Q: what was the gdp and gnp of the united states in 2000
A: 10,252.3 billion U.S dollars was the GDP of united states in 2000.
Q: Compare and analyze the two types of ranking (GDP and Per Capita GDP).
A: GDP stands for Gross Domestic product.
Q: What are the other methods of calculating GDP
A: GDP: The cumulative monetary or retail cost of all finished products and services made and sold…
Q: If you were in charge of regulating the way GDP is calculated, would you include illegal activities…
A: The total monetary or market worth of all finished goods and services produced within a country's…
Q: What items are not included in the calculation of GDP in the economy of the country.
A: According to the given question Gross Domestic Product is used by the economist to measure the…
Q: The Income Approach calculates GDP with all of the following except: wages, interest, profits and…
A: The market value of all final goods and services produced in the economic territory of the country…
Q: Based on the following data, GDP would equal while Net National Product equals. in Billions…
A: The term "Gross Domestic Product" refers to the total monetary value of all final goods and services…
Q: For each of the following examples, state if you think it is included in the 2010 calculation for…
A: The gross domestic product refers to the value of all the final goods and services produced within…
Q: Discuss the limitations of gross domestic product (GDP) as a measurement tool please.
A: GDP is the total income of the domestically produced final goods and services which would result in…
Q: GDP is the market value of all final goods and services and intermediate goods produced within a…
A: Gross Domestic Product is the total value of all finished goods and services that are produced in…
