16. ● ● Write the name of the three missing categories of expenditure that contribute to a country's GDP. exports Draw a picture that accurately represents each category. Several pictures or categories are already filled in for you. consumption + + + GDP
Q: Eight statements regarding the redistribution of income expenditure programs are provided. Match the…
A: Public Assistance: This program is targeted at families with minor children, very low income, and…
Q: Suppose that airlines compete for customers on flights between Chicago and Los Angeles. The total…
A: In the Cournot model, firms choose their quantities to maximize profit, taking into account the…
Q: Effective income tax rate After-tax MARR EOY BTCF 50% 12% Taxable Income Depreciation Income Taxes…
A: A measure of a company's financial performance known as economic value added (EVA) is based on the…
Q: The income elasticity of demand for fresh winter vegetables has been estimated to be 0.6. If income…
A: Income elasticity is calculated as the percentage change in quantity divided by the percentage…
Q: 2 issues: 1. I need to understand equation Total Utility(x) = MU(x) + TU (x - 1). explain please.…
A: Total utility is the overall satisfaction of using the particular goods and services consumed.…
Q: What is the marginal product and average product of employing 3rd labor- (1) Total Labor Units…
A: The additional output or outcome gained by using one more unit of input while keeping all other…
Q: Compute the effective annual rate of interest (a) for 6% compounded monthly; (b) at which $1100 will…
A: When the benefits of compounding over time are factored in, the real return on a savings account or…
Q: P₁ Price P₂ P₁ P₁ P₁ P₁ P₁ P₂ S Q₂ Q₂ Q₁ Q₁ Q₂ Q₂ Quantity Assume that Q1-7029, Q2-5008, Q3=4976,…
A: The demand curve is the downward-sloping curve. The supply curve is the upward-sloping curve. The…
Q: A firm is choosing between machines that perform the same task in the same time. Assume the minimum…
A: For machine X, the first cost (P) = 5,000 and the estimated service life is 6 years. Salvage value…
Q: dentify and explain who will make and lose money from this tariff.
A: Any duty or fee that a government imposes on imported or exported goods is known as a tariff. A…
Q: The table below shows the monthly cost of producing vintage model cars for collectors. Instructions:…
A: Total cost is the sum of fixed cost and variable cost.=> TC = FC + VC Fixed cost is the cost that…
Q: Assuming the MPC = 0.75, determine the size of the simple spending multiplier, the size and…
A: The spending multiplier, often referred to as the fiscal multiplier, is a concept in economics that…
Q: PART A (INTRODUCTION TO THE KEY CONC 1) Monopolistically competitive firms could increase the…
A: Monopolistic Competition: A market structure in which firms produce differentiated products, have…
Q: Aggregate planned expenditure (trillions of 2009 dollars) 25 20 15 z 10 10 15 20 25 30 Real GDP…
A: The above graph establishes a relationship between aggregate expenditure and demand, which is…
Q: If Real GDP is less than Natural Real GDP, then the (actual) unemployment rate is O a. equal to the…
A: This can be defined as a concept that shows the total production of products and services in an…
Q: Last year, Jarod left a job that pays $80,000 to run his own bike repair shop. Jarod’s shop charges…
A: Accounting profit focuses on the explicit financial costs and does not account for all the costs…
Q: Brander-Spencer analysis states that A. competition can be enhanced by international trade. B.…
A: The core of the Brander and Spencer analysis states that subsidies work as a commitment device in…
Q: noose the correct statement. A. The SAS curve shifts rightward when the price level falls. OB. Along…
A: The short-run aggregate supply curve represents the total quantity of goods and services an economy…
Q: 9. Ch.16: Graph the Laffer Curve. Suppose a nation collects taxes as a percent of income. The point…
A: The Laffer curve represents a theoretical connection between tax rates and the amount of tax revenue…
Q: The figure below shows a consumer maximizing utility at two different prices (the left panel) d the…
A: Utility is the satisfaction that is derived from the consumption of goods or services. The utility…
Q: You are the manager of College Computers, a manufacturer of customized computers that meet the…
A: A producer's main objective is to maximise its profits, which is a fundamental concept in economics.…
Q: Consider the supply of a good illustrated in the graph below. Suppose the price of oil decreases.…
A: Supply curve represents quantity supplied corresponding to different price levels. Supply curve is…
Q: d) How much should the firm to produce to maximize marginal product of labor? [Hint: MP₁ curve is…
A: The production function shows the relationship with the input used and output produced. Average…
Q: Determine quantities for x1 and x2 maximizing consumer utility and determine Utility Consumer
A: Utility is the total satisfaction that the consumer derives from the consumption of the two goods.…
Q: For the production function Q = K0.3L0.3 and the budget 130 = 8K + 4L find the NEW LEVEL in the…
A: Production functionQ = K0.3 L0.3Budget Constraint130= 8K + 4LTherefore , Price of K = 8Price of L…
Q: Refer to the Figure. If the economy is at point N on the curve, then a decrease in the tax rate will…
A: Laffer curve refers to the curve that depicts the relationship between the tax revenue of the…
Q: Use the given information to find the Marginal Cost of producing each unit
A: Marginal cost is the additional cost that the firm has to incur in order to produce an additional…
Q: Macro Econ Assume an economy is in a recession and the government increases deficit spending. Draw…
A: The market where borrowers and lenders interact is known as market loanable funds. The demand for…
Q: following: O marginal cost pricing O the profit-maximizing rule O price discrimination 4 economies…
A: A single seller in the market for goods is called a monopoly market. Marginal revenue is the demand…
Q: Market demand for gizmos is P = 750 0.5Q. Suppose there are two firms in the gizmo industry, selling…
A: A Cournot duopoly is a model of competition between two firms that decide on the quantity to produce…
Q: Suppose an economy's full employment output is at the leve Y₁, and the economy's current aggregate…
A: Aggregate demand refers to the overall demand for the goods and services that are produced within…
Q: If an increase in the supply of good A increases the demand for good B, then A. A and B are…
A: Two goods are said to be complementary when they are used together. Two goods are said to be…
Q: Suppose the European Union (EU) was investigated and proposed a merger between two of the largest…
A: There are a few requirements that are to be met while dealing with any merging condition. It is…
Q: labor $15. What combination of labor and capital minimizes the cost of producing any given output?
