Refer to the Table above to answer the following questions. Be sure to show all of your calculations. a. What was country A's GDP? (Enter response here.) b. What was country A's consumption? (Enter response here.) c. What was country A's investment? (Enter response here.) d. What were country A's government purchases? (Enter response here.) e. What were country A's exports and imports? What was the net export? (Enter response here.) 5) Calculate how much each of the following items is worth in terms of today's dollars using 180 as the price index for today. a. In 1925, the CPI was 18 and the price of a movie ticket was $0.30. (Enter response here.) b. In 1930, the CPI was 14 and a cook earned $20 a week. (Enter response here.) c. In 1940, the CPI was 16 and a gallon of gas cost $0.20. (Enter response here.) 4) The table below contains hypothetical data for country A for a given year. Country A's Goods and Services Total Household purchases of durable goods $1293 Household purchases of nondurable goods $1717 Household purchases of services $301 Household purchases of new housing $704 Purchases of capital equipment $310 Inventory changes $374 Purchases of new structures $611 Depreciation $117 Salaries of government workers $1422 Government expenditures on public works $553 Transfer payments $777 Foreign purchases of domestically produced goods $88 Domestic purchases of foreign goods $120
Refer to the Table above to answer the following questions. Be sure to show all of your calculations. a. What was country A's GDP? (Enter response here.) b. What was country A's consumption? (Enter response here.) c. What was country A's investment? (Enter response here.) d. What were country A's government purchases? (Enter response here.) e. What were country A's exports and imports? What was the net export? (Enter response here.) 5) Calculate how much each of the following items is worth in terms of today's dollars using 180 as the price index for today. a. In 1925, the CPI was 18 and the price of a movie ticket was $0.30. (Enter response here.) b. In 1930, the CPI was 14 and a cook earned $20 a week. (Enter response here.) c. In 1940, the CPI was 16 and a gallon of gas cost $0.20. (Enter response here.) 4) The table below contains hypothetical data for country A for a given year. Country A's Goods and Services Total Household purchases of durable goods $1293 Household purchases of nondurable goods $1717 Household purchases of services $301 Household purchases of new housing $704 Purchases of capital equipment $310 Inventory changes $374 Purchases of new structures $611 Depreciation $117 Salaries of government workers $1422 Government expenditures on public works $553 Transfer payments $777 Foreign purchases of domestically produced goods $88 Domestic purchases of foreign goods $120
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Transcribed Image Text:Refer to the Table above to answer the following questions. Be sure to show all of your
calculations.
a. What was country A's GDP?
(Enter response here.)
b. What was country A's consumption?
(Enter response here.)
c. What was country A's investment?
(Enter response here.)
d. What were country A's government purchases?
(Enter response here.)
e. What were country A's exports and imports? What was the net export?
(Enter response here.)
5) Calculate how much each of the following items is worth in terms of today's dollars using 180
as the price index for today.
a. In 1925, the CPI was 18 and the price of a movie ticket was $0.30.
(Enter response here.)
b. In 1930, the CPI was 14 and a cook earned $20 a week.
(Enter response here.)
c. In 1940, the CPI was 16 and a gallon of gas cost $0.20.
(Enter response here.)
Transcribed Image Text:4) The table below contains hypothetical data for country A for a given year.
Country A's Goods and Services
Total
Household purchases of durable goods
$1293
Household purchases of nondurable goods
$1717
Household purchases of services
$301
Household purchases of new housing
$704
Purchases of capital equipment
$310
Inventory changes
$374
Purchases of new structures
$611
Depreciation
$117
Salaries of government workers
$1422
Government expenditures on public works
$553
Transfer payments
$777
Foreign purchases of domestically produced
goods
$88
Domestic purchases of foreign goods
$120
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