Question 7 The table sets out some data for an economy. Item Consumption expenditure Indirect taxes less subsidies Interest, rent, and profit Investment Government expenditure 3 tries left (dollars) 7,000 GDP is $ Type 700 220 Wages Net exports Use the expenditure approach to calculate GDP. 160 180 5,900 - 300

Q: components of GDP using the expenditure approach.

A: The expenditure approach to calculating gross domestics products for the nation, or GDP, uses these…

Q: You have learned about the different ways to measure GDP. Match the types of data with either…

A: 1) Demand Side Method:The demand side method focuses on measuring the total spending or demand for…

Q: What items are included in the calculation of GDP using the income approach ?

A: GDP refers to market value of good and services produced in a country in current period of time  So…

Q: Calculate net exports if it's given that exports is $350 million and imports is $100 million

A: We need to calculate the value of net exports with given information:- Exports in the economy = $350…

Q: what factors/components impact the decrease in GDP?

A: Gross domestic product is the monetary value of every completed great and services made inside a…

Q: What is the difference between the expenditure method and the value-add method for calculating GDP?

A: Gross domestic product is the total value of goods and services produced in a nation in a particular…

Q: If consumption is $15 trillion, investment spending $8 trillion, government purchases $7 trillion,…

A: C or Consumption expenditure is the expenditure incurred on the consumption by households.G or…

Q: Why the components of GDP exhibit behaviors much different than GDP itself?

A: Gross Domestic Product refers to the sum total of the goods and services produced in the economy…

Q: Which of the following is considered in the consumption component of the United States' GDP?

A: GDP is the sum of consumption, investment, government purchases, and net export.  i.e., GDP =…

Q: None

A: Gross Domestic Product (GDP) is a key measure used to gauge the economic performance of a country.…

Q: Does the expenditure approach to computing GDP measure U.S. spending on all goods, U.S. spending on…

A: Gross domestic product (GDP) is the absolute value of final products and services manufactured in an…

Q: Define GDP. Identify the four components of GDP, used by government economists, when using the…

A: GDP: The gross domestic product i.e. GDP is the value of all finished goods and services or products…

Q: Saved Intermediate goods, which are goods that go into the production of other goods, are directly…

A: Answer to the question is as follows:

Q: Expenditures approach to GDP

A: GDP (gross domestic product) of a country is the market value of all final commodities and services…

Q: What is Potential GDP and give an example?

A: Potential GDP is similar to normal GDP, but rather than only representing the final market value of…

Q: I cash out my stock to cash.  How does this effect the gdp

A: In an economy, gross domestic product considers all the final goods and services that are generated…

Q: What is GDP in econimic terms?

A: The Gross Domestic Product (GDP) is the standard measure of value-added produced during a certain…

Q: The equivalence of expenditure and income. What is the U.S total income in 2016 consisted of

A: The equivalence of tax and expenditure is total income. Total income of country varies according to…

Q: Define GDP and its various components in details.

A: FEEL FREE TO ASK FOR CLARIFICATIONS.

Q: Explain the shortfalls of analyzing GDP, by itself, to assess the state of the economy

A: Gross domestic product or GDP is considered to be a standard metric that is used to measure the…