A: The production function exhibits the total output that the firms would be able to produce given the…
Q: From the equity-deposit insurance game, describe the differences in incentives resulting from the…
A: This can be described as a form of market in which no single producer or consumer has the power to…
Q: what will the decrease in the price of digital camera do in the demand of memory cards do in the…
A: Complementary goods refer to products that are used together, so a change in the demand for one…
Q: uppose there are two countries that are identical with the following exception. The saving rate in…
A: This can be defined as a concept that shows the total production of products and services in an…
Q: The following data are for a series of increasingly extensive flood-control projects; Total Cost Per…
A: We have given four plans with their annual total cost and annual revenue. Cost-benefit analysis…
Q: The State of Chiapas, Mexico, decided to fund a program for improving reading skills in elementary…
A: This can be defined as a concept is a financial metric used to compare and evaluate different…
Q: An electric switch manufacturing company is trying to decide between three different assembly…
A: The cost structure of the three alternatives A, B, and C are presented in the table…
Q: 1. Draw the short-run and long-run Phillips curve given the following values. Expected inflation…
A: The Phillips curve is an economic framework that delves into the dynamics between inflation and…
Q: How to apply Peter Diamandis and Steven Kotler's six D's model to identify when an organization is…
A: Disruption: disruption occurs when a new technology or innovation radically changes existing…
Q: Bob in this scenario. increase production from 5 to 6 fire engines because the True False dominates…
A: Decrease in price leads to increase in quantity demanded. Decrease in price decreases revenue and…
Q: Price 22 20 18+ 16+ 14 12 10+ 8-1 6 4 2 0 10 20 30 40 50 60 70 80 90 100 Quantity Consider the…
A: Total Surplus refers to the addition of consumer and producer surplus.
Q: Which of the following is not a characteristic of a perfectly competitive market? O zero economic…
A: Perfect competition is a market structure where there are large no of buyers and sellers selling…
Q: Consider the market for Teslas. The price of gasoline decreases and the cost of producing Tesla…
A: The automotive market, like many sectors, is influenced by a myriad of external and internal…
Q: a. What is the equilibrium price? b. Suppose the current price is $7. (i) What kind of…
A: Demand :Demand is when a consumer has the desire to buy something at the price that he is ready to…
Q: 2. Given the following cost expenditures (see Table P6.3) for a small bridge job to include direct…
A: The difference between a commodity's cost and retail price is known as markup. It is primarily…
Q: QUESTION 2 An investment of $60,000 ten years ago resulted in uniform income of $10,000 per year for…
A: The rate of return on investment can be calculated by the following formula : In the question given…
Q: How has the proliferation of internet, online, and computer technologies impacted underdeveloped…
A: Digital divide refers to the gap or disparity in access to and use of digital technologies,…
Step by step
Solved in 3 steps
- What are the main components of measuring GDP with what is demanded?Table 1.1: Total expenditure in Thalland, by category, 2014 Category of Spending us dollars (billone) National Expenditure Household consumption 243 55.6 Capital goods 98 22.4 Govermment consumption 69 15.8 Exports 280 64.1 Imports 253 579 The latest figures show that Thailand's economy grew by 3.5% in the second quarter, putting it on track for 3-3.5% growth for the whole of 2016. Thailand has managed to boost its growth after several quarters of disappointing performance by increasing public sector investment in several large infrastructure projects, including roads, railways and airports. These projects will run over the next 3 to 5 years and are worth several hundred billion baht, Thailand's currency. It is hoped that this public sector investment will encourage the private sector to increase their investment spending. In addition to increased investment, the Thai economy's growth is being boosted by recovering private consumption due to increases in farm prices, which are crucial…COMPONENT R millions Consumption expenditure (C) 9 000 Investment (I) 6 500 Government spending (G) 7 000 Exports (X) 1 800 Imports (Z) 2 400 Depreciation 700 Foreign payment to the rest of theworld 300 Foreign payment from the rest of the world 250 Q1. Determine the value of the country’s NNI (Net National Income) atmarket price. Q2. If it is predicted that the GDP will increase to 22 000 in 2020,calculate the growth rate between 2019 and 2020.
