QUESTION 8 Estimates of the values of which of the following non-market goods or services are included in GDP? a. the value of unpaid housework b. the value of services provided by major household appliances purchased in a previous period c. the estimated rental value of owner-occupied homes d. All of the above are included in GDP.

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A: The gross domestic product(GDP) calculates the market value of all the final commodities(goods and…

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A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…

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A: Government spending is one of the important part of aggregate spending in the economy.

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Q: The nominal GDP for 2016 was $17,500 and the real GDP was $13,000   Calculate GDP deflator

A: The data presented in the question is:- For 2016,  Nominal GDP = $17,500 Real GDP = $13,000 We have…

Q: Why are intermediate goods and services excluded when calculating the value of GDP

A: Intermediate goods are used for making other goods for selling them to customers.

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A: 4,7,8 and 9 would be included in GDP.

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A: "Since you have asked a question with multiple sub-parts, we will solve the first three sub-parts…

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A: GDP is the sum of final goods and services produced in an economy in the given year within the…

Q: Wheat and baking sector Dairy sector Sandwich sector 100 Cheese sales 700 Cheese sandwiches 1000…

A: The gross domestic product (GDP) refers to the value of final goods and services produced within the…

Q: Which of the following statements best describe how economists calculate GDP? a. Economists at the…

A: Which of the following statements best describe how economists calculate GDP? b. Economists at the…

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Q: Which of the following items are included in GDP? For those items not included, explain why they are…

A: The gross domestic product(GDP) refers to the market value of all final commodities(goods and…

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

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A: Investment refers to the allocation of resources or money in expectation of profit.Usually we invest…

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A: suppose,C= Consumption.I= Investment.G= Government spending.NX= Net export.N=None. We can enter the…