consumption expenditures, gross private domestic investment, government expenditures, and net exports C. consumption expenditures, government expenditures, and net exports D. consumption expenditures, gross private domestic investment, and net exports
Question 2 Not yet answered Points out of 1.00 Flag question What is consumption in this...
Question 2 Not yet answered Points out of 1.00 Flag question What is consumption in this economy? In trillions of dollars GDP Government Purchases Transfer Payments Exports Imports Net foreign factor income 5.0 0.2 0.4 0.5 0.4 Select one: a. Not enough information to compute consumption b. 3.6 trillion C. 4.1 trillion d. 3.9 trillion
Calculate the four components of expenditure and GDP for the following economy using data from the...
Calculate the four components of expenditure and GDP for the following economy using data from the table below Instructions: Enter your response as an integer value GDP Consumption expenditures Exports Government purchases of goods and services Construction of new homes and apartments Sales of existing homes and apartments Imports Beginning-of-year inventory stocks End-of-year inventory stocks Business fixed investment Government payments to retirees Household purchases of durable goods $600 $75 $200 $100 $200 $50 $100 $50 $100 $100 $150 Consumption expenditures:...
Question 2 (1 point) In an open economy suppose that GDP is $12 trillion. Consumption is...
Question 2 (1 point) In an open economy suppose that GDP is $12 trillion. Consumption is $8 trillion and government spending is $2 trillion, Taxes are $0.5 trillion. Exports are $1 trillion and imports are $3 trillion. What is private saving? $4 trillion $3.5 trillion $2.5 trillion $1.5 trillion Question 1 (1 point) Interest rate (%) Supply of loanable funds Demand for loanable funds 0 10 20 30 40 50 60 70 80 90 100 Quantity of loanable funds (billions...
r components of aggregate expenditure and GDP for the following economy using data from the table...
r components of aggregate expenditure and GDP for the following economy using data from the table below. Instructions: Enter your responses as whole numbers. GDP Data Consumption expenditures $600 Exports $75 Government purchases of goods and services $200 Construction of new homes and apartments $100 Sales of existing homes and apartments $200 Imports $50 Beginning-of-year inventory stocks $100 End-of-year inventory stocks $125 Business fixed investment $100 Government payments to retirees $100 Household purchases of durable goods $150 Consumption expenditures: $...
4. Computing GDP using the expenditure approach The following table shows data on consumption, investment, exports,...
4. Computing GDP using the expenditure approach The following table shows data on consumption, investment, exports, imports, and government purchases for the United States in 2007, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the following table to calculate GDP Components Consumption (C) Investment (I) Exports (EX) Imports (IM) Net exports of goods and services (NX) Government purchases (G) Gross domestic product (GDP) $9,734.20 $2,125.40 $1,643.00 $2,351.00...
In the first quarter of 2020, the annualized nominal United States GDP components were as follows...
In the first quarter of 2020, the annualized nominal United States GDP components were as follows ($. billions): Personal Consumption (C) 14.583.3 Gross Private Domestic Investment (1) 3.629.0 Exports 2.420.9 Imports 2.945.6 Government Expenditures (G) 3.852.0 Calculate the value of Q2 2020 GDP based on these values and enter your response below:
3. Consider the following table for Canada's GDP in 2016 Components of GDP in 2016 (billions...
3. Consider the following table for Canada's GDP in 2016 Components of GDP in 2016 (billions of dollars) Category Personal expenditure on consumer goods and services Durable goods 231.2 273.4 648.9 28.6 Non-durable goods Services Non-profit institutions serving households' final consumption expenditure General government's final consumption expenditure Business gross fixed capital formation 429.8 Residential structures 154.1 Non-residential structures Machinery and equipment 80.2 33.3 2.8 Intellectual property products Non-profit institutions serving households' gross fixed capital formation General government's gross fixed capital...
QUESTION 3 Tribons of dolers GDP Consumption Government spending Exports Imports Budget balance Given the values...