- Consumption Depreciation Retained earnings Gross investment Imports Exports Net foreign factor income Government purchases a. How much is GDP? Instructions: Enter your responses as a whole number. $ b. How much is net investment? $ billion LA billion $400 24 16 40 50 60 c. How much is national income? billion 70GDP 1. Calculate the values for the blanks in the shaded areas of the table below: Expenditure Components of GDP by Country, 2020 (83Son of current US dollars) Australia Canada Denmark Finland Japan India 1617 137.9 873 65.9 C E FOOD 80.0 65.3 16 0.5 L M N 195.4 97.G 1725 96.7 Household consumption Government expenditure Investments Gross fixed Investments Changes in inventories Net Exports Exports Imports A: ÄÜÄ÷ B: C: D: E: F: G: H: I: J: 746.5 K: L: 297.2 A 316.9 4.3 3152 254.7 943.7 371.8 B 377.7 (147) K 476.0 509.8 M: N: 0: P: 1,591.7 Q: R: 292.1 722.0 97.0 4973 $11.3 કીડી || T: 2.700.7 Y: 1,066.4 1,279.5 106 785.4 786.2 New Zealand UK 122.0 43.7 G 47.3 (p.s) P 46A GDP S U W Y Source: GOP by Type of Expenditure at current prices-US dollars, Retrieved 7/27/2022. National Accounts Estimates of Main Aggregates United Nations feste Division 472 Z: ZZ: 1,683.7 2. Based on the information in the table and your calculations for Question #1: Do any countries have positive net exports?…Question 20 Calculate GDP for a country with investment of $2 trillion, government purchases of $3 trillion, capital depreciation of $1.5 trillion, consumption of $10 trillion, exports of $3.4 trillion, and imports of $3.9 trillion. Edit View Insert Format Tools Table 12pt ✓ Paragraph Search BIUA LO D' D T²V 7.3 pts 0
- Table 1 contains price and quantity information for two products produced by Apple,the iPhone and Apple Watch for 2016 and 2017. Let’s assume that they were producedin the United States.Table 1: Apple Products 2016 2017 Price Quantity Price QuantityiPhone $1,200 300 $1,250 400Apple Watch $500 800 $650 850 Calculate the amount contributed by Apple to nominal U.S. GDP from the salesof the two products in 2016 and 2017. Calculate the amount contributed by Apple to real U.S. GDP from the sales ofthe two products in 2016 and 2017. Determine the growth rate of nominal GDP (if Apple were the entire economy). Determine the growth rate of real GDP (if Apple were the entire economy). Use the shortcut you learned to convert between real and nominal growth ratesto determine the growth rate of prices. Is the increase in nominal GDP due to a change in…2. List the four components of GDP .1- The four expenditure categories of GDP consist on consumption, government purchases, investment, net-exports. Select one: a. True b. False 2- GDP doesn’t include value of almost all activity that is takes place outside markets. Select one: a. False b. True
- 1. Calculate GDP, NDP, NI, PI, and DI from the following information. All numbers are in billions of dollars. Wages $ 26,500Consumption Expenditures $30,000Government Expenditures $15,000Imports $18,000Exports $20,000Property Taxes $16,000Sales Taxes $9,715Retained earnings $1,310Personal Income Taxes $2,200Private Investment Expenditures $14,000Interest Income $1,940Pay Roll taxes $1,000Transfer Payments $800 Depreciation $1,200Net Income Made Abroad by Americans $160Indirect Business taxes $2,000Corporate Income Taxes $300 2. Calculate a) labor force, b) labor force participation rate, and c) unemployment rate if the population of a country is 240 million people out which 70 million are under the age of 16, 30 million don't want to work and 10 million are looking for work. 3. Calculate the inflation rate from 2019-2020 if the index number in 2019 was 115 and the index number in 2020 was 119.3. Categories of expenditures Tim and Alyssa Espinosa live in Swarthmore, PA. Their son, Brian, owns his own plumbing business. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction G M Brian buys a new set of tools to use in his plumbing business. Tim buys a sweater made in Guatemala. Alyssa gets a new video camera made in the United States. Tim's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. - O O O U O o Oable 1 contains price and quantity information for two products produced by Apple,the iPhone and Apple Watch for 2016 and 2017. Let’s assume that they were producedin the United States.Table 1: Apple Products 2016 2017 Price Quantity Price QuantityiPhone $1,200 300 $1,250 400Apple Watch $500 800 $650 850 Calculate the amount contributed by Apple to nominal U.S. GDP from the salesof the two products in 2016 and 2017. Calculate the amount contributed by Apple to real U.S. GDP from the sales ofthe two products in 2016 and 2017. Determine the growth rate of nominal GDP (if Apple were the entire economy). Determine the growth rate of real GDP (if Apple were the entire economy). Use the shortcut you learned to convert between real and nominal growth ratesto determine the growth rate of prices. Is the increase in nominal GDP due to a change in…
