Homework Answers
Neither measured not included in GDP
Explanation: Informal economy refers to the economic activities for which no economic data is available. Output of such economies are neither measured not included in GDP.
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In an 'informal economy', the production of goods and services are: neither measured nor included in...
Identify the correct statement. a. Neither the initial development process nor the sustained growth of an...
Identify the correct statement. a. Neither the initial development process nor the sustained growth of an economy is dependent on a large natural resource base. b. An increase in labor input necessarily increases output per capita. c. Economic growth is usually measured by the annual percent change in the nominal output of goods and services per capita. d. Improvements in and greater stocks of land, labor, capital, and entrepreneurial activity shift the production possibilities curve inward. Oe. According to the...
Is the value of intermediate goods and services produced during the year included in Gross Domestic...
Is the value of intermediate goods and services produced during the year included in Gross Domestic Product (GDP)? For example, is aluminum used to produce a new mountain bike included in GDP? (Note that this question does not ask whether aluminum is directly counted in GDP but rather whether the production is included in GDP) O A. No. There is no value added in the production of aluminum. Therefore, production is not included in the value-added method of measuring GDP...
Gross domestic production is equal to the total expenditure on the economy's output of goods and...
Gross domestic production is equal to the total expenditure on the economy's output of goods and services, but not the total income of everyone in the economy. the total income of everyone in the economy, but not the total expenditure on the economy's output of goods and services. neither the total income of everyone in the economy, nor the total expenditure on the economy's output of goods and services. the total income of everyone in the economy, and the total...
Most goods and services produced at home a. and most goods and services produced illegally are...
Most goods and services produced at home a. and most goods and services produced illegally are included in GDP. b. are included in GDP while most goods and services produced illegally are excluded from GDP. bongo are excluded from GDP while most goods and services produced illegally are included in GDP d. and most goods and services produced illegally are excluded from GDP. ololololololololol
Choose the statement that is incorrect. Group of answer choices The value of goods and services...
Choose the statement that is incorrect. Group of answer choices The value of goods and services produced to protect the environment are included in GDP, but damage to the environment is not. The underground economy is difficult to describe but easy to measure. The underground economy includes production that uses labor that is paid less than the minimum wage. Our working time is valued as part of GDP, but our leisure time is not
When it comes to final goods and services, what is included in GDP and what is...
When it comes to final goods and services, what is included in GDP and what is not? Is a final good/service only included in GDP if the producer sells the good/service to a consumer?
Consider a simple economy that produces two goods: apples and envelopes. The following table shows the prices and quantities of the goods over a three-year period.
Consider a simple economy that produces two goods: apples and envelopes. The following table shows the prices and quantities of the goods over a three-year period. Use the information from the previous table to fill in the following table. From 2015 to 2016, nominal GDP _______, and real GDP _______.The inflation rate in 2016 was _______.Why is real GDP a more accurate measure of an economy's production than nominal GDP? Nominal GDP is adjusted for the effects of inflation or deflation, whereas real GDP...
1. When the United States imports goods and services from the rest of the world we...
1. When the United States imports goods and services from the rest of the world we increase our inflation rate. we receive payments from the rest of the world (+credit). we make payments to the rest of the world (-debit) we decrease our inflation rate. 2. When we export goods to foreign countries, we decrease our inflation rate. we make payments to the rest of the world (-debit) increase our inflation rate. we receive payments from the rest of the...
Level of trade is measured by a country's exports of its goods and services as a...
Level of trade is measured by a country's exports of its goods and services as a share of its_____ Select the correct answer below gross domestic product (GDP) level of Inflation balance of trade none of the above
Options: 1)cost of producing/wholesale cost of/market value of 2)final goods and services produced/final goods and services...
Options:
1)cost of producing/wholesale cost of/market value of
2)final goods and services produced/final goods and services
consumed/final and intermediate goods and services produced
3)by Canadian citizens/by resources within Canada/by
Canadian-owned companies
1. Activities included (and not included) in the calculation of GDP The gross domestic product (GDP) of Canada is defined as the all in a given period of time. Based on this definition, indicate which of the following transactions will be included in that is, directly increase) the GDP...
Identify the correct statement. a. Neither the initial development process nor the sustained growth of an economy is dependent on a large natural resource base. b. An increase in labor input necessarily increases output per capita. c. Economic growth is usually measured by the annual percent change in the nominal output of goods and services per capita. d. Improvements in and greater stocks of land, labor, capital, and entrepreneurial activity shift the production possibilities curve inward. Oe. According to the...
Is the value of intermediate goods and services produced during the year included in Gross Domestic Product (GDP)? For example, is aluminum used to produce a new mountain bike included in GDP? (Note that this question does not ask whether aluminum is directly counted in GDP but rather whether the production is included in GDP) O A. No. There is no value added in the production of aluminum. Therefore, production is not included in the value-added method of measuring GDP...
Gross domestic production is equal to the total expenditure on the economy's output of goods and services, but not the total income of everyone in the economy. the total income of everyone in the economy, but not the total expenditure on the economy's output of goods and services. neither the total income of everyone in the economy, nor the total expenditure on the economy's output of goods and services. the total income of everyone in the economy, and the total...
Most goods and services produced at home a. and most goods and services produced illegally are included in GDP. b. are included in GDP while most goods and services produced illegally are excluded from GDP. bongo are excluded from GDP while most goods and services produced illegally are included in GDP d. and most goods and services produced illegally are excluded from GDP. ololololololololol
Options:
1)cost of producing/wholesale cost of/market value of
2)final goods and services produced/final goods and services
consumed/final and intermediate goods and services produced
3)by Canadian citizens/by resources within Canada/by
Canadian-owned companies
1. Activities included (and not included) in the calculation of GDP The gross domestic product (GDP) of Canada is defined as the all in a given period of time. Based on this definition, indicate which of the following transactions will be included in that is, directly increase) the GDP...
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