A cell phone manufacturer made 300 cell phones in year 1 and sold 200 of them in year 1 and 100 of them in year 2. The cell phones are valued at $200 each in the market.

Q: If you were in charge of regulating the way GDP is calculated, would you include illegal activities…

A: The total monetary or market worth of all finished goods and services produced within a country's…

Q: Why is GDP (whether nominal or real) almost certainly an incomplete picture of how well an economy…

A: Nominal GDP is the value of goods and services produced in an economy in a year, measured at the…

Q: 2. What are the main components of measuring GDP with what is demanded?

A: In an economy, gross domestic product is used as the measuring tool to determine the income or…

Q: Why the components of GDP exhibit behaviors much different than GDP itself?

A: Gross Domestic Product refers to the sum total of the goods and services produced in the economy…

Q: Are there problems with GDP that should be fixed?

A: GDP is widely used concept to major economy health GDP is total of aggregate production of goods and…

Q: Which is better for making comparisons over time, nominal GDP or real GDP, and why?

A: The measure that depicts the final values of production of services and goods within a certain time…

Q: What is gdp and how do I calculate it?

A: The Gross Domestic Product (GDP) is the measurement of the monetary value of all the final goods and…

Q: What 4 things are excluded from GDP?  Why are they excluded?

A: GDP is that the final value of all the commodities produced within the boundaries of a country…

Q: What is Potential GDP and give an example?

A: Potential GDP is similar to normal GDP, but rather than only representing the final market value of…

Q: Why does real GDP always defer from nominal GDP?

A: Real GDP means the value of goods and services produced in the economy during a specific period that…

Q: what is the uderlying assumption of income GDP?

A: In an economy, any change in investment spending will have an impact on aggregate demand because…

Q: What components of GDP does Ford selling a Mustang from its inventory affect?

A: Gross Domestic Product (GDP): The total amount of final values of goods and services that are…

Q: How will the current GDP effect our economy

A: Answer - Need to find- Effect of current GDP on the economy    Effect of current GDP on the economy…

Q: What is nominal GDP and how does it influence prices?

A: Please find the answer below.

Q: Explain the shortfalls of analyzing GDP, by itself, to assess the state of the economy

A: Gross domestic product or GDP is considered to be a standard metric that is used to measure the…

Q: How should we calculate a value for the things that GDP does not currently measure?

A: The Gross Domestic Product (GDP) is the summation of the money value of all the final goods and…

Q: What two thing gdp measure?

A: GDP: It refers to the goods and services which has been produced in an economy. The more the GDP of…

Q: Explain GDP in detail.  Asap

A: Gross Domestic Product (GDP) is a fundamental measure used to gauge the economic performance of a…

Q: Why isn't GDP a good measure for economic well being

A: The gross domestic product is the aggregate of the values of all final goods and services produced…

Q: Why do we calculate GDP using the expenditure approach

A: GDP: It means the market value of all final goods and services that are produced within a country…