The reason for which businesses need early estimates of GDP. Concept Introduction: Gross Domestic Product (GDP): It refers to the gross money value or gross market value of all the finished goods and the services produced by the normal resident and nonresident people of the country that is within that particular countries border in an accounting year.

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Answer 1

Question

Chapter 7, Problem 1QFT

To determine

The reason for which businesses need early estimates of GDP.

Concept Introduction:

Gross Domestic Product (GDP):

It refers to the gross money value or gross market value of all the finished goods and the services produced by the normal resident and nonresident people of the country that is within that particular countries border in an accounting year.

Expert Solution & Answer

Explanation of Solution

GDP matters the business greatly as it tends to reflect the measure of the size of any economy and also the economic performance. As in the given case, many companies and other players so eagerly wait for the GDP that they consider the predicted GDP and do not even wait for the official estimates.

A business always wants to have the latest figures to conduct early estimates for analysis and comparison. This prediction helps them in predicting the demand for goods and services in the economy.

If the business does not have early estimates then they can lag behind because there is cut-throat competition and to survive in the competing world quick estimates and quick reaction is needed.

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Answer 2

Question

Chapter 7, Problem 1QFT

To determine

The reason for which businesses need early estimates of GDP.

Concept Introduction:

Gross Domestic Product (GDP):

It refers to the gross money value or gross market value of all the finished goods and the services produced by the normal resident and nonresident people of the country that is within that particular countries border in an accounting year.

Expert Solution & Answer

Explanation of Solution

GDP matters the business greatly as it tends to reflect the measure of the size of any economy and also the economic performance. As in the given case, many companies and other players so eagerly wait for the GDP that they consider the predicted GDP and do not even wait for the official estimates.

A business always wants to have the latest figures to conduct early estimates for analysis and comparison. This prediction helps them in predicting the demand for goods and services in the economy.

If the business does not have early estimates then they can lag behind because there is cut-throat competition and to survive in the competing world quick estimates and quick reaction is needed.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 7, Problem 1QFT

To determine

The reason for which businesses need early estimates of GDP.

Concept Introduction:

Gross Domestic Product (GDP):

It refers to the gross money value or gross market value of all the finished goods and the services produced by the normal resident and nonresident people of the country that is within that particular countries border in an accounting year.

Expert Solution & Answer

Explanation of Solution

GDP matters the business greatly as it tends to reflect the measure of the size of any economy and also the economic performance. As in the given case, many companies and other players so eagerly wait for the GDP that they consider the predicted GDP and do not even wait for the official estimates.

A business always wants to have the latest figures to conduct early estimates for analysis and comparison. This prediction helps them in predicting the demand for goods and services in the economy.

If the business does not have early estimates then they can lag behind because there is cut-throat competition and to survive in the competing world quick estimates and quick reaction is needed.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 7, Problem 1QFT

To determine

The reason for which businesses need early estimates of GDP.

Concept Introduction:

Gross Domestic Product (GDP):

It refers to the gross money value or gross market value of all the finished goods and the services produced by the normal resident and nonresident people of the country that is within that particular countries border in an accounting year.

Expert Solution & Answer

Explanation of Solution

GDP matters the business greatly as it tends to reflect the measure of the size of any economy and also the economic performance. As in the given case, many companies and other players so eagerly wait for the GDP that they consider the predicted GDP and do not even wait for the official estimates.

A business always wants to have the latest figures to conduct early estimates for analysis and comparison. This prediction helps them in predicting the demand for goods and services in the economy.

If the business does not have early estimates then they can lag behind because there is cut-throat competition and to survive in the competing world quick estimates and quick reaction is needed.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 7, Problem 1QFT

To determine

The reason for which businesses need early estimates of GDP.

Concept Introduction:

Gross Domestic Product (GDP):

It refers to the gross money value or gross market value of all the finished goods and the services produced by the normal resident and nonresident people of the country that is within that particular countries border in an accounting year.

Expert Solution & Answer

Explanation of Solution

GDP matters the business greatly as it tends to reflect the measure of the size of any economy and also the economic performance. As in the given case, many companies and other players so eagerly wait for the GDP that they consider the predicted GDP and do not even wait for the official estimates.

A business always wants to have the latest figures to conduct early estimates for analysis and comparison. This prediction helps them in predicting the demand for goods and services in the economy.

If the business does not have early estimates then they can lag behind because there is cut-throat competition and to survive in the competing world quick estimates and quick reaction is needed.

Answer 6

Chapter 7, Problem 1QFT

To determine

The reason for which businesses need early estimates of GDP.

Concept Introduction:

Gross Domestic Product (GDP):

It refers to the gross money value or gross market value of all the finished goods and the services produced by the normal resident and nonresident people of the country that is within that particular countries border in an accounting year.

Expert Solution & Answer

Explanation of Solution

GDP matters the business greatly as it tends to reflect the measure of the size of any economy and also the economic performance. As in the given case, many companies and other players so eagerly wait for the GDP that they consider the predicted GDP and do not even wait for the official estimates.

A business always wants to have the latest figures to conduct early estimates for analysis and comparison. This prediction helps them in predicting the demand for goods and services in the economy.

If the business does not have early estimates then they can lag behind because there is cut-throat competition and to survive in the competing world quick estimates and quick reaction is needed.

Answer 7

Chapter 7, Problem 1QFT

To determine

The reason for which businesses need early estimates of GDP.

Concept Introduction:

Gross Domestic Product (GDP):

It refers to the gross money value or gross market value of all the finished goods and the services produced by the normal resident and nonresident people of the country that is within that particular countries border in an accounting year.

Answer 8

Expert Solution & Answer

Explanation of Solution

GDP matters the business greatly as it tends to reflect the measure of the size of any economy and also the economic performance. As in the given case, many companies and other players so eagerly wait for the GDP that they consider the predicted GDP and do not even wait for the official estimates.

A business always wants to have the latest figures to conduct early estimates for analysis and comparison. This prediction helps them in predicting the demand for goods and services in the economy.

If the business does not have early estimates then they can lag behind because there is cut-throat competition and to survive in the competing world quick estimates and quick reaction is needed.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Ch. 7 - Prob. 1QFT Ch. 7 - Prob. 2QFT Ch. 7 - Prob. 3QFT Ch. 7 - Prob. 1P Ch. 7 - Prob. 2P Ch. 7 - Prob. 3P Ch. 7 - Prob. 4P Ch. 7 - Prob. 5P Ch. 7 - Prob. 6P Ch. 7 - Prob. 7P

Explanation of Solution

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