Explain what double counting is and discuss why GDP is not equal to total sales.
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Explain what double counting is and discuss why GDP is not equal to total sales.
What are the three approaches to GDP measurement? Explain why, in a simple economy, the three...
What are the three approaches to GDP measurement? Explain why, in a simple economy, the three approaches would yield the same figure for the value of total production.
1. In a given year, say the U.S. GDP is 18 trillion dollars and the Mexican...
1. In a given year, say the U.S. GDP is 18 trillion dollars and the Mexican GDP is 19 trillion pesos. What would you need to be able to compare the two GDP figures to know which economy is more productive? Why? 2. Say Germany's GDP is $4,000 billion and its population is 79 billion. What is Germany's per capita GDP? 3. Which of the following are included in GDP. If they are not included, explain why not. a. the...
Q1. a. Why is national income equal to GDP? b. Briefly explain, with the aid of diagrams, the aggregate demand and aggre...
Q1. a. Why is national income equal to GDP? b. Briefly explain, with the aid of diagrams, the aggregate demand and aggregate supply model? c. What is "less than full employment" national income equilibrium? d. Which two principal macroeconomic policies might be applied to achieve full employment equilibrium? e. Explain, with the aid of diagrams, how the policies in (d. above) might be applied. f. Explain, with the aid of diagrams, the consequences of an excessive macroeconomic stimulus.
Essay Define Gross Domestic Product (GDP) and discuss its importance as an economic measure. Discuss the approaches used...
Essay Define Gross Domestic Product (GDP) and discuss its importance as an economic measure. Discuss the approaches used to measure GDP. Explain four reasons why GDP is not an ideal measure of well-being. Suppose you were asked to devise a way to include the effects of climate change on GDP. What information would you need?
a) Explain why the traditional fixed-weighted measure of real GDP is preferred to nominal GDP for...
a) Explain why the traditional fixed-weighted measure of real GDP is preferred to nominal GDP for assessing changes in an economy's production over time. b) Explain why a chain-weighted measure of real GDP is preferred to the traditional fixed-weighted measure of real GDP.
6. What is meant by problem of double counting? How this problem can be avoided 7....
6. What is meant by problem of double counting? How this problem can be avoided 7. Elaborate 'economic growth' as objective of government budget. Art. de Economit go 8. According to recent media reports: 'Country A has accused Country B of cur devaluation to promote its exports'. In the light of the given media report commen exports can be promoted through the Currency devaluation? 9. Differentiate between National Income at Current Prices and Nation Constant Prices. Which of the two...
7. Discuss why the nominal GDP per capita is a good measure of a countries economic...
7. Discuss why the nominal GDP per capita is a good measure of a countries economic well being and why it is a poor measure. a. (5 points) Why is the nominal GDP per capita a good measure? b. (5 points) Why is the nominal GDP per capita a poor measure?
Is GDP a good indicator of a country’s wealth? Why or why not? Explain.
Is GDP a good indicator of a country’s wealth? Why or why not? Explain.
Please explain this GDP question; why is it 200 and not 20??? 34. Suppose that nominal...
Please explain this GDP question; why is it 200 and not
20???
34. Suppose that nominal GDP is $600 billion and real GDP is S30 billion. What is the GDP price deflator? Don't forget that the GDP price deflator is an index! A 50 B 5 C 20 D 200
17. Which of the following economy-wide measures is GDP equal to? a. Total income. b. Total...
17. Which of the following economy-wide measures is GDP equal to? a. Total income. b. Total income+total saving c. Total income -total government expenditures. d.) Total income - total imports.
a) Explain why the traditional fixed-weighted measure of real GDP is preferred to nominal GDP for assessing changes in an economy's production over time. b) Explain why a chain-weighted measure of real GDP is preferred to the traditional fixed-weighted measure of real GDP.
6. What is meant by problem of double counting? How this problem can be avoided 7. Elaborate 'economic growth' as objective of government budget. Art. de Economit go 8. According to recent media reports: 'Country A has accused Country B of cur devaluation to promote its exports'. In the light of the given media report commen exports can be promoted through the Currency devaluation? 9. Differentiate between National Income at Current Prices and Nation Constant Prices. Which of the two...
Please explain this GDP question; why is it 200 and not
20???
34. Suppose that nominal GDP is $600 billion and real GDP is S30 billion. What is the GDP price deflator? Don't forget that the GDP price deflator is an index! A 50 B 5 C 20 D 200
17. Which of the following economy-wide measures is GDP equal to? a. Total income. b. Total income+total saving c. Total income -total government expenditures. d.) Total income - total imports.
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