Capital goods are goods that will be used in the future to produce more goods and services. Group of answer choices True False B. GDP includes the value of all new final goods produced by American companies, regardless of where the company is located. Group of answer choices True False C. Which of the following is an example of a durable good? Group of answer choices gasoline a television

Capital goods are goods that will be used in the future to produce more goods and services. Group of answer choices True False B. GDP includes the value of all new final goods produced by American companies, regardless of where the company is located. Group of answer choices True False C. Which of the following is an example of a durable good? Group of answer choices gasoline a television

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter15: Gross Domestic Product

Section: Chapter Questions

Problem 5SQ

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Which of the following will be counted as part of the U.S.'s GDP for a given year? Select one: 0 a. An antique (old) clock that is sold in a flea market O b. A Ford focus that is produced in Germany and sold in Belgium c. Paint purchased by a family in Lowe's to paint their house O d. Nails that are purchased by a local construction company to build a house e. A babysitting service by a teenager that is never reported to the IRS Suppose that in 2011 Nominal GDP was $14 trillion and the Real GDP was $12 trillion. If Nominal GDP increased by 20% between 2011 and 2012 and Real GDP remained the same, what was the GDP Deflator in 2012? Select one: a. 1.2 b. 1.4 c. 1.6 d. 1.8 e. 2.0 O O O
Calculate the PPP-adjusted GDP for each of the four countries, using the information found in the table below. Instructions: Round your answers to the nearest dollar. Country GDP ($) Price level (%) Ona 12,000 5 Rye 12,800 -26 Zolfo 14,000 -9 Avon 23,300 22 PPP-adjusted GDP
Calculate the PPP-adjusted GDP for each of the four countries using the information found in the table below. Instructions: Round your answers to the nearest dollar. Country GDP ($) Price level (%) PPP-adjusted GDP Ona 11000 8 Rye 12500 −24 Zolfo 13900 −12 Avon 23200 21
Question 34 Which of the following would be not be included in the GDP of the U.S.? There is more than one correct answer to this question. You must mark all of the correct answers to receive full credit for this question. Your neighbor sells a bicyde that he purchased two years ago. O LG Chem (a Korean firm) makes batteries in the u.S. and sells them to General Motors (a U.S. firm) in the U.S. o Tesla (a U.S. firm) makes a car in China and sells it there. Honda (a Japanese firm) produces cars in the U.S. and sells them here. O Pízer (a U.S. company) makes a vaccine in Germany and sells it in Sweden. Question 35 Assume there is a reduced time preference to spend now. What change would be expected in the market for loanable funds? The supply of loanable funds would increase. O The demand for loanable funds would decrease. o The demand for loanable funds would increase. o The supply of loanable funds would decrease.
For how many years has GDP been increasing? Group of answer choices xSince the summer of 2009, so more than 10 years. xIt increased for about 10 years from 2009 to 2019, fell dramatically in the first half of 2020, and is now increasing once again (although it is becoming less clear if this will continue). xGross Domestic Product xGDP did not increase under President Obama, but increased under President Trump and decreased under President Biden. xFor 25 years.
Which of the following will be counted as part of the U.S.'s GDP for a given year? Select one: a. An All-Terrain Vehicle produced by Honda in Timmonsville, South Carolina b. Cleaning service by an illegal immigrant that is not reported to the IRS c. A whopper burger produced by Burger King in Tel Aviv, Israel d. Tools purchased by a professional plumber at Home Depot e. An antique car that is sold at an auction
18. Products that generally last less than a year are... durable goods A. nondurable goods B. natural goods C. tertiary goods 19. Copper, lead, iron, and aluminum are useful when combined with other metals to form... A. heavy metals B. alloys C. precious metals D. lotions 20. All of the following are common metals except... A. copper B. iron C. aluminum D. silver 21. Cultivation or farming of seafood in a controlled, artificial environment is called... A. aquaculture B. agriculture C. sea farming D. forestry 22. A ban on importing or exporting selected products or trading with a particular country is called... A. an embargo B. an import C. an export D. a monopoly 23. What is the application of science to industry? A. scientology B. economics C. technology D. industrial revolution 24. What term describes countries characterized by their large population and low per capita GDP? A. underachieving country B. third world country C. developed country D. developing country 25. System where…
The table given below reports the value of different economic variables of a country during a year.Table 5.4 GNP Data(Adjusted for net factor income from abroad) Net Investment $400 Capital Consumption Allowance $800 Indirect Business Taxes $600 U.S. Exports $200 U.S. Imports $300 Government Purchases $150 Consumption Spending $2,030 Refer to Table 5.4. Compute the GNP of the country.
Van and Amy Cho live in Conshohocken, PA. Amy's father, Carlos, lives in Sweden. 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 Amy's father in Sweden orders a bottle of Vermont maple syrup from the producer's website. Amy gets a new refrigerator made in the United States. The Pennsylvania Department of Transportation, a state administration, fixes potholes along PA highway 23, which feeds into the center of Conshohocken. Van's employer upgrades all of its computer systems using U.S.-made parts. Van buys a sweater made in Guatemala. C I 0 G 0 0 X | M
The following table shows some data for an economy that produces only two goods: milk and honey. Milk Honey Price Quantity Price Quantity Year (Dollars) (Quarts) (Dollars) (Quarts) 2020 1 200 100 2021 400 200 2022 400 4 200 Using 2020 as the base year, compute nominal GDP, real GDP, and the GDP deflator for each year. Nominal GDP Real GDP Year (Dollars) (Dollars) GDP Deflator 2020 2021 2022
Need both answers Question 8 Suppose Barbara, a self-employed graphic artist, buys a new color copier that she uses to produce pamphlets for her clients. The ink cartridges Barbara uses in the printer Select one: A. would be included in GDP as an export. B. would be included in GDP as part of government spending. C. would be included in GDP as part of investment. D. would be included in GDP as part of consumption. E. would not be included in GDP because they are an intermediate good. Clear my choice Question 9 The following data are the seasonally adjusted percent changes from the preceding month for the United States. November 2018 December 2018 Total PPI -0.1 -0.1 Core PPI +0.2 0.0 In December 2018, food and energy prices in the United States _____ from their November 2018 levels. Select one: A. remained unchanged B. decreased C. increased