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A: The consumption includes only the spending by domestic households on the final goods whether they…
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A: GDP is the gross domestic product. GDP is defined as the market value of all the final goods and…
Q: the components of gdp
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A: A key economic indicator that measures the total monetary value of all goods and services produced…
Q: Define GDP
A: GDP or Gross Domestic Product is an indicator of growth.
Q: Which of the following is the equation for Gross Domestic Product A. G + D + P B. C + G + I + X C. C…
A: GDP is the GDP of a country. It estimates the complete final market worth of all goods and services…
Q: Which of the following would be counted as part of the GDP? a) the value of your fixing your…
A: Gross Domestic Product(GDP) is defined as the market value of all the goods and services produced in…
Q: what is Value Added at Producer Price and Value Added at Purchaser Price. How are they calculated
A: Value-added at producer price: The producer's prices are the prices which are received by the…
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Q: Define the Gross national product (GNP). Please explain in two or more paragraph.
A: The gross national product (GNP) refers to an estimate of the total worth of all finished goods and…
Q: Which of the following goods would be included in the calculation c gross domestic product? Steel…
A: Gross domestic product (GDP) is the total value of goods and services that are produced domestically…
Q: Gross domestic product measured in terms of the prices of a fixed, or base, year is O a nominal GDP…
A: GDP is the gross domestic product. GDP is defined as the market value of all the final goods and…
Q: hich of the following would be included in the calculation of gross domestic product (GDP)? The…
A: The gross domestic product refers to the production of goods and services during an accounting year.…
Q: The total market value of all final goods and services produced within a given period by factors of…
A: Factors of production: - The inputs that are used to produce goods and services known as the factors…
Q: Gross Domestic Product If nominal GDP in 2005 was $13095.4 billion and the GDP deflator (price…
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Q: What is the contribution to GDP?
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Q: Why are intermediate goods and services excluded when calculating the value of GDP
A: Intermediate goods are used for making other goods for selling them to customers.
Q: Why does gross domestic product measure the final value of goods and services produced in a country…
A: Final goods are those goods standard measure of the value-added created by the production of goods…
Q: The American Airline purchased an airplane from a Chinese company for $60M. What is the contribution…
A: Gross domestic product refers to the final value of all final goods and services produced in a…
Q: produces apples, 1200 to consumers (final users) and 700 to Firm 2. Firm 2 produces apple juice,…
A: In GDP we include only the value of final goods and services produced within the given fiscal year.…
Q: What does GDP stand for in economics? A) Gross Domestic Profit B) Gross Domestic Price C) Gross…
A: GDP refers to the total monetary value of all final goods and services that a nation produces in its…
Q: ude? The value of goods produced domestically and sold abroad The value of intermediate goods…
A: GDP is the total output produced in the economy which also represents income generated.
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A: Electricity is consumed normally by people just as they consume other goods. Consumer have to pay…
Q: Personal consumption expenditures $5,850 Exports 750 Government spending 1,800 Social Security…
A: 1. Gross Domestic Product (GDP)=C+I+G+X-M=5850+1200+1800+(750-1150)=$8450
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Q: nominal GDP is $
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Q: GDP at market prices R397bn Net primary income payments to the rest of the world R37bn Indirect…
A: Net national product (NNI) at factor cost can be calculated by using the following formula.
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A: The gross domestic product is an economic term which sometimes is also called GDP, it can be defined…
Q: Which of the following are included in the year’s GDP? which are excluded? Explain your answers…
A: GDP comprises of expenditure carried out by domestic or foreign players on the production of…
Q: Define Gross Domestic Product and Gross National Product (GNP). Explain the difference between Gross…
A: Gross Domestic Product and Gross National Product are methods of national income accounting.
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A: GDP gross domestic product, is the sum of final goods and services produced in the economy within a…
Q: An industry buys $3.75 million worth of resources to make a product. The industry makes 750,000…
A: Value-added is the variation between the charge of manufactured goods or facility and the price of…
Q: Gross Domestic Product If nominal GDP in 1975 was $1699.9 billion and the GDP deflator (price…
A: The real GDP is the market value of all final goods and services produced in an economy during an…
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Gross Domestic Product represents...
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- When calculating nominal GDP, the volume of output is measured using? Multiple Choice weight. the market value adjusted for inflation. the number of people employed. the current market value.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 0Gross domestic product is a measure of _______.the nonmarket production of goods and services.the volume of goods and services, which involved in international tradethe goods and services produced strictly by corporations.the money value of all final goods and services produced in a year by the economy.the size of the largest industry in an economy.
- The table below contains data for country A for the year. Household purchases of durable goods Household purchases of nondurable goods Household purchases of services Household purchases of new housing Purchases of capital equipment Inventory changes Purchases of new structures Depreciation Salaries of government workers Government expenditures on public works Transfer payments Foreign purchases of domestically produced goods Domestic purchases of foreign goods What was country A's GDP? $1293 $1717 $301 $704 $310 $374 $611 $117 $1422 $553 $777 $88 $120The value of national income is $3100 million and the value of net factor income from abroad is $600 million Calculate the value of NDPFCWhich of the following is NOT one of the forms of production that is excluded in GDP? A. Household production B. Illegal production C. The under ground economy D. Production of services
- Net domestic product (NDP) is determined by...Which of the following is not included in GDP? 1) the payments for a chiropractor's services 2) cash income paid to a day laborer that is not reported to the tax authorities 3) the replacement of brake pads on your six-year-old vehicle 4) the fees for legal services rendered by your lawyerWhich is not considered to be a GDP investment? The building of an apartment complex Additions to inventories at steel plants Purchase of shares of company stock Construction of a new factory
- 2015 2016 2017 Nominal GDP (in millions) Gross domestic product Q1 Q1 Q1 17,874.7 18,325.2 19,057.7 Personal consumption expenditures Gross private domestic investment Net exports of goods and services Exports Imports Government consumption expenditures and gross investment 12,142.2 12,571.5 13,191.6 3,094.6 3,031.6 3,128.7 -538.2 -526.2 -582.8 2289 2,166.5 2,295.6 2,827.3 2,692.8 2,878.4 3,176.2 3,248.3 3,320.2 12, Calculate the percentage change in nominal GDP between 2015 Q1 and 2016 Q1. a. 4.0% b. 3.84% 2.46% d. 2.52%The country of Econostan had the following expenditures last year: $600,000 in consumption expenses, $90,000 in government purchases, and $150,000 in investment expenses. Further, $75,000 of the products bought last year in Econostan were made in other countries and $55,000 of the products made in Econostan were exported to other countries. What was the gross domestic product of Econostan?Indicate what components of GDP (if any) each of the following transactions would affect. Check all that apply. Transaction Consumption Investment Government Purchases Net Exports Your parents buy a bottle of French wine. Uncle John receives a check from the federal government for unemployment insurance benefits. Ford manufactures a Focus and sells it to Avis, the car rental company. Your parents pay an accountant to file their tax returns. Ford sells a Mustang from its inventory to the Martinez family. Aunt Jane buys a new house from a local builder. Aunt Polly buys a new air conditioner from a domestic manufacturer. Texas hires public middle school teachers.