Economics Today and Tomorrow, Student Edition
1st Edition
ISBN: 9780078747663
Author: McGraw-Hill
Publisher: Glencoe/McGraw-Hill School Pub Co
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Question
Chapter 13.1, Problem 2R
To determine
To discuss: The four categories used by economists to find
Expert Solution & Answer
Explanation of Solution
The four categories that are used by economists to find the value of GDP with their examples are as listed below:
| Government goods and services |
| 1. National defense products
2. Public health services |
| Net exports |
| 1. Goods traded to foreign country.
2. Goods purchased from foreign countries. |
| Consumer goods and services |
| 1. Food products
2. Education services |
| Investment goods and services |
| 1. Machineries
2. Financial advisory services |
Economics Concept Introduction
Introduction:
Gross domestic product- The value of gross domestic product tells the amount of goods and services that are available within the borders of a country. The importance of GDP is that give information about the size of economy and the performance of economy.
Chapter 13 Solutions
Economics Today and Tomorrow, Student Edition
Ch. 13.1 - Prob. 1RCh. 13.1 - Prob. 2RCh. 13.1 - Prob. 3RCh. 13.1 - Prob. 4RCh. 13.1 - Prob. 5RCh. 13.2 - Prob. 1RCh. 13.2 - Prob. 2RCh. 13.2 - Prob. 3RCh. 13.2 - Prob. 4RCh. 13.3 - Prob. 1R
Ch. 13.3 - Prob. 2RCh. 13.3 - Prob. 3RCh. 13.3 - Prob. 4RCh. 13.4 - Prob. 1RCh. 13.4 - Prob. 2RCh. 13.4 - Prob. 3RCh. 13.4 - Prob. 4RCh. 13.5 - Prob. 1RCh. 13.5 - Prob. 2RCh. 13.5 - Prob. 3RCh. 13.5 - Prob. 4RCh. 13.5 - Prob. 5RCh. 13 - Prob. 1AACh. 13 - Prob. 2AACh. 13 - Prob. 3AACh. 13 - Prob. 4AACh. 13 - Prob. 5AACh. 13 - Prob. 6AACh. 13 - Prob. 7AACh. 13 - Prob. 8AACh. 13 - Prob. 9AACh. 13 - Prob. 10AACh. 13 - Prob. 11AACh. 13 - Prob. 12AACh. 13 - Prob. 13AACh. 13 - Prob. 14AACh. 13 - Prob. 15AACh. 13 - Prob. 16AACh. 13 - Prob. 17AACh. 13 - Prob. 18AACh. 13 - Prob. 19AACh. 13 - Prob. 20AACh. 13 - Prob. 21AACh. 13 - Prob. 22AACh. 13 - Prob. 23AA
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