After reading the statement below you will choose 2 answers! Determine where this transaction should be classified in the GDP formula. Choose what would happen to GDP as a result of this transaction. Due to increased incomes, Europeans buy more US good and services. Your answer: C I

Q: Bob and Cho Tokarev live in Conshohocken, PA. Cho's father, Eric, lives in Sweden. For each of the…

A: The objective of the question is to identify the category of each transaction in the calculation of…

Q: GDP

A: GDP is also defined as Gross Domestic Product. GDP is the measure of value of all the final goods…

Q: In 2019, Mr. Francis paid $10m for a house that was built in 2019 and sold that year for $8m. What…

A: The house was builid on 2019 and sold to Mr Francis for 10 Million $. Therefore the house will…

Q: Imagine that a hypothetical economy produces three items food, clothes and Aluminum and a typical…

A: Real Gross Domestic Product (Real GDP) is the calculation of the total output produced in an economy…

Q: How does GDP affect the economic development of Haiti (or similiar LDCs)?

A: Answer - Need to find- How does GDP affect the economic development of Haiti (or similiar LDCs)…

Q: the PPP-adjusted GDP for each of the four countries using the information found in the table below.…

A: PPP stands for "Purchasing Power Parity." It is an economic concept used to compare the relative…

Q: are savings and spending on imports included in aggregate expenditure

A: Aggregate expenditure is used to assess and evaluate a country's overall economic activity or total…

Q: If KLM, a Dutch company providing air travel, buys airplanes from a French manufacturer, how does…

A: Given information: *KLM is a Dutch company *French manufactures the airplanes

Q: In the US, the Bureau of Economic Analysis (BEA) reports the following information about the US…

A: Real GDP can be calculated by using the formula given below:

Q: tatisticians measure GDP?

A: GDP (Gross Domestic Product): It refers to the production of goods and services in an economy which…

Q: Use the following table to calculate GDP price deflator in 2019 and 2020 and the change in the…

A: (a) GDP deflator = (Nominal GDP / Real GDP)*100 Year 2019 GDP deflator = ($26000 / $21000)*100 =>…

Q: Explain how the removal of online purchase taxes on ICT devices may effect a country's GDP.

A: ICT use in online purchasing  has been rising constantly . Because it gives the ease and low cost of…

Q: Which of the following is added to the GDP?     A. Exports   B. Imports   C. Net Exports   D.…

A: GDP is the gross domestic product.  It includes consumption , investment , government spending and…

Q: Net exports are -$114 billion and exports are $857 billion. What are imports?

A: Given: Net export = -$114 billion Exports =$857 billion

Q: Which of the following is the proper formula for GDP once you adjust it so it explicitly shows the…

A: The most popular method for calculating GDP is the expenditure approach, which is based on how much…

Q: If the government spending increases, will net exports (X-M) increase?

A: The government spending refers to the spending done on the public goods and services. The government…

Q: Given the following: Ca = $450, Ig = $250,  and G = $30, what is the economy’s equilibrium GDP if…

A: The country is operating under closed economy.