QUESTION 1$90,000 worth of strawberries are sold to individuals who take them home to eat, $120,000 worth of strawberries are sold to a company that uses them to producejelly, and $170,000 worth of strawberries are sold to a grocery store that will sell them to households. How much of the sales will be included as strawberries in theGross Domestic Product?a.$90,000b.$120,000С.$380,000d.$170,000adQUESTION 2Grapes are considered intermediate goodsa.whether the purchaser uses them to make wine to sell or eats them.b.if the purchaser uses them to make wine to sell others but not if the purchaser eats them.if the purchaser eats them, but not if the purchaser uses to them to make wine to sell.C.d.None of the above is correct.O a

Option (c) is correct. Option (b) is correct.

QUESTION 1 $90,000 worth of strawberries are sold to individuals who take them home to eat, $120,000 worth of strawberries are sold to a company that uses them to produce jelly, and $170,000 worth of strawberries are sold to a grocery store that will sell them to households. How much of the sales will be included as strawberries in the Gross Domestic Product? a. $90,000 b. $120,000 C. $380,000 d. $170,000 a QUESTION 2 Grapes are considered intermediate goods a. whether the purchaser uses them to make wine to sell or eats them. b. if the purchaser uses them to make wine to sell others but not if the purchaser eats them. if the purchaser eats them, but not if the purchaser uses to them to make wine to sell. None of the above is correct. C. d. O a

QUESTION 1 $90,000 worth of strawberries are sold to individuals who take them home to eat, $120,000 worth of strawberries are sold to a company that uses them to produce jelly, and $170,000 worth of strawberries are sold to a grocery store that will sell them to households. How much of the sales will be included as strawberries in the Gross Domestic Product? a. $90,000 b. $120,000 C. $380,000 d. $170,000 a QUESTION 2 Grapes are considered intermediate goods a. whether the purchaser uses them to make wine to sell or eats them. b. if the purchaser uses them to make wine to sell others but not if the purchaser eats them. if the purchaser eats them, but not if the purchaser uses to them to make wine to sell. None of the above is correct. C. d. O a

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Gross Domestic Product is equal to the market value of all the final goods and services O A. produced within a country in a given period of time. B. consumed by the citizens of a country O C. consumed within a country D. produced and consumed within a country E. produced by the citizens of a country Click to select your answer. MacBook Air DII F8 000 000 F7 F6 F5
32. Giving reason explain how should the following be treated in estimating Gross Domestic Product at Market Price ? (i) Fees to a mechanic paid by a firm. (ii) Interest paid by an individual on a car loan taken from a bank. (iii) Expenditure on purchasing a car for use by a firm
The following table shows the national income data for an economy in year 2020. ITEMS Dividends Interest on government loan Undistributed profit Gross interest Subsidies Corporate income taxes interest on consumer loan Indirect taxes Gross Domestic Product at factor cost Depreciation Wages and salaries Rent Corporate income before taxes You are required to calculate: (a) net interest. (b) corporate profit. (c) National Income. (d) Gross National Product at factor cost. Net factor income from abroad. RM (Million) 160 100 125 990 120 180 90 160 4,370 250 1,080 645 710
Q1) From the following table ,National income, Personal income and Disposable personal income In millions of dollars __________________________________________ Transfer payments1500 Subsidies 500 Social insurance payments3500 Depreciation 5000 Receipts of factor income from the rest of the world 400 Government consumption and investment7500 Imports 5000 Payments of factor income to the rest of the world 500 Personal interest income from government and households3500 Indirect taxes2000 Exports6000 Net private domestic investment 10000 Personal taxes6000 Corporate profits4500 Personal consumption expenditures 25000 Dividends 400
given the following calculate the Household Consumption Expenditure GDP at market prices 1,669.4 Imports 290.5 Gross domestic Capital Formation 48.7 Income Accruing to the public Sector 39 Retained Business Earnings 75.9 Exports 273.4 Subsidies 16.8 Factor Payments From Abroad 10 Capital Consumption Allowance 10.05 Income Payments to Foreigners 19.2 Direct Taxes 355.6 Public Sector Consumption Expenditure 490.1 Indirect Taxes 297.3 Transfer Payments 25.7
5. Which component of GDP includes spending on new structures and equipment?
• Holly has recently graduated from college and has bought a house that was built 50 years ago for $100,000. She used a real estate agent to help her find and purchase the house, and the real estate agent received 5 percent of the value of the sale, or $5,000, to be paid by the seller of the house. The value of GDP in this case would increase by $95,000. increase by $105,000 increase by $5,000. increase by $100,000.
$Millions GDP at market prices 1,669.4 Imports 290.5 Gross domestic Capital Formation 48.7 Income Accruing to the public Sector 39 Retained Business Earnings 75.9 Exports 273.4 Subsidies 16.8 Factor Payments From Abroad 10 Capital Consumption Allowance 10.05 Income Payments to Foreigners 19.2 Direct Taxes 355.6 Public Sector Consumption Expenditure 490.1 Indirect Taxes 297.3 Transfer Payments 25.7 calculate the following: a) disposable income b) Household Consumption expenditure
QUESTION 1 Himani and Ravi live in a deserted nation called Desertland. Himani spends all her time growing bananas and coconuts. This year, she harvested 1000 bananas and 500 coconuts. She values one coconut as worth two bananas. Himani gave Ravi 200 bananas and 100 coconuts in exchange for help in harvesting the fruits. Himani stored 100 bananas in her house for future consumption, while Ravi consumed all his bananas and coconuts. In terms of coconuts, calculate the GDP of Desertland using the following: 1a. Expenditure method 1b. Income method
The following provides data for an economy in a certain year. Consumption expenditures Imports Government purchases of goods and services $700 $1,000 $600 Construction of new homes and apartments $500 $600 $500 $300 $600 Sales of existing homes and apartments Exports Government transfer payments Household purchases of services Beginning-of-year inventory End-of-year inventory $500 $600 $300 Business fixed investment a.) How much did households spend on goods (durable and nondurable) during this year? [ Select ] b.) Compute the investment component (I) of GDP. [Select ] c.) After consumption, which sector of the economy contributed the most to GDP? [ Select ] d.) Does this economy have a trade deficit or a trade surplus? [ Select ] e.) What is the GDP for this economy? [ Select ] f.) What method are we using here to compute GDP? [ Select ]
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