QUESTION 16Which items are added together to get Gross Domestic Product?OA. Consumption, government spending, net exports, and treasury bondsO B. Consumption, Interest payments, government spending, and net exportOC Consumption, investment, government spending, and net exportsO D.Consumption, aggregate demand, aggregate supply, and net exportsQUESTION 17Which of the following would NOT be included in GDP?OA. a haircut at Styles of tomorrowOB. Buying 1.000 s of Amazon StockOC Buying gasoline at Exxon MobilO D. All of the above woud be includedQUESTION 18A policeman's salary would fall under which component of GDP?OA consumer spendingOB.private investmentOC.government purchaseO D-net exportsQUESTION 19In the market for paperback books, more people are reading books on kindles and ipads. Which of the following is likely to occurO A. The demand curve for paper back books will shift to the rightO B. Nane af the aboveO The supply curve of paperback books will shift to the rightO D. The demand curve for paper back books will shift to the leftQUESTION 20Which of the fallawing is not an illustration of the notion of opportunity costO A. The production of more military goods means fewer resources are available for civilian goods.O B. The land a Kansas farmer plants in wheat is not available for corn production.O CIFI buy a pizza, I will not be able to afford a mavie.O D.A growing economy can produce more consumer goods and more capital goods at the same time.

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QUESTION 16 Which items are added together to get Gross Domestic Product? OA. Consumption, government spending, net exports, and treasury bonds OD. Consumption, Interest payments, government spending and net export OC Consumption, investment, government spending, and net exports O D. Consumption, aggregate demand, aggregate supply, and net exports

QUESTION 16 Which items are added together to get Gross Domestic Product? OA. Consumption, government spending, net exports, and treasury bonds OD. Consumption, Interest payments, government spending and net export OC Consumption, investment, government spending, and net exports O D. Consumption, aggregate demand, aggregate supply, and net exports

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Table 1 Real GDP Consumption Planned Investment Government Purchases Net Exports $2,000 $1,600 $250 $250 $100 2,500 2,000 250 250 100 3,000 2,400 250 250 100 3,500 2,800 250 250 100 Table 2 Real GDP Aggregate Expenditure Unplanned Change in Inventories Real GDP Will... (increase, decrease, or be in equilibrium) $2,400 2,500 3,000 3,500 Examine the Table 1 information provided and perform the following activities for Table 2: For each level of Real GDP, calculate aggregate expenditure, unplanned change in inventories, and indicate what will happen to GDP (increase, decrease or be in equilibrium). Explain how you derived the Aggregate Expenditure and Unplanned Change in Inventories Explain how the values in the Unplanned Change in Inventories column dictate what will happen to the Real GDP.…
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Real Disp. Consmp. Income Spending Saving Invst Plnd Plnd Govt Net Plnd Exp. Export Exp. 10.8 GDP Tax 10 6.8 1.2 1.5 2 0.5 11 7.6 1.4 1.5 0.5 11.6 12 10 8.4 1.6 1.5 2 0.5 12.4 13 2 11 9.2 1.8 1.5 2 0.5 13.2 14 12 10.0 2.0 1.5 0.5 14.0 15 13 10.8 2.2 1.5 0.5 148 16 14 11.6 2.4 1.5 2 0.5 15.6 Note: Amounts in billions. Refer to the above table. The equilibrium real GDP is $15 billion. $14 billion. $13 billion. $12 billion.
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