QUESTION 17A dairy buys $100,000 worth of milk and spend $10,000 on cartons and utilities. It sells the cartons of milk to a grocery store for $120,000 that then sells all of thecartons to consumers for $130,000. How much do these actions add to GDP?a.$110,000b.$220,000С.$130,000d.None of the above are correct.O aO dQUESTION 18Which of the following domestically produced items is not included in GDP?a.a deodorantb.a hairdryerC.a haircutd.All of the above are included in GDPO bit to save and submit. Click Save All Answers to save all answers.

Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced…

QUESTION 17 A dairy buys $100,000 worth of milk and spend $10,000 on cartons and utilities. It sells the cartons of milk to a grocery store for $120,000 that then sells all of the cartons to consumers for $130,000. How much do these actions add to GDP? a. $110,000 b. $220,000 C. $130,000 d. None of the above are correct. O a O d QUESTION 18 Which of the following domestically produced items is not included in GDP? a. a deodorant b. a hairdryer C. a haircut d. All of the above are included in GDP a O b d. AlL Answers to save all answers.

QUESTION 17 A dairy buys $100,000 worth of milk and spend $10,000 on cartons and utilities. It sells the cartons of milk to a grocery store for $120,000 that then sells all of the cartons to consumers for $130,000. How much do these actions add to GDP? a. $110,000 b. $220,000 C. $130,000 d. None of the above are correct. O a O d QUESTION 18 Which of the following domestically produced items is not included in GDP? a. a deodorant b. a hairdryer C. a haircut d. All of the above are included in GDP a O b d. AlL Answers to save all answers.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Classify each of the following items as a final good or an intermediate good, and identify whether it is a component of consumption expenditure, investment, or government expenditure on goods and services: Item 1. Packing boxes bought by Amazon.com. Item 2. Starbuck's grande mocha frappuccino bought by a student. Item 3. A new limousine for the president. Item 4. New airplanes bought by United Airlines. Item 1 is and item 2 is O A. an intermediate good; a final good that is consumption expenditure B. a final good that is consumption expenditure; a final good that is consumption expenditure C. a final good that is consumption expenditure; a final good that is investment D. an intermediate good; a final good that is investment Item 3 is and item 4 is O A. an intermediate good; an intermediate good O B. a final good that is government expenditure; a final good that is investment O C. an intermediate good; a final good that is investment D. a final good that is government expenditure; an…
Urgently need The income components of GDP include all of the following except? A. indirect taxes B. interest income C. employee compensation D. foreign income
Which would be included in the category of investment spending in the calculation of GDP? O The purchase of stock in MacDonald's. The purchase of a new machine by Ford. O The selling of IBM corporate bonds. O The buying of shares of Janus mutual funds.
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a. Consider an economy which produces and sells, among a host of other things, 100 million T‑shirts a year. The average T‑shirt begins life when a farmer plants seeds she put away last year, waters them, and harvests the cotton, then sells the cotton to a mill for $0.75, which sells the fabric to a T‑shirt factory for $1.50, which sells its T‑shirts to a wholesaler for $5, who sells it to Nordstrom for $10, which finally sells it to you for $17. Determine the impact of T‑shirts on annual GDP by calculating the value added of the entire production process. b. Now, calculate the amount spent on T‑shirts in a year if 100 million T‑shirts are sold, each for $17. How does this compare to the amount calculated through the value‑added method?
Refer to the Table. Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 3 is Year 1 Good X 60 Good Y 100 OA) $204. OB) $222. OC) $250. OD) $270. Production Year 2 80 110 Year 3 100 130 Year 1 $1.00 $0.80 Prices Year 2 $1.00 $0.90 Year 3 $1.40 $1.00
Use the following table to answer this question The components of GDP in the accompanying table were produced by the Bureau of Economic Analysis. Consumer spending Durable goods Nondurable goods Services Investment spending Fixed investment spending Nonresidential Structures Equipment and software Residential Change in private inventories Net exports Exports Imports Government purchases of goods and services Federal Category National defense Nondefense State and local What is the value of l? O A. $9,710.2B. O B. $2,130.4B. O C. $2,674.8B. O D. $5,794.4B Components of GDP in 2020 (billions of dollars) $1,082.80 2,833.00 5,794.40 2,134.00 1,503.80 480.3 1,023.50 630.2 -3.6 1,662.40 2,370.20 979.3 662.2 317.1 1.695.50
Economics Use the table to answer the question 2015 Quantity Price Hotdogs 152 2 T-shirts 92 26 Toy cars 36 11 2016 Quantity Price Hotdogs 163 3 T-shirts 95 30 Toy cars 41 15 Refer to the table above. The table gives the quantities produced and prices in 2015 and 2016. What is chained-dollar real GDP of 2015 in 2016 dollars? O A. 3760.62 O B. 3820.32 O C. 3251 OD. 3342.17 O E. None of the above undefined
18. If consumers in the U.S. buy $3.5 billion of clothes made by businesses in Bangladesh, how is this accounted for in the expenditure categories? a. this is spending on a consumer good so GDP rises b. the clothes are imports so they reduce GDP c. the clothes are both consumer goods and imports so GDP doesn't change d. the GDP could rise or fall, it depends on whether the clothes were taxed
Question 7 Which of the following would be counted in this year's GDP? O a O b O C Od Question & What is the difference between real GDP and nominal GDP? O a O b Column A 1. 2. C d Question 9 Match each phase of the business cycle to its correct definition. 3. The bonus check a worker receives this year the value of a loan taken out this year The value of a savings bond sold by the federal government to investors this year The value of a television produced last year but sold this year 4 Real GDP allows for depreciation; nominal GDP allows for no depreciation. Real GDP includes nonmarket activities; nominal GDP has no nonmarket activities. Real GDP is based on constant prices; nominal GDP is based on the current year's prices. Real GDP is accurate to hundreds of dollars; nominal GDP is accurate to thousands of dollars. period of economic decline marked by falling real GDP a period of economic growth as measured by a rise in real GDP the height of an economic expansion, when real GDP…
Question 18 Which of the following is included as investment in GDP? i. cars produced during the year but unsold at the end of the year ii. new capital equipment produced and purchased during the year iii. purchases of a company's stocks and bonds Oi only O ii only O iii only i and ii O i, ii, and iii Moving to another question will save this response.