QUESTION 3 Tribons of dolers GDP Consumption Government spending Exports Imports Budget balance Given the values in the table, and assuming transfer payments trillion (Round to one decimal place.) , compute the value of private saving. Private saving QUESTION 4 Trons GDP Consumption Government pending Exports Imports Budget balance What is the value of national savings for the hypothetical economy whose data is given in the table? National Savings trillion.(Round to one decimal place.) 5 QUESTION 5 Tribons of dollars...
Consider an economy with total GDP of $15 trillion, total household consumption of $10 trillion, total...
Consider an economy with total GDP of $15 trillion, total household consumption of $10 trillion, total government spending of $3 trillion, imports of $4 trillion and exports of $3 trillion. The net factor payments households receive is $0.2 trillion, and the total taxes paid to the government are $2 trillion. 3.1 Calculate the total private investment in this economy. 3.2 Calculate gross national product. 3.3 Calculate the total national saving. 3.4 Calculate the current account surplus
Question 2 Not yet answered Points out of 1.00 Flag question What is consumption in this economy? In trillions of dollars GDP Government Purchases Transfer Payments Exports Imports Net foreign factor income 5.0 0.2 0.4 0.5 0.4 Select one: a. Not enough information to compute consumption b. 3.6 trillion C. 4.1 trillion d. 3.9 trillion
Calculate the four components of expenditure and GDP for the following economy using data from the table below Instructions: Enter your response as an integer value GDP Consumption expenditures Exports Government purchases of goods and services Construction of new homes and apartments Sales of existing homes and apartments Imports Beginning-of-year inventory stocks End-of-year inventory stocks Business fixed investment Government payments to retirees Household purchases of durable goods $600 $75 $200 $100 $200 $50 $100 $50 $100 $100 $150 Consumption expenditures:...
Question 2 (1 point) In an open economy suppose that GDP is $12 trillion. Consumption is $8 trillion and government spending is $2 trillion, Taxes are $0.5 trillion. Exports are $1 trillion and imports are $3 trillion. What is private saving? $4 trillion $3.5 trillion $2.5 trillion $1.5 trillion Question 1 (1 point) Interest rate (%) Supply of loanable funds Demand for loanable funds 0 10 20 30 40 50 60 70 80 90 100 Quantity of loanable funds (billions...
4. Computing GDP using the expenditure approach The following table shows data on consumption, investment, exports, imports, and government purchases for the United States in 2007, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the following table to calculate GDP Components Consumption (C) Investment (I) Exports (EX) Imports (IM) Net exports of goods and services (NX) Government purchases (G) Gross domestic product (GDP) $9,734.20 $2,125.40 $1,643.00 $2,351.00...
In the first quarter of 2020, the annualized nominal United States GDP components were as follows ($. billions): Personal Consumption (C) 14.583.3 Gross Private Domestic Investment (1) 3.629.0 Exports 2.420.9 Imports 2.945.6 Government Expenditures (G) 3.852.0 Calculate the value of Q2 2020 GDP based on these values and enter your response below:
3. Consider the following table for Canada's GDP in 2016 Components of GDP in 2016 (billions of dollars) Category Personal expenditure on consumer goods and services Durable goods 231.2 273.4 648.9 28.6 Non-durable goods Services Non-profit institutions serving households' final consumption expenditure General government's final consumption expenditure Business gross fixed capital formation 429.8 Residential structures 154.1 Non-residential structures Machinery and equipment 80.2 33.3 2.8 Intellectual property products Non-profit institutions serving households' gross fixed capital formation General government's gross fixed capital...
QUESTION 3 Tribons of dolers GDP Consumption Government spending Exports Imports Budget balance Given the values in the table, and assuming transfer payments trillion (Round to one decimal place.) , compute the value of private saving. Private saving QUESTION 4 Trons GDP Consumption Government pending Exports Imports Budget balance What is the value of national savings for the hypothetical economy whose data is given in the table? National Savings trillion.(Round to one decimal place.) 5 QUESTION 5 Tribons of dollars...
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