In recent years, which of the elements of aggregate demand has become the main driver of growth in China and the proportionally largest part of its GDP equation? A net exports B government spending investment D consumption

In recent years, which of the elements of aggregate demand has become the main driver of growth in China and the proportionally largest part of its GDP equation? A net exports B government spending investment D consumption

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: Go to these links: https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?end=2018&start=2000…

A: We have taken India's GDP. GDP(current US $) in trillion is our nominal GDP. To calculate real GDP,…

Q: A Minnesota farmer buys a new tractor made in Iowa by a German company. As a result, U.S.…

A: The Gross Domestic Product (GDP) quantifies the total economic output and value of goods and…

Q: An island nation is in a steady state. A major hurricane passes over the nation and destroys half of…

A: Solow Model: It refers to the growth model under which long run economic growth can be shown. The…

Q: Let's normalize Canadian GDP in 2005 to 100. Out of that, consumption was 70, investment was 20,…

A: The GDP annual average rate of change for a given country economy over a specific time period,…

Q: Real GDP is a better measure of evaluating the economic growth of a nation than the nominal GDP

A: Real GDP refers to the country's GDP with the adjustments to numbers for deflation or inflation. On…

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: 12. Calculate per capita income for both countries. Express the answer in thousands.

A: Y=F (K, L) = AK0.3L0.7 12.…

Q: The U.S. economy normally grows. How fast does the U.S. economy normally grow in real terms?..

A: Real GDP growth rate, which accounts for inflation or deflation, quantifies economic growth as…

Q: Part 5: Answer the following questions for each country researched above Country 1: Germany Based on…

A: A developing country is with a less developed base for industry and has a lower Human Development…

Q: An emerging country has a real GDP of $1553.1 billion. After one year, real GDP has grown to $1677…

A: Real GDP is the money value of all final goods and services produced in an economy corrected for…

Q: Suppose Country A has the same GDP as Country B, and that neither nation’s residents own factors of…

A: After deducting personal income taxes, people's disposable personal income is what they have left.…

Q: A closed economy produces three products, bread, cloth and rice, in 2019 and 2020, as shown in the…

A: Nominal GDP are measure on current year price on the other hand Real GDP measure on Base year price.

Q: As a result of the increase in business confidence, the interest rate would now be. O a) i4 b) i2 c)…

A: National savings reflects the supply of funds or investment supply in an economy. It is supplied by…

Q: Babylonia and Yuan had the same GDP of 20 billion dollars in 1950. Babylonia grew at 7% each year…

A: There are two countries - Babylonia & Yuan Babylonia grows at 7 % Yuan grows at 5% Production…

Q: a. Consider the aggregate production function below, where point A indicates current GDP per worker,…

A: The solow model assumes a closed economy with a fixed savings rate, a constant population growth…

Q: An emerging country has a real GDP of $1446.7 billion. After one year, real GDP has grown to $1534…

Q: True/ False. Real GDP is a better indicator of economic growth than nominal GDP.

A: GDP stands for gross domestic product which means the total market value of final goods produced…

Q: According to the East Asia and Pacific Economic Update published by the World Bank in April 2015,…

A: 1. A) A global economic recovery increasing China's exports means higher foreign demand for Chinese…

Q: A closed economy is a national economy that: a. Has extensive trading and financial relationship…

A: An economy that does not tend to swap its trading with the outside economies is known as a closed…

Q: Argentina has net capital outflow of $2,000, government purchases of $10,000 and consumption of…

A: GDP is the Gross Domestic Product. GDP is the sum of consumption , Investment , Government spending…

Q: tion 11 nation's potential output/GDP is best described as: The maximum growth rate of output/GDP a…

A: GDP is the market value of final goods and services produced in the country within a period of time

Q: According to the figure showing 2020 GDP for selected countries, how much larger (in percentage…

A: GDP is the sum total of market value of final goods and services produced in a country during a…

Q: List the components of GDP in the output (expenditures) approach.

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Macroeconomics analyzes the growth in production, employment and income of a country in relation to…

A: We study macroeconomics for a better tomorrow. It studies an economy as a whole. Macroeconomics…

Q: Explain the following as effects of low policy rates to the growth of an economy: 1. It can cause…

A: 1.The policy rate is the key lending rate by the central bank in an economy. Thus, when the economy…

Q: 4) Real GDP in 1998 was 9066.9 Billion, and real GDP in 1999 was 9470.3 Billion. According to the…

A: Real GDP in 1998 = 9066.9 Billion Real GDP in 1999 = 9470.3 Billion

Q: hat is GNP? GNP is the market value of all the final goods and services _____. A. produced within a…

A: Macroeconomics refers to the branch of economics concerned with huge-scale or general economic…

Q: You want to explain Canada's GDP. You have quarterly data on GDP in current dollars from 2005 to…

A: GDP, the extended term is "Gross Domestic Product" refers to the final value of all the goods and…

Q: What were the approximate levels ($) of real GDP in the 2nd and 3rd quarters of 2020? (HINT: Use…

A: To get the growth rate in real GDP on a quarterly basis: Growth rate, g = (Q3-Q2)*100/Q2

Q: Country A produces GDP according to the following equation: GDP = 5√K. The country has a savings…

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

Q: Which of the following is not correct? a Gross domestic product is both total income in an economy…

A: a Gross domestic product is both total income in an economy and total expenditures on the…

Q: Saved Which of the following is not an adjustment made when comparing standards of living across…

