please fill in the blank for all questions Fill in the blank using the number that corresponds to the correct word or phrase in the word bank below:1. net exports2. investment3. capital4. government purchases5. gross private domestic investment6. government spending7. trade surplus8. government spending9. final10. GNP11. boarders12. GDP13. owned14. 70%15. households16. transfer payments17. negative net exports18. final19. values addedPersonal consumption is a flow variable that measures the value of goods and services purchased byduring a time period. The production of consumer goods and services accounts for aboutof total output.is the value of all goods produced during a period for use in the production of other goods and services.includes all the goodsthat have been produced for use in producing other goods.in economics refers to activities that increase the economy's stock of capital.are the sum of purchases of goodsand services from firms by government agencies plus the total value of output produced by government agencies themselves during a time period. Government purchases are not the same thing as. Muchgovernment spending takes the form of transfer payments, which are payments that do not require the recipient to produce a good or service in order to receive them.do not count in a nation's GDP,because they do not reflect the production of a good or service. Subtracting imports from exports yields. When exports exceed imports there is a. A trade deficit impliesGDP is the total value of allgoods and services produced during a particular period valued at prices in that period. To avoid double counting theat each stage in the production process can be added. Gross national product (GNP) is the total value of final goods and services produced during a particular period with factors of productionby the residents of a particular country. The difference between GDP and GNP is that the GDP of a country equals the value of final output produced within theof thatcountry while the GNP of a country equals the value of final output produced using factorsby residents of the country.plus net income received from other countries equalsGNP is the measure of output typically used to compare incomes generated by different economies.

Gross domestic product estimates the worth of labor and products delivered inside a nation's…

in the blank using the number that corresponds to the correct word or phrase in the word bank below 1. net exports 2. investment 3. capital 4. government purchases 5. gross private domestic investment 6. government spending 7. trade surplus 8. government spending 9. final 10. GNP 11. boarders 12. GDP 13. owned 14. 70% 15. households 16. transfer payments 17. negative net exports 18. final 19. values added Personal consumption is a flow variable that measures the value of goods and services purchased by during a time period. The production of consumer goods and services accounts for about of total output. is the value of all goods produced during a period for use in the production of other goods and services. includes all the goods that have been produced for use in producing other goods. in economics refers to activities that increase the economy's stock of capital. are the sum of purchases of goods and services from firms by government agencies plus the total value of output produced by government agencies themselves during a time period, Government purchases are not the same thing as Much

in the blank using the number that corresponds to the correct word or phrase in the word bank below 1. net exports 2. investment 3. capital 4. government purchases 5. gross private domestic investment 6. government spending 7. trade surplus 8. government spending 9. final 10. GNP 11. boarders 12. GDP 13. owned 14. 70% 15. households 16. transfer payments 17. negative net exports 18. final 19. values added Personal consumption is a flow variable that measures the value of goods and services purchased by during a time period. The production of consumer goods and services accounts for about of total output. is the value of all goods produced during a period for use in the production of other goods and services. includes all the goods that have been produced for use in producing other goods. in economics refers to activities that increase the economy's stock of capital. are the sum of purchases of goods and services from firms by government agencies plus the total value of output produced by government agencies themselves during a time period, Government purchases are not the same thing as Much

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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