Calculate GDP given the following. Please leave off the dollar sign in your answers. Item Quantity Price Apples 10 $2 Oranges 20 $2 Bananas 30 $1
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Calculate GDP given the following. Please leave off the dollar sign in your answers.
Item | Quantity | Price |
Apples | 10 | $2 |
Oranges | 20 | $2 |
Bananas | 30 | $1 |
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- Using the following national income accounting data, compute GDP, NDP, and NI. All figures are in billions. Round your answers to one decimal place. category value compensation of employees $ 196.2 U. S. exports of goods and services 19.8 Consumption of fixed capital 11.8 government purchases 59.4 taxes on production and imports 14.4 net private domestic investment 52.1 transfer payments 13.9 U. S. imports of goods and services 16.5 personal taxes Net foreign factor income Personal consumption expenditures Statistical discrepancy 40.5 2.2 219.1 0What components of GDP, if any, would each of the following transactions affect? Explain. a) Jahzara spends $300 to buy her husband dinner at the finest restaurant in Boston. b) Nylah spends $1,200 on a new smartphone to use in her publishing business. The smartphone was built in China. c) Joseph spends $800 on a tablet to use in his editing business. He got last year's model on sale for a great price from a local manufacturer. d) GM builds $500 million worth of cars, but consumers only buy $470 million worth of them. e) The Federal Government sends your Grandmother a Social Security Check.The table contains price and quantity information for two vehicle models produced by Ford Motor Company, the F-series trucks and Escape SUVs. 2016 2016 2017 2017 price quantity price quantity ford escapes $24,485 307,069 $24,645 308,296 ford trucks $44,400 820,799 $24,645 896,764 a. Calculate the amount contributed by Ford to U.S. GDP (real and nominal) from the sales of the two models in 2016 and 2017. b. Determine the growth rate of nominal GDP (if Ford were the entire economy). c. Determine the growth rate of real GDP (if Ford were the entire economy).
- The table below presents a brief summary of City Y’s total spending, local GDP, and population changes. Read the table and answer the following questions. 2010 2020 Total spending ($ million) 89 104.12 Local GDP ($ millions) 110 134 Population 50,000 56,275 CPI deflators (2012=1) 0.96 1.05 Calculate per capita spending in 2010 and 2020, respectively, using constant dollars. *Results round to the nearest dollar. Calculate the compound annual growth rate of per capita spending from 2010 to 2020 Interpret what the two spending-to-GDP ratios tell us about City Y’s spending trend. Assuming City Y’s population grows at a constant rate in the next decade. Based on the information in the table, estimate City Y’s population in 2030.The economy of Tuland produces only two products fish and watches. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. 2010 132 69 2009 120 Quantity of fish Quantity of watches Price of fish 60 $8.00 $9.20 Price of watches $30.00 $31.50 Using the above information, calculate the following values. (Enter your responses rounded to two decimal places.) GDP for 2009 in 2009's prices GDP for 2009 in 2010's prices GDP for 2010 in 2009's prices GDP for 2010 in 2010's prices Using 2009 as the base year, compute the percentage change in the price level, i.e. the inflation rate. hint: you need to compute the GDP deflator first. Using 2010 as the base year, compute the percentage change in the price level, i.e. the inflation rate. hint: you need to compute the GDP deflator first. The geometric average of the two inflation rates $ 69 % % %I used the GDP price index equation but I think I'm missing a step. Need some help!?
- Which of the following will be counted as part of the U.S.'s GDP for a given year? Select one: a. An All-Terrain Vehicle produced by Honda in Timmonsville, South Carolina b. Cleaning service by an illegal immigrant that is not reported to the IRS c. A whopper burger produced by Burger King in Tel Aviv, Israel d. Tools purchased by a professional plumber at Home Depot e. An antique car that is sold at an auctionUse the list to determine the United States' GDP for the year 2013. Hint: Some goods should not be included in the GDP calculation. Good Produced Total Value 2013 Bicycles 500 Thrift Store 250 Clothing Food Stamps 650 New Computers 1500 Engines for New 800 Cars New Refrigerators Used Motor Cycles 485 340 Movie Tickets 100 Windows for New 1000 Buildings Fresh Bananas 200 $2640 $3690 $2890 $4175 Sign ou hpLook at the cost of producing a cell phone on the graphic provided. Which of the following will be calculated in this country's GDP? A)Intermediate costs and the final cost. B) All labor costs will be added. C) The outer case and keyboard. D) The cost of the final product.
- The table below presents a brief summary of City A’s total spending, local GDP, and population changes. Read the table and answer the following questions. 2010 2020 Total spending ($ million) 89 104.12 Local GDP ($ millions) 110 134 Population 50,000 56,275 CPI deflators (2012=1) 0.96 1.05 Calculate per capita spending in 2010 and 2020, respectively, using constant dollars. *Results round to the nearest dollar. 2010 per capita spending: 2020 per capita spending: 2. Calculate the compound annual growth rate of per capita spending from 2010 to 2020 3. Calculate spending-to-GDP ratios in 2010 and 2020, respectively. *Results round to the nearest 2 decimal places. 2010 spending-to-GDP ratio: 2020 spending-to-GDP ratio: Interpret what the two spending-to-GDP ratios tell us about City A’s spending trend. 4. Assuming City A’s population grows at a constant rate in the next decade.…Calculate the PPP-adjusted GDP for each of the four countries using the information found in the table below. Instructions: Round your answers to the nearest dollar. Price level adjustment (%) GDP ($) 10,500 12,500 14,125 23,500 Country Ona PPP-adjusted GDP Rye Zolfo Avon -26 -9 25How do statisticians and economists measure GDP? Specifically, what is the formula used? Define the component parts of the equation. Please no answers lifted from other places.
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