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3 The demand measure of GDP accounting adds together: A. wages and salaries, rent, interest, and...
O D. consumption, interest, government purchases, and trade balance 4 Which of the following are most...
O D. consumption, interest, government purchases, and trade balance 4 Which of the following are most likely classified by economists as consumer durable g oods? O A. food, dothing O B. drugs, toys, magazines, books D C. automobiles, furniture D. stocks, bonds Which of the following is included in the calculated Gross Domestic Product?
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...
4. The difference between expenditure and income approach to measure GDP resides in: A) Expenditure approach...
4. The difference between expenditure and income approach to measure GDP resides in: A) Expenditure approach address the question “Who gets income”, while income approach “Who purchases GDP” B) Expenditure approach counts compensation of employees, rents, interest, proprietor’s income and corporate profit, while income approach counts consumption, investment, government spending and net export C) From the spending side 70% of national income is paid in wages and benefits, while from income side 72% consists of consumer expenditures D) The expenditure...
Which is the largest component of U.S. GDP? O a. government purchases b.imports c. consumption d....
Which is the largest component of U.S. GDP? O a. government purchases b.imports c. consumption d. investment е. exports QUESTION 7 Which of the following represents the largest share of U.S. GDP? a. the production of physical goods b. the production of manufactured goods c. services d. the production of capital goods e. agricultural production During a recession, fewer individuals fly across the country for vacations. As a result, many pilots and flight attendants lose their jobs. These individuals would...
!!! Apps YouTube Maps News Web Store M Gmail Profit Indirect business taxes Rent Interest Wages...
!!! Apps YouTube Maps News Web Store M Gmail Profit Indirect business taxes Rent Interest Wages Depreciation Consumption Government spending Imports Social Security contributions Exports Government transfer payments Personal income taxes and nontax payments Corporate taxes and retained earnings GDI - GDP- gross private domestic investment - personal income - personal disposable income Fill in numbers only; one decimal place; e.g. 10.0
Figure 7-1: Circular-Flow Model: Use the following to answer questions 6-7: Wages, dividends, interest rent =...
Figure 7-1: Circular-Flow Model: Use the following to answer questions 6-7: Wages, dividends, interest rent = $500 Wages, dividends, interest rent = $500 Factor markets Firms Households Consumer spending - $400 Taxes = $100 Goods and services markets Imports = $30 Government Government purchases of Exports goods and - $30 services = $100 Rest of world 6. (Figure 7-1: Circular-Flow Model) Use Figure 7-1: Circular-Flow Model. If the circular- flow model is in equilibrium (the sum of money flowing into...
u services produced anyw O D. the value of all final goods and services produced dom...
u services produced anyw O D. the value of all final goods and services produced dom 2 Final goods or services used to compute GDP refer to: O A. the sum of all wages paid to laborers. O B. the factors of production used to produce output. O c. goods and services purchased by the ultimate users. 0 D, the value of outstanding shares of stock of manufacturing fir 3 The demand measure of GDP accounting adds together: A. wages...
ECON 250 30. Which of the following is NOT included in U.S. GDP? the estimated rental...
ECON 250 30. Which of the following is NOT included in U.S. GDP? the estimated rental value of owner-occupied housing in the U.S.A. b.US. home grown garden for family consumption c. production of foreign citizens living in the United States d services such as those provided by American lawyers and America hair stylists working in the USA 31. One bag of flour is sold for $2.50 to a bakery, which uses the flour to bake bread. Five loafs of bread...
-600 480 1.800 2.400 480 Net exports of goods and services Net interest paid by business Government purchases of go...
-600 480 1.800 2.400 480 Net exports of goods and services Net interest paid by business Government purchases of goods and services Gross private domestic investment Indirect business taxes Rental income of individuals plus implicit rent on owner-occupied housing Wages, salaries, employee compensation Personal consumption expenses Depreciation Proprietorial income Corporate profits 240 7.200 8.400 960 1.200 1440 Use the data in the table to calculate Gross Domestic Product (GDP) for this country. GDP is equal to 50 Use the data...
