Question 6 Suppose the economy is closed with national saving of $8 trillion, consumption of $20 trillion, and government purchases of $4 trillion. What is GDP? $23 trillion $19 trillion $32 trillion $27 trillion 2 pts
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- Question # 6 Based on the following data for a hypothetical economy Millions Wage and salaries Government Purchases Exports Rental Income Profit Interest Consumption and spending Imports Private investment Spending $6000 $2000 $2650 $450 $1600 $1000 $4800 $2400 $2000 a. Calculate the GDP using expenditure approach: b. Calculate the GDP using income approach: c. Suppose that in the next vear export deerease to 1650 million. Import increase to 3400 million and consumption falls to 2800 million. What will the GDP be in that year?Solution very fast I give u thum1. If imports are $2 trillion, exports are $1.9 trillion, consumption is $3.8 trillion, investment is $700 billion, and government spending is $1.1 trillion, how much is GDP? 2. If consumption is $2.5 trillion, investment is $900 billion, government spending is $700 billion, imports are $1.2 trillion and exports are $1.4 trillion, how much is GDP?
- The following are a year's data for a hypothetical economy. Comsmption $400B, Government purchases $350B, GDPI $150B, Exports $150B, Imports $100B, Depreciation $50B. a) what is the value of GDP and NDP? b) what is the value of Net private Domestic investment ? c) suppose that in the next year exports increases to $175B, imports increase to 200B, and consumption falls to 350B. What will GDP be in that year?A C E pleaseIna hypothetical economy, real GDP is $35 trillion, the capital stock is $100trillon, household savings is $5 trillion business savings is $4 trillion the net capital outfow is $2 trillion, and the budget deficit is S$1 trillion. National savings in this economy is O $8 trillion $8.5 trillion $9 trillion $75 trillion SO00O
- 450 Potential GDP C+1+G+X-IM) E T 4,000 5,000 6,000 Real GDP (billions of dollars per year) In Figure 11-1, to achieve equilibrium at potential GDP, the government could ONone of the above is correct. increase government purchases. decrease transfer payments. increase taxes. Real Expenditure1. If imports are $2 trillion, exports are $1.9 trillion, consumption is $3.8 trillion, investment is $700 billion, and government spending is $1.1 trillion, how much is GDP? 2. If consumption is $2.5 trillion, investment is $900 billion, government spending is $700 billion, imports are $1.2 trillion and exports are $1.4 trillion, how much is GDP? Example: If GDP rises from $6 trillion in 1994 to $8 trillion in 1999 and the GDP deflator in 1999 is 110, find real GDP in 1999 and find the percentage increase in real GDP between 1994 and 1999. First, we are asked to find real GDP in 1999. To do this we divide the nominal GDP, which is $8 trillion ($8,000 billion), by the GDP deflator for 1999, which is 110. This then is multiplied by 100. Real GDP in 1999 is $7,273 billion or $7.2 trillion. To find the percent change you must find the difference of real GDP between 1999 and 1994. Change in GDP = 7,232 – 6,000 = 1,232 You then take this difference and divide it by GDP in…Plz help me i need an economic expert
