TRUE/FALSE In an open economy domestic income is always equal to the national income.

Q: In an open economy, if domestic spending exceeds output, we and net exports are import; negative…

A: The correct completion of the sentence would be:"We import the difference, and net exports are…

Q: In a closed economy which are having no foreign trade what will be the relationship between the GDP…

A: A closed economy is described as an economy in which there are no trading activities with the…

Q: Country A has a GDP of $300 billion and a population of 10 million, while country B has a GDP of $3…

A: Answer: Introduction: per capita GDP refers to the average income per person during a given year.…

Q: xplain THREE (3) difficulties in measuring national income?

A: National income measures the monetary value of goods and services produced in the economy.

Q: Public for countries. as a percent of GDP Total Annual Production, in the economy, within the…

A: GDP sands for gross domestic product which is the summation of the market value of all goods and…

Q: How will you identify the factors affecting long-term level and growth of national income?

A: National income refers to the value of the production of goods and services in an economy during a…

Q: An aggregated value is made up of many smaller values? True or False

A: The quantity of a good that customers are willing and able to buy at different rates over a given…

Q: Investments require savings. Which of these is not a component of investments in a country's…

A: Investments are defined as the production of those goods and services that are used to produce other…

Q: An emerging country has a real GDP of $1553.1 billion. After one year, real GDP has grown to $1677…

A: Real GDP is the money value of all final goods and services produced in an economy corrected for…

Q: In the economy of Russia in 2015, consumption was $3000, GDP was $6500, government purchases were…

A: To find Russia's exports in 2015, we can use the expenditure approach to calculate the Gross…

Q: National savings is

A: In a closed economy, total output(Y) is sum of consumption(C), government expenditure (G) and…

Q: Assume that GDP at market price is 650 million, factor income received from abroad is 180 million,…

A: GDP is an important macroeconomic measure of growth that is used to determine the total aggregate…

Q: An emerging country has a real GDP of $1446.7 billion. After one year, real GDP has grown to $1534…

A:

Q: GDP = A , NDP = Write the number only, one decimal place; e.g. 10.0 4 A/ , NI =

A: GDP=Consumption+Gross Private Domestic Investment+Government Spending+Net Exports (Exports -…

Q: If finances were competitively optimal, would the size and composition of the Continental European…

A: The field of international economics examines the dynamics of state interactions within the global…

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: Why is investment an important component in a country's output? what theory supports investment in…

A: To spur economic growth, a country must acquire or mobilise funds in order to invest in the…

Q: In an open economy, GDP is $7400 billion, consumption is $4550 billion, government expenditures are…

A: National Savings(S) = GDP - Goverment Expenditure - Consumption = 7400 - 1200 - 4550 = 1650 NCO (Net…

Q: If consumption is $8 billion, investments is $4 billion, government purchases are $2 billion,…

A: Government purchase denotes the certain expenditure on the economics services and the goods by body…

Q: how can you define the domestic economy? And what are the different aspects of the domestic economy?

A: Domestic economy is that system of economy in which activities, situations and events take place in…

Q: Show how a GH¢2,000 increase in government spending financed by a GH¢2,000 increase in taxes will…

A: Output = Consumption spending + Investment spending + Government spending + Exports - Imports.  Y =…

Q: Discuss two shortcomings of using Gross Domestic Product as the primary measure of a country's…

A: Gross domestic product is used as the primary measure of the economic performance of a country.

Q: hat is GNP? GNP is the market value of all the final goods and services _____. A. produced within a…

A: Macroeconomics refers to the branch of economics concerned with huge-scale or general economic…

Q: As an economist with the World Bank you have been asked to measure the Gross Domestic Product for…

A: Gross domestic product (GDP) measures the market value of final goods and services produced by an…

Q: Compare and contrast the three methods of measuring the national income statistics. With examples…

A: 1. The three methods used in the estimation of national income are: Product method Income Method…

Q: Determine if each transaction is included in the Gross Domestic Product (GDP) and mark each item as…

A: " Since you have posted a question with multiple sub-parts, we shall answer the first sub-parts . To…

Q: If the value of an economy's imports exceeds the value of that economy's exports, then net exports…

A: The domestically produced goods and services which are sold in the foreign market is known as the…

Q: Consider country A. Its GDP is 500, and its income payments to foreign countries is 10 and its…

A: GDP=500income payments to foreign countries=10receipts from foreign countries=8

Q: Saved Which of the following is not an adjustment made when comparing standards of living across…

A: When standard of living is compared across countries,each countrys GDP is not converted into U.S…

Q: 33. The expenditure approach to calculating GDP for an open economy entails adding consumption,…

A: The expenditure approach is a strategy for computing a country's total national output (GDP) by…

Q: GDI = A , GDP = gross private domestic investment personal income A/ A " personal disposable income=

A: Calculate the GDI, GDP, Gross private domestic investment, personnal income, and personnal…

Q: Effect of fiscal and monetary policy on net exports in Zimbabwe

A: Fiscal policy is the means through which the government uses spending, taxes, and borrowing to…

Q: Which of these is NOT part of GDP? Group of answer choices Consumer Spending Imports/Exports…

A: National debt Reduction is not a part of GDP.

Q: If we want to enhance our measure of national economic well being beyond what GDP figures tell us,…

A: Gross domestic report (GDP) refers to all the final value of goods and services produce in a nation…

Q: A country’s private consumption is 30, government spending is 7, investment is 5, net factor income…

A: We know that the rest of the world claims 100 of debt from the country. The country lends at 4% and…

Q: Explain how the removal of online purchase taxes on ICT devices may effect a country's national…

A: Firms functioning in the digital eco-system are subject to a variety of taxes. To begin with, all…

Q: er the following equations for a small open economy C = 2500 + 0.85Yd; T = 700 + 0.25Y; G = 8000;…

A: The equilibrium occurs where a aggregate demand and aggregate supply are equal. The income level is…

Q: The social well-being of a country Is best measured by per capita GDP. Always increases when real…

A: The social well-being of a country can not be fully captured or assessed solely with the aid of…