1. 2. 3. 4. a. When referring to GDP, which of the following is included in...
1. 2. 3. 4.
a. When referring to GDP, which of the following is included in GDP? Money spent on services by households (haircuts, meals at restaurants, lawyer, etc.) New cars that are purchased this year, but produced last year. Social Security payments. Goods that were produced by U.S. citizens abroad. b. Which of the following transactions is not included in GDP? Sean purchases coffee produced in Guatemala. Thomas pays to have his taxes done by a national accounting company...
O D. consumption, interest, government purchases, and trade balance 4 Which of the following are most likely classified by economists as consumer durable g oods? O A. food, dothing O B. drugs, toys, magazines, books D C. automobiles, furniture D. stocks, bonds Which of the following is included in the calculated Gross Domestic Product?
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...
Which is the largest component of U.S. GDP? O a. government purchases b.imports c. consumption d. investment е. exports QUESTION 7 Which of the following represents the largest share of U.S. GDP? a. the production of physical goods b. the production of manufactured goods c. services d. the production of capital goods e. agricultural production During a recession, fewer individuals fly across the country for vacations. As a result, many pilots and flight attendants lose their jobs. These individuals would...
!!! Apps YouTube Maps News Web Store M Gmail Profit Indirect business taxes Rent Interest Wages Depreciation Consumption Government spending Imports Social Security contributions Exports Government transfer payments Personal income taxes and nontax payments Corporate taxes and retained earnings GDI - GDP- gross private domestic investment - personal income - personal disposable income Fill in numbers only; one decimal place; e.g. 10.0
Figure 7-1: Circular-Flow Model: Use the following to answer questions 6-7: Wages, dividends, interest rent = $500 Wages, dividends, interest rent = $500 Factor markets Firms Households Consumer spending - $400 Taxes = $100 Goods and services markets Imports = $30 Government Government purchases of Exports goods and - $30 services = $100 Rest of world 6. (Figure 7-1: Circular-Flow Model) Use Figure 7-1: Circular-Flow Model. If the circular- flow model is in equilibrium (the sum of money flowing into...
u services produced anyw O D. the value of all final goods and services produced dom 2 Final goods or services used to compute GDP refer to: O A. the sum of all wages paid to laborers. O B. the factors of production used to produce output. O c. goods and services purchased by the ultimate users. 0 D, the value of outstanding shares of stock of manufacturing fir 3 The demand measure of GDP accounting adds together: A. wages...
ECON 250 30. Which of the following is NOT included in U.S. GDP? the estimated rental value of owner-occupied housing in the U.S.A. b.US. home grown garden for family consumption c. production of foreign citizens living in the United States d services such as those provided by American lawyers and America hair stylists working in the USA 31. One bag of flour is sold for $2.50 to a bakery, which uses the flour to bake bread. Five loafs of bread...
-600 480 1.800 2.400 480 Net exports of goods and services Net interest paid by business Government purchases of goods and services Gross private domestic investment Indirect business taxes Rental income of individuals plus implicit rent on owner-occupied housing Wages, salaries, employee compensation Personal consumption expenses Depreciation Proprietorial income Corporate profits 240 7.200 8.400 960 1.200 1440 Use the data in the table to calculate Gross Domestic Product (GDP) for this country. GDP is equal to 50 Use the data...
1. 2. 3. 4.
a. When referring to GDP, which of the following is included in GDP? Money spent on services by households (haircuts, meals at restaurants, lawyer, etc.) New cars that are purchased this year, but produced last year. Social Security payments. Goods that were produced by U.S. citizens abroad. b. Which of the following transactions is not included in GDP? Sean purchases coffee produced in Guatemala. Thomas pays to have his taxes done by a national accounting company...
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