Q2 When things are traded in a market, or embedded in government tax statistics, they arerelatively easy to measure. Many of our measurement difficulties arise precisely becausesome of the most valuable things are not easily measurable. Gross Domestic Product (GDP)casily captures the output of washing machines, but not of happiness, health orenvironmental depreciation. Since we do not buy and sell clean air or moderatetemperatures in a marketplace, governments are not automatically collecting statistics foruse in national accounts data.People who visit France quickly leam that the French have a good quality of life, better thanyou would expect simply by looking at their GDP. They enjoy a nice climate, long lunches,access to Mediterranean beaches and little congestion since they have plenty of land inrelation to their population. They also retire at a relatively young age and, having long lifeexpectancy, spend plenty of happy years in retirement. Their GDP statistics are measuringproduction of Renault and Peugeot, and of luxuries from Louis Vuitton and Hermès, butomit plentiful leisure, lack of stress and little congestion.Similarly, the output of the police, civil service and teachers in schools is not charged forin the market and hence not automatically valued by the market. How do we measure theoutput of the police?. Typically, national income statisticians measure the inputs (the agebill of police forces, rent of police stations, the cost of using police cars and policecomputers). This is a large step in the right direction, but it is far from perfect. If society becomes more unlawful, we end up choosing to have more police to counter crime. So,GDP rises because we are spending more on the police force. But in reality, people arefeeling less happy with the greater prevalence of crime and resent having to "waste' moreresources on additional policing in order to counter the crime wave.Conversely, when we cut back the size of the army, GDP falls since less is being spent onthe military, but we are actually receiving less justification as a consequence. Think of allthis as a health warning on GNP and GDP statistics. They measure what they should be tomeasure. Unless and until electorates want to spend a lot more money collecting morecomprehensive statistics, GNP and GDP will use data already being collected annually forother purposes such as taxation.(a)Explain why some final goods and services are not included in GDP.(b)Explain the reason that the value of intermediate goods produced and sold duringthe year is not included directly as a part of GDP, but the value of intermediategoods produced and not sold is included directly as a part of GDP.

(a) The market worth of all finished goods and services generated in the economy is measured by…

feeling less happy with the greater prevalence of crime and resent having to "waste' more resources on additional policing in order to counter the crime wave. Conversely, when we cut back the size of the army, GDP falls since less is being spent on the military, but we are actually receiving less justification as a consequence. Think of all this as a health waming on GNP and GDP statistics. They measure what they should be to measure. Unless and until clectorates want to spend a lot more money collecting more comprehensive statistics, GNP and GDP will use data already being collected annually for other purposes such as taxation. (a) Explain why some final goods and services are not included in GDP. (b) Explain the reason that the value of intermediate goods produced and sold during the year is not included directly as a part of GDP, but the value of intermediate goods produced and not sold is included directly as a part of GDP.

feeling less happy with the greater prevalence of crime and resent having to "waste' more resources on additional policing in order to counter the crime wave. Conversely, when we cut back the size of the army, GDP falls since less is being spent on the military, but we are actually receiving less justification as a consequence. Think of all this as a health waming on GNP and GDP statistics. They measure what they should be to measure. Unless and until clectorates want to spend a lot more money collecting more comprehensive statistics, GNP and GDP will use data already being collected annually for other purposes such as taxation. (a) Explain why some final goods and services are not included in GDP. (b) Explain the reason that the value of intermediate goods produced and sold during the year is not included directly as a part of GDP, but the value of intermediate goods produced and not sold is included directly as a part of GDP.

Macroeconomics: Principles and Policy (MindTap Course List)

13th Edition

ISBN:9781305280601

Author:William J. Baumol, Alan S. Blinder

Publisher:William J. Baumol, Alan S. Blinder

Chapter8: Aggregate Demand And The Powerful Consumer

Section8.A: National Income Accounting

Problem 3TY

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Refer to the table given. The gross domestic product (GDP) in billions of TL i .. TL Billions Government purchases Services consumption Receipts of factor income from the rest of the world Nonresidential investment 1000 500 30 650 Exports Durable goods consumption Change in business inventories Imports Nondurable goods consumption Payments of factor income to the rest of the world Residential investment 50 300 40 200 600 50 200 3440 2900 3140 3650
Refer to Table 1. The value for GDP in billions of dollars isA) 950.B) 1,030.C) 1,050.D) 1,110
2 (2) WhatsApp Answered: Suppose there b Search results for 'betweer x between the years 2000 an x translate inggris - Penelusu x + O X A web.whatsapp.com Update H economics A st. Go to the wn the list of rith the fastest the forecast rates between the Nations. Fill in the column for the real GDP for each years 2000 and 2016 for India from the United year. Nominal per contents at Year cap GDP GDP Deflator Real GDP here are articles aragraph or two conditions in one 2000 430.7277284 57.36678064 2001 437.0571735 56.29168237 2002 449.2611259 56.71696401 growing or not 2003 517.4687782 61.28959225 2004 616.0236666 68.47409723 2005 709.7680483 73.34417561 e of the European outliers, the red lower growth tern Europe. Go > look at real GDP 4) in the data? Can the news why 2006 790.9944417 75.97529403 2007 991.3467178 88.04073962 2008 1048.161005 90.92663843 2009 1068.62321 86.677581 2010 1340.910324 100 2011 1500.853109 106.3463115 ing hember states? 5:50 PM tates in Eastern 2012 1473.301818…
Referto the information provided in Table below to answer the questions that Billions Receipts of factor income from the rest of the world 20 Depreciation Government purchases Imports Payments of factor income to the rest of the world 30 90 40 40 150 90 500 Net private domestic investment Personal taxes Personal consumption expenditures Dividends Exports Amount of national income not going to 10 60 30 households 1- The value for GDP in billions of dollars 2- The value for GNP in billions of dollars 3- The value for NNP in billions of dollars 4- The value for national income in billions of dollars 5- The value for disposable personal income in billions of dollars
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