0호<2/2 -Part BGDP: Where and what is counted?For each of the following items, write one of the following in the space provided.C if the item is counted as consumption spendingI if the item is counted as investment spendingGif the item is counted as government spendingX if the item is counted as exportsM if the item is counted as importsNC if the item is not counted in the calculation of the GDP11. You spend $7.00 to see the latest Justin Bieber movie.12. A family pays a contractor $100,000 for a house he built for them this year.13. A family pays $75,000 for a house built three years ago.14. An accountant from Ernst & Young purchases a new Italian suit.15. The government increases defense expenditures by $1,000,000,00016. A homemaker works hard caring for her spouse and two children.17. Ford Motor Company buys new auto-making robots.18. Apple Computer builds a new factory in the United States.19. You buy a new Toyota Tacoma that was made in Japan.20. A Japanese airline purchases two new Boeing 747s ("these are made in WA)

GDP refers to the production of goods and services during an accounting year. The production in past…

Part B GDP: Where and what is counted? For each of the following items, write one of the following in the space provided. C if the item is counted as consumption spending I if the item is counted as investment spending 6:5

Part B GDP: Where and what is counted? For each of the following items, write one of the following in the space provided. C if the item is counted as consumption spending I if the item is counted as investment spending 6:5

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Dollars (trillions) 25 20 15- 10- 0 -5 11 Expenditure components of nominal GDP 1950 GDP (Y) Consumption (C) Investment (1) Government spending (G) Exports (X) Imports (M) 1960 Figure Data Notes 1970 198 1990 2000 2010 The following will refer to the data table in the chart above, to access the data table for this graph you will need to click on the data button at the bottom of the chart. In Q2 of 2008 which of the following were above 9 trillion dollars (annualized)? Select the two correct answers.
12. Measuring GDP The following table shows data on consumption, investments, exports, imports, and government expenditures for the United States in 2016, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the table to calculate GDP using the expenditure approach. Data (Billions of dollars) Consumption (C) 12,757.9 Investment (I) 3,035.7 Exports (X) 2,232.4 Imports (M) 2,733.7 Net Exports of Goods and Services Government Purchases (G) 3,276.7 Gross Domestic Product (SDP)
Instructions: Answer the following questions Question 1 $ Total consumer expenditure 400 000 Government spending 148 000 Gross domestic capital formation 160 000 Value of physical increases in stock 8 000 Export of goods 72 000 Import of goods 68 520 Subsidies 5 560 Taxes on expenditure 6 960 Capital consumption 22 000 Income from abroad 31 600 Income paid abroad 29 600 Use the information above to calculate GDP using the expenditure method
Computation of GDP by the expenditures method would include the purchase of A. fertilizer by a farmer b. government bonds by a commercial bank. c. cement from a construction company d. Land by the U.S department of interior.
Construct the Circular Flow Diagram to show how GDP is calculated. Show the relationship between Product Markets, Firms Factor markets and Households. Label all parts and describe.
Which variable constitutes the largest portion of GDP using the expenditure method? A. Xn B. G C. C D. I
What component of the GDP (Gross Domestic Product) would you classify a product or service Microsoft creates ?
The computation of GDP by the income approach requires adding the income derived from the production and sales of final goods and services. What are the 6 income items AND what does the sum of these 6 incomes equal?
Typed plz and Asap thanks
Find the last year GDP data and the personal consumption expenditure data (in billions) for the US economy. Section 1: Domestic Product and Income
Part 2: GDP is a measure of our economic well-being, though this measure omits some things that are important in describing how well-off we are. Provide 3 specific examples of things that your think are important to you or to society, but which are omitted from the GDP measure. Reply
Question 21 GDP can be calculated using the way people earn money (but not the way people spend money). the difference between the way people earn money and the way they spend it. the way people spend money (but not the way people earn money). either the ways people earn money or the ways people spend money.