Need d and e only Part I. National Output (GDP):Consider whether each of the following events is likely to affect national output (or GDP) in theUS. The event is going increase or decrease GDP? And how it affects the US GDP?a. Due to the pandemics of Covid-19, many cities had to lock down. Firms throughout theeconomy experience falling demand, causing them to lay off workers.b. The invention of a new, easy-to-grow breed of soybean increases farm harvests in Arkansas.c. Increased hostility between teacher unions and schools sparks a rash of strikes in New York.d. A hurricane in California forces Disney Land and Hollywood to shut down for a month.e. One new progress of information and communication technology (ICT) improved productivityof healthcare workers.

GDP is the final value of goods and services produced in an economy during a given period of time at…

d. A hurricane in California forces Disney Land and Hollywood to shut down for a month. e. One new progress of information and communication technology (ICT) improved productivity of healthcare workers.

d. A hurricane in California forces Disney Land and Hollywood to shut down for a month. e. One new progress of information and communication technology (ICT) improved productivity of healthcare workers.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 13RQ: Would you usually expect GDP as measured by what is demanded to be greater than GDP measured by what...

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Would you usually expect GDP as measured by what is demanded to be greater than GDP measured by what is supplied, or the reverse?
Part I. National Output (GDP): Consider whether each of the following events is likely to affect national output (or GDP) in the US. The event is going increase or decrease GDP? And how it affects the US GDP? a. Due to the pandemics of Covid-19, many cities had to lock down. Firms throughout the economy experience falling demand, causing them to lay off workers. b. The invention of a new, easy-to-grow breed of soybean increases farm harvests in Arkansas. c. Increased hostility between teacher unions and schools sparks a rash of strikes in New York. d. A hurricane in California forces Disney Land and Hollywood to shut down for a month. e. One new progress of information and communication technology (ICT) improved productivity of healthcare workers.
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