A: When standard of living is compared across countries,each countrys GDP is not converted into U.S…

Q: Last year a country purchased $1.5 trillion worth of goods and services from foreign countries, sold…

A: here we calculate the value of domestic investment by using the given data so the calculation is as…

Q: You are going to compare and contrast the GDP of the United States to that of another country of…

A: Country2022 GDP (nominal, trillions of US dollars)2021 GDP (nominal, trillions of US dollars)2020…

Q: What happens in the long run for a country that increases its saving rate? O Productivity increases…

A: A greater saving rate leads to a higher steady-state capital stock and production level. The…

Q: 28.A puzzle: The share of GDP devoted to investment was similar for the United States and South…

A: The total value associated with all the final goods and services produced in an economy in a year is…

Q: If GDP is $20 trillion, how many years will it take for GDP to increase to $160 trillion if annual…

A: GDP=20 trillion Annual growth rate=10% Therefore 160*10/100=16

Q: Stagflation and recession are increasingly being used to describe where the economy might be headed.…

A: The measure that depicts the general increase in price level of goods and services in an economy…

Q: what explains the long-term differences in growth and thus present-day differences in levels of real…

A: Long term growth is measured in terms of 1. Per capita 2. GDP

Q: An economy is currently at it's steady state. Their depreciation rate is 6% and their capital stock…

A: Capital refers to the goods that are used in the process of production of other consumption goods.…

Q: Calculate GDP growth rate

A: GDP: The Economic growth of a country is measured in GDP terms where GDP is the measurement of the…

Q: Economists evaluate the success of an economy’s over all performance by how well it attains these…

A: The economic indicators of the country P economy would be the national income indicators including…

Question

100%

In recent years, which of the elements of aggregate demand
has become the main driver of growth in China and the
proportionally largest part of its GDP equation?
(A) net exports
B government spending
C investment
D) consumption

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

Step 2

Step 3

Step 4

Step by step

Solved in 4 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

Country A produces GDP according to the following equation: GDP = 5√K. The country has a savings rate of 27.6% and 8.8% of capital depreciates every year. What is this country's steady state amount of GDP? Round your final answer to two decimal places.
You choose Italy as a country ,gather information and accumulate Data of its GDP for the past 10 years. Analyze the trends of GDP in the last 10 years Analyze the contribution of different Business Sectors to GDP Analyze the growing Business Sectors in Economy - analyze their contribution to GDP and analyze their contribution to other Macro Economic Performance Indicators of the country. Support your argument with reasons Analyze the Sectors (if any) which are showing negative growth in the last (0 -10) years. Give reasons Analyze and give suggestions to the government that which Business sectors should be supported by the government for Economic Growth of the economy. give this and in 3000 words along with tables charts and graphs.
= 5√K and has a capital Country A produces GDP according to the following equation: GDP stock of 13,399. If the country devotes 13% of its GDP to producing or repairing investment goods, how much is this country currently investing? Rounds your answer to two decimal places.
What is the relationship in the growth rate of output and government spending in the graph?
Assume that a country experiences a permanent increase in its saving rate. Which of the following will occur as a result of this increase in the saving rate?
Country A produces GDP according to the following equation: GDP = 5√K. The country has a savings rate of 16.3% and 8.1% of capital depreciates every year. What is this country's steady state amount of GDP? Round your final answer to two decimal places.
If a nation's real GDP is growing by 6 percent per year, its real GDP will double in approximately ________. Answer to 2 decimal places.
Can you answer all four questions please. I need numbers 1-4 finished by tonight
As an economic and accounting analyst, which of the two should a government pay more attention for domestic and economic growth? increase importation of goods and services increase export of goods and services Choose the best answer and explain.
Use the data on real GDP in the following table to answer the questions. Country Mexico France 2017 2018 2019 $4,553 $4,632 $4,630 5,432 5,531 5,613 United States 17,432 18,144 19,092 Note: All values are in billions of domestic currency at constant prices. Source: International Monetary Fund, World Outlook Database, January 2021. The country that experienced the highest rate of economic growth during 2018 is percentage rounded to two decimal places.) The country that experienced the highest average annual growth rate between 2018 and 2020 is (Enter your response as a percentage rounded to two decimal places.) 2020 $4,228 5,145 18,423 The country that experienced the largest percentage decline in real during 2020 is rounded to two decimal places and include a minus sign.) with a growth rate of %. (Enter your response as a with an average annual growth rate of with a growth rate of % (Enter your response as a percentage Time Remaining: 02:07:08 Next
The CDB said that its projection of growth comes after an extremely difficult year in which the economies of its 19 borrowing member countries (BMCs) contracted by 12.8 percent on average due to the onset of novel coronavirus. “In 2020, the majority of BMCs registered double-digit declines in GDP. Countries with significant tourism industries, such as The Bahamas, Barbados, Belize, Cayman Islands, Dominica, and Grenada, were hard-hit by a more than 70 percent drop in overnight visitors in 2020, which spilled over to affect other economic sectors. An increase in agricultural production in Jamaica could not prevent the economy from shrinking by 10.4 percent. Agriculture in Belize was affected by a severe drought from the previous year and then a reduction in tourism-related demand. The economy contracted by 13.3 percent. Guyana was the only economy to record economic growth (26 percent), solely due to the start-up of its first oil production. However, growth was lower than expected due…
Assume that a economy holds two factors of production, human capital managed by native-born workers and low skilled employees. If large migration of low skilled migrants occurs, how will the influence the aggregate GDP of the native population?