What is the GDP of this economy? Cost of materials Value of sales Value added 250 Farmer Ice-cream maker 250 375 Distributor 625 1000 Vendor 1000 1250 250

Q: When GDP increase ?

A: GDP (Gross Domestic Product): It refers to the total market value of all produced final goods and…

Q: Which of the following would not be counted in the calculation of GDP? Select all that apply. A.…

A: A commonly used economic indicator that estimates the total valuation of all final products produced…

Q: On which basis the GDP of the country is decided?

A: Gross domestic product (GDP): It is the value of all finished or final goods and services produced…

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: What is the effect that changes in business taxes, personal income, and transfer payments have on a…

A: GDP is the measure of the total value of services and goods produced within an economy during a…

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: Use the table to answer the questions. Round your answers to the nearest cent. Country Gross…

A: GDP per capita can be calculated as:

Q: Why do we need to compute both nominal and real GDP?

A: Nominal GDP refers to the total value of final goods and services produced in an economy during a…

Q: Why does gross domestic product measure the final value of goods and services produced in a country…

A: Final goods are those goods standard measure of the value-added created by the production of goods…

Q: Which is better for making comparisons over time, nominal GDP or real GDP, and why?

A: The measure that depicts the final values of production of services and goods within a certain time…

Q: What is gdp and how do I calculate it?

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

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: What is the impact of spending changes on GDP?

A: Aggregate demand is the total demand in a given period for a particular price level in the economy.…

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…