The table below contains data for country A for the year 2010.Household purchases of durable goodsHousehold purchases of nondurable goodsHousehold purchases of servicesHousehold purchases of new housingPurchases of capital equipmentInventory changesPurchases of new structuresDepreciationSalaries of government workersGovernment expenditures on public worksTransfer paymentsForeign purchases of domestically produced goodsDomestic purchases of foreign goods$1293$1717$301S704$310$374S611$117$1422$553$77S88$1201. Refer to Table 23-2. What was country A's GDP in 2010?2. Refer to Table 23-2. What was country A's consumption, investment, govemment purchases, and netexports in 2010?

GDP calculates the total worth of all final goods and services produced in an economy.

Answered: 1. Refer to Table 23-2. What was…

1. Refer to Table 23-2. What was country A's GDP in 2010? 2. Refer to Table 23-2. What was country A's consumption, investment, govemment purchases, and net exports in 2010?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

GDP Problem. Given the following information, compute GDP by either the Expenditures or the Income approach. [You do not have to compute GDP both ways.] Name which of the two approaches you are using, and identify all the accounts (e.g., “All profits” or “Gross Private Investment”) you use in your computation of GDP. All profits $ 800 Government purchases of goods & services 300 Imports 50 Government transfer payments 250 Exports 50 Gross private investment 500 Rent 20 Wages, salaries 5000 Personal saving 1600 Depreciation 60 Net foreign income 0 Personal consumption expenditures 5200 Taxes on production & tariffs 40 Sales of stocks and bonds 1200 Interest 80 IDENTIFY: ______________________ APPROACH USED ACCOUNT…
Instructions: Answer the following questions. Make sure to number your answers when you upload your response. Why do economists include only final goods in measuring GDP for a particular year? Why don’t they include the value of stocks and bonds sold? Why don’t they include the value of used furniture bought and sold? Which of the following are included in this year’s GDP? Explain your answer in each Interest on an AT&T corporate bond. b. Social security payments received by a retired factory worker. The unpaid services of a family member in painting the family home. The income of a dentist. e. The money received by Smith when she sells her economics textbook to a book buyer. The monthly allowance a college student receives from Rent received on a two-bedroom apartment. The money received by Josh when he resells his current-year-model Honda automobile to Kim. The publication of a college textbook. j.…
Why do economists include only final goods and services in measuring GDP for a particular year? Why don't they include the value of used goods, i.e. cars, furniture, etc., bought and sold? Define net exports. Explain how US exports and imports each affect domestic production. How are net exports determined? Explain how net exports might be a negative amount. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Don't use ai to answer I will report your answer Solve it Asap with explanation and calculation
1. Calculate the values for the blanks in the shaded areas of the table below (identify your responses in a logical fashion in your document): Expenditure Components of GDP by Country, 2018 (billions of US dollars) Denmark Finland Australia Canada India Japan New Zealand UK US Consumption 808.7 996.9 165.9 146.1 1650.6 2763.3 120.0 1870.5 13998.7 Investment Business fixed investment 336.9 385.1 78.8 65.6 842.7 1202.5 49.1 487.3 4260.7 Changes in inventories 0.1 9.4 2.9 3.4 27.4 11.2 0.1 5.8 54.7 Government 275.5 357.1 86.6 62.7 312.1 981.6 38.4 528.3 2904.3 Net Exports Exports Imports 348.5 544.9 197.9 106.8 548.6 917.1 58.2 856.8 2510.2 312.0 581.1 176.4 108.8 657.0 904.4 58.1 907.1 3148.5 GDP Source: UNData, UN Statistics Division, data.un.org, GDP by Type of Expenditure at current prices – US dollars 2. Based on the information in the table and your calculations for Question #1: Do any countries have positive net exports? Which one(s)? Which country has the largest negative net…
List and describe the components of Gross Domestic Product on the demand side. Provide an example of each component. Also, be sure to account for the relative size of each component within the total GDP.
i need help with this macro econmics question 4
GDP 1. Calculate the values for the blanks in the shaded areas of the table below: Expenditure Components of GDP by Country, 2020 (83Son of current US dollars) Australia Canada Denmark Finland Japan India 1617 137.9 873 65.9 C E FOOD 80.0 65.3 16 0.5 L M N 195.4 97.G 1725 96.7 Household consumption Government expenditure Investments Gross fixed Investments Changes in inventories Net Exports Exports Imports A: ÄÜÄ÷ B: C: D: E: F: G: H: I: J: 746.5 K: L: 297.2 A 316.9 4.3 3152 254.7 943.7 371.8 B 377.7 (147) K 476.0 509.8 M: N: 0: P: 1,591.7 Q: R: 292.1 722.0 97.0 4973 $11.3 કીડી || T: 2.700.7 Y: 1,066.4 1,279.5 106 785.4 786.2 New Zealand UK 122.0 43.7 G 47.3 (p.s) P 46A GDP S U W Y Source: GOP by Type of Expenditure at current prices-US dollars, Retrieved 7/27/2022. National Accounts Estimates of Main Aggregates United Nations feste Division 472 Z: ZZ: 1,683.7 2. Based on the information in the table and your calculations for Question #1: Do any countries have positive net exports?…