Suppose that the economy has consumption $90, investment $50, government purchases $30, imports $20, and exports $50. The economy's GDP is

Q: For the country of Madagascar government spending was $15,000 in 2007. Consumption was $88,000,…

A: GDP under expenditure method is computed by adding up following items:1. Consumption expenditure of…

Q: Calculate GDP for a country with investment of $2 trillion, government purchases of $3 trillion,…

A: Gross Domestic Product (GDP) basically refers to a metric used to determine a nation's overall…

Q: n 4: A farmer sells sugar to a candy producer for $150. If the producer uses this sugar to make…

A: Value addition means the increase in the value of a goods and services at each stage of production…

Q: Which of the following are included in this year’s GDP? Explain your answer in each. The income of a…

A: GDP computes the monetary value of final goods and services—that is, those that are purchased by the…

Q: From the data below find the measure of GDP. Personal Consumption Expenditures 50 Depreciation 3…

A: GDP is the sum of the value of goods and services produced in a nation in a particular period of…

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: Which of the following would be in GDP expenditure-based in the national income accounts for Canada?…

A: GDP refers to the total monetary value of all final goods and services that a nation produced in a…

Q: Problem #28- Last year, a small nation with abundant forests cut down $200 worth of trees. $100…

A: The Gross Domestic Product (GDP) is the summation of the money value of all the final goods and…

Q: If national income (output) is $8.5 Trillion, Consumption is $6 Trillion, Exports are $1 Trillion,…

A: National Income or output is "the market value of all the goods and services produced within the…

Q: A criticism of gross domestic product (GDP) is that it can both underestimate and overestimate…

A: The gross domestic product refers to the total amount of all the final goods and services produced…

Q: The single largest expenditure component in GDP is      A) investment. B) consumption. C) exports.…

A: Gross domestic product (GDP) has four primary components to explain the total output generated…

Q: Country A has export sales of $20 billion, government purchases of $1,000 billion, business…

A: Gross Domestic Product or the GDP refers to the final value of all the finished goods and services…

Q: Calculate the GDP of the country described below: Consumption = $5 trillion Investments = $2…

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

Q: The following data about a hypothetical economy are in billions of dollars. Personal Consumption…

A: Gross Domestic Product (GDP) will be calculated as sum of consumption, gross domestic investment,…

Q: Calculate national domestic income when national consumption expenditure is $2200 million and…

A: The data presented in the question above is as follows:- National consumption expenditure = $2200…

Q: Suppose that a farmer grows wheat, which she sells to a miller for $10. The miller turns the wheat…

A: 1) Farmer sold wheat to miller for= $10 Miller sell flour to baker for= $55 Baker sells bread to…

Q: If consumption expenditure is $30 billion, investment spending is $15 billion, government spending…

A: Consumption = $30 billion Investment = $15 billion Government spending = $12 billion Exports = $4…

Q: iven the following information, calculate personal consumption expenditures. GDP $5,000 Gross…

A: It is given that the GDP is $5,000, gross private domestic investment is $1,500, government…

Q: In 1999 in the economy of Microtania, Consumption was $7, Investment was $5, Government spending was…

A: The gross domestic product is the total value of all the final goods and services produced in an…

Q: Last year, a small nation with abundant forests cut down $200 worth of trees. It then turned $100…

A: Final value of book shelves = $250 Value of unused lumber in inventory = $(150-100)= $50 Value of…

Q: Suppose a country makes only bread and fish. They make 10 bread for $5 per bread and 20 fish for $2…

A: Output is the amount, either utilized or employed for more manufacturing, of products or services…

Q: Technological advancements typically increase productivity and encourage economic growth. Suppose a…

A: GDP is the gross domestic product.  GDP is the market value of all the goods and services produced…

Q: Consumption is $5.5 trillion, investment is $1 trillion, government expenditures are $1.5 trillion,…

A: Gross Domestic product (GDP) refers to the value of final goods and services produced in an economy…

Q: Suppose a consumer buys a frozen cheese pizza at the grocery store for $10. The frozen pizza company…

A: GDP is the gross domestic product.  GDP is calculated using three methods.  The value added method…

Q: Through the first half of 2023, total new-vehicle sales in the U.S. were up more than 12%. This…

A: Gross Domestic Product(GDP):GDP is the total market value of all final goods and services produced…

Q: Which spending category of GDP does each of the following transactions count in? Please enter the…

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

Q: Consumers in a small economy spend $50,000 on goods and services annually. Also annually, investment…

A: GDP (gross domestic product) is a broad measure of a country's economic activity. It is the total…

Q: Please explain the relationships between income, consumption, savings, and GDP. Define each one.…

A: Income is the financial gain earned during a particular period of time.Consumption spending is the…

Q: The figure shows the flows of expenditure and income in an economy. In 2013, U was $2.0 trillion, V…

A: The circular flow of income and expenditure signifies the model of an economy in which the income…

Q: he table below includes data for a one-year period required to calculate GDP from the income side…

A: Gross domestic product (GDP) refers to the summation of all market value of goods and services which…

Q: If consumption is 10, investment 5, government purchases 6, exports 8, and imports 7, what is GDP

A: GDP is the gross domestic product.  GDP is the sum of consumption, investment, government spending…