For a consumption dependent economy like Malaysia and the United States, which factor contributes most to their GDP? a. Government spending b. Gross private domestic consumption c. Foreign direct investments d. Net exports

For a consumption dependent economy like Malaysia and the United States, which factor contributes most to their GDP? a. Government spending b. Gross private domestic consumption c. Foreign direct investments d. Net exports

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter15: Measuring A Nation's Income

Section: Chapter Questions

Problem 5CQQ

See similar textbooks

Related questions

Q: For the country of Madagascar government spending was $15,000 in 2007. Consumption was $88,000,…

A: GDP under expenditure method is computed by adding up following items:1. Consumption expenditure of…

Q: Which of the following would increase gross private domestic investment in an economy? Select one:…

A: The four components of GDP include the business investment, personal consumption, government…

Q: GDP

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

Q: What items are not included in the calculation of GDP in the economy of the country.

A: According to the given question Gross Domestic Product is used by the economist to measure the…

Q: How much are they spending for the products of the country. a. consumption b. investment c. gross…

A: The used approach, otherwise called the spending approach, ascertains spending by the various…

Q: What is the GDP of this economy? Cost of materials Value of sales Value added 250 Farmer Ice-cream…

A: Gross domestic product (GDP) refers to the value of goods and services produced within the domestic…

Q: Factor income from abroad is ____________. a. Included in the GDP b. Not included in the GDP c.…

A: Answer: b. Not included in the GDP Factor income from abroad is not included in the components of…

Q: I. Nominal GDP and Nominal GDP per capita can best measure the quality of living and standard of…

A: The measure that depicts the final value of goods and services that are being produced in an economy…

Q: Personal consumption expenditure (C) 200 Exports (x) 10 Government Purchases of goods and…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: Identify the statement that describes the Gross Domestic Product of a country. a. All goods and…

A: Gross Domestic Product GDP by its name suggests that the output that is domestically produced within…

Q: Exclude the income of foreign nationals that resides with in the country in a given period of time.…

A: GDP is the total value of all the final goods and services produced in an economy within the…

Q: Q.7.2 Use the following composition of expenditure for the economy of a country named the Republic…

A: We are going to calculate Gross domestic expenditure to answer this question.

Q: what is the difference between Gross Domestic Product and Gross National Product? Would the…

A: Gross Domestic Product and Gross National Product are two important tools that are used to measures…

Q: Value of the final goods and services produced in a given year valued at that year's prices A.…

A: Growth in economic parameters happens when the final value of the output of goods and services…

Q: _________ is output per hour in the business sector. a)GDP per capita b)Investment c)Productivity…

A: Businesses operate to make profit by producing output for which it needs to use various inputs.

Q: han it was 60 years ago. What does this tell us about the well-being of U.S. residents?

A: Gross Domestic Product is considered to be a good and reasonable measure for measuring the well…

Q: Wheat and baking sector Dairy sector Sandwich sector 100 Cheese sales 700 Cheese sandwiches 1000…

A: The gross domestic product (GDP) refers to the value of final goods and services produced within the…

Q: Q.7.2 Use the following composition of expenditure for the economy of a country named the Republic…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: To convert Gross Domestic Product to Net Domestic Product, which of the following is correct?…

A: Gross Domestic Product (GDP) and Net Domestic Product (NDP) are critical economic indicators used to…

Q: What describes as Gross Domestic Product of a country?

A: The theory of GDP was developed by an American economist named Simon Kuznets in 1934 and is…

Q: To arrive at the National income using the value added method, what has to be added to the net…

A: National income is the total value of commodities produced by the companies in a country.

Q: Use the table to answer the questions. Round your answers to the nearest cent. Country A Country…

A: a.)GDP per capita for country A:GDP per capita for country A can be calculated as follows:

Q: The total production made by the major industries of a country comprises the country’s _______. a.…

A: Production includes all the goods and services that are produced by the country.

Q: The value of textiles produces in India by a Malaysian company is included in the Malaysia’s…

A: GDP (Gross domestic Product ) refers to all the goods and services produced within the boundaries of…

Q: How does the decline of natural resources and biodiversity affects Gross Domestic Product and Gross…

A: Gross domestic product: Gross domestic product (GDP) refers to the final value of all the goods and…

Q: The value of what KFC produces in Japan is included in the U.S. and in the Japanese Select one: a.…

A: Gross Domestic Product (GDP) includes the value of goods and services that are produced within the…

Q: Use the following composition of expenditure for the economy of a country named the Republic of…

A: We are going to use formulae to calculate GDP, NNI and GDE.

