Cindy Ross buys a dinner in an Italian restaurant in Toronto. This expenditure is an example of OA. consumption. OB. government purchases. OC. investment. OD. net exports
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- Between 2014 and 2015, the exports of the U.S. economy decreased by $5 billion and its imports increased by $5 billion. All else equal? By how much has the GDP changed between the two years? Select one: a. None of the answers are correct b. The change in net exports will increase GDP by $5 billion. c. The change in net exports will decrease GDP by $5 billion. d. The change in net exports will decrease GDP by $10 billion. e. The decrease in exports is offset by the decrease in imports, so there is no change in net exports and no effect on GDP.What is total expenditure in an economy? Total expenditure is equal to expenditure ______. A. on goods and services produced in the economy and goods imported. B. by households, firms, governments, and the rest of the world on goods and services produced in the economy. C. by firms and governments on goods and services produced in the economyThe table given below reports the value of different economic variables of a country during a year.Table 5.4 GNP Data(Adjusted for net factor income from abroad) Net Investment $400 Capital Consumption Allowance $800 Indirect Business Taxes $600 U.S. Exports $200 U.S. Imports $300 Government Purchases $150 Consumption Spending $2,030 Refer to Table 5.4. What will be the value of gross investment? Group of answer choices $1,000 $1,200 $400 $1,800 Indeterminate
- The table below includes data for a one-year period required to calculate GDP from the expenditure side. What is the value of GDP? Investment expenditure Wages and salaries Consumption expenditure Interest and investment income $103.39 Business profits Depreciation Government purchases Net exports $406.15 $1,785.53 $1,294.43 $74.07 $203.47 $487.91 $92.34 O A. $2,354.90 O B. $2,177.44 OC. $2,280.83 O D. $4,066.36 O E. $2,188.49Use the following data to answer the questions below: Category Consumption Depreciation Retained earnings Gross investment Imports Exports Net foreign factor income Government purchases a. How much is GDP? Instructions: Enter your responses as a whole number. $ $ billion b. How much is net investment? $ Billions of Dollars $200 20 12 30 60 billion c. How much is national income? billion 50 10 80Explain how net exports affect the U.S. economy.Describe both positive and negative impacts onGDP. Why do national income accountants usenet exports to compute GDP, rather than simplyadding exports to the other expenditure componentsof GDP?
- 3. Categories of expenditures Dmitri and Frances Doherty live in Conshohocken, PA. Their son, Jake, owns his own plumbing business. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (1), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction Dmitri's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China. The Pennsylvania Department of Transportation, a state administration, fixes potholes along PA highway: 23, which feeds into the center of Conshohocken, Frances gets a new video camera made in the United States. Dmitri buys a sweater made in Guatemala. Jake buys a new set of tools to use in his plumbing business. с 00 I O O G O X 0 M O O 0 000 00 000 000Gross domestic product is calculated by adding together f5 % 5 consumer spending, government spending, and all imports. consumer spending, investment spending, and net exports. consumer spending, government spending, and all investments. consumer spending, investment spending, government purchases of goods and services, and net exports. T f6 < 4- 6 f7 & 7 hp H fg বির * 8 fo DII 9 f10 DDI WWhich of the following is added to the GDP? A. Exports B. Imports C. Net Exports D. Personal Income Tax
- Air Canada buying a plane from Bombardier belongs in which part of the Canadian GDP components? Select one: Oa. Government Expenditures Ob. Net exports Oc. Consumption Expenditures Od. Investment ExpendituresUse the following table to answer the question below for an economy that has no government, no international trade or any association with other countries: Consumption (billions) Level of Output (billions) $240 $260 $280 $300 $320 $340 $360 $340 $380 $356 $400 $372 If gross investment is $4 billion, the equilibrium level of GDP (output) will be: a) $340 b) $280 Oc) $260 $244 $260 $276 $292 $308 $324 d) $360When a U.S. consumer buys Canadian maple syrup at the grocery store, this purchase is:A) an importB) an exportC) gross domestic productD) a transfer payment. Below is economic data for Germany for 2016 (measured in billions of current euros). What was total spending? Consumption 1,649.79 Investment 636.42 Government spending 620.01 Exports 1,442.41 Imports 1,211.64 A) 2,675B) 4,348C) 2,906D) 3,137 Please ans both questions and you will get thumbs up.