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- 6. Limitations of GDP Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States? Check all that apply. The quality of goods available to consumers O The loss of enjoyment people incur when scenic land is converted to commercial use The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government O Federal government paychecks to soldiers When a U.S. company purchases and imports automotive parts from Canada to use to build cars within the United States, this purchase increases the net exports by the same amount. Therefore, the purchase component of GDP while also in US GDP. automotive parts from Canada causes4. A farmer sells sugar to a candy producer for $150. If the producer uses this sugar to make candy that sells for $200, what is the total contribution to GDP from these transactions?5. Which component of GDP includes spending on new structures and equipment?
- Typed plz and Asap thanks6. Limitations of GDP Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States? Check all that apply. O Expenditures on federal highways O The value produced when you wash your own car at home O The loss of enjoyment people incur when scenic land is converted to commercial use O The quality of goods available to consumers When a U.S. company purchases and imports electronic parts from China to use to produce MP3 players within the United States, this purchase increases the component of GDP while also net exports by the same amount. Therefore, the purchase of electronic parts from China causes in US GDP.GDP is the total market value of goods and services produced ina country in a year. Google the GDP’s of three countries. Everyoneshould use different countries. Use one advanced economy, onedeveloping country, and then a country on a different continentthan the first two countries you found. What I want to know and youneed to share is current (1) total gdp, (2) gdp per capita and (3)gdp growth rate for the last year. Explain what has been happeningin the countries you chose. If you have heritage from anothercountry, share the gdp numbers from your country.
- What was nominal GDP in each year? What was real GDP in 2010, in terms of year 2000 dollars? What was realGDP growth over the period?31. What are three methods of calculating GDP. Do they end up with the same number? Please elaborate 32. What are intermediate goods? Why do economists exclude the value of intermediate goods while calculating national income? 33. Compare and contrast the U.S. economic record prior to 1940 and after 1950. How do the two time periods differ? What best explains the differences according to a macroeconomist? 34. Why do price levels increase when government adopts fiscal or monetary policy to correct the economy when it faces a recession and high unemployment? 35. Are there key differences between an increase in the capital stock and an improvement in the level of technology? 36. Describe how the labor force, the nation's capital stock, and the rate of technical progress contribute to potential GDP growth and labor productivity. 37. High unemployment is socially wasteful. Why?2. Which of the following is NOT included in the calculation of GDP? a) Investment spending b) Government spending
- typed answerGDP 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?…5. Limitations of GDP Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States? Check all that apply. The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government The costs of air and water pollution Federal government paychecks to soldiers The variety of goods available to consumers When a U.S. company purchases and imports wood from Brazil to use to build new houses within the United States, this purchase increases the component of GDP while also net exports by the same amount. Therefore, the purchase of wood from Brazil causes in US GDP.