Q: Investment is back bone to a nation’s GDP. How you will describe it and what elements causes to…

A: Macroeconomics analyzes the economy as a whole. It studies aggregate economic concepts such as…

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: Jamaica's Gross National Product would be increased by: a. Outflows of net property income b.…

A: An estimate of all the final products and services market value through the production means being…

Q: What term describes the total value of all goods and services produced within a country's borders…

A: The issue here is to recognize the financial term that characterizes the all-out worth of all labor…

Q: Go online and find the current GDP for countries, which are the largest countries in the world in…

A: The gross domestic product (GDP) is a metric for measuring a country's economic output.Based on…

Q: If consumption is 10, investment 5, government purchases 6, exports 8, and imports 7, what is GDP

A: GDP is the gross domestic product. GDP is the sum of consumption, investment, government spending…

Q: Use the following composition of expenditure for the economy of a country named the Republic of…

A: Q1. Gross Domestic Expenditure (GDE) is the sum of consumption (C), investment (I), and government…

Question

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Homework Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Compensation of employees. U.S. exports of goods and services Billions $194.2 17.8 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 40.5 Net foreign factor income 2.2 Personal consumption expenditures Statistical discrepancy Instructions: Round your answers to 1 decimal place. a. GDP $ 219.1 0.0 billion b. NDP = $ billion c. NI = $ billion
How does the decline of natural resources and biodiversity affects Gross Domestic Product and Gross National Product?
what is the difference between Gross Domestic Product and Gross National Product? Would the difference be large or small for developed country? Defend your stand and give examples
Use the following composition of expenditure for the economy of a countrynamed the Republic of Tapuwa, for the year ended 2019 to answer thequestions below: COMPONENT R millions Consumption expenditure (C) 9 000 Investment (I) 6 500 Government spending (G) 7 000 Exports (X) 1 800 Imports (Z) 2 400 Depreciation 700 Foreign payment to the rest of theworld 300 Foreign payment from the rest of the world 250 Q1. Calculate the value of the country’s GDE (Gross DomesticExpenditure). Q2. Compute the value for the country’s GDP (Gross Domestic Product)at market price.
Use the following composition of expenditure for the economy of a country named the Republic of Tapuwa, for the year ended 2019 to answer the questions below: COMPONENT R millions Consumption expenditure (C) 9 000 Investment (1) 6 500 Government spending (G) 7 000 Exports (X) 1 800 Imports (2) 2 400 Depreciation 700 Foreign payment to the rest of the 300 world Foreign payment from the rest of the 250 world Show all calculations and formulae. Q.7.2.1 Calculate the value of the country's GDE (Gross Domestic Expenditure). Q.7.2.2 Compute the value for the country's GDP (Gross Domestic Product) at market price. Q.7.2.3 Determine the value of the country's NNI (Net National Income) at market price. Q.7.2.4 Ifit is predicted that the GDP will increase to 22 000 in 2020, calculate the growth rate between 2019 and 2020. Q.7.2.5 The measure of GDP for economic growth is not always perfect. Describe any two problems that are associated with GDP as a measure of economic growth.
What describes as Gross Domestic Product of a country?
Which of the following would increase gross private domestic investment in an economy? Select one: A. An increase in the number of highway construction projects the government is funding. B. An increase in the level of Apple's inventory. C. An increase in the shares of Apple stock households own. D. An increase in the number of workers Apple hires.
The total production made by the major industries of a country comprises the country’s _______. a. Gross output b. Net Income c. Gross domestic product d. Gross income
To arrive at the National income using the value added method, what has to be added to the net output? a. investments from the private sector b. Imports c. government spending and taxes d. net foreign factor income from abroad
What would be the answer?
Factor income from abroad is ____________. a. Included in the GDP b. Not included in the GDP c. Similar with the GDP d. Similar to exports
Jamaica's Gross National Product would be increased by: a. Outflows of net property income b. Imports of goods and services c. Profits earned in a Jamaican-owned factory in another country overseas d. Taxes on domestic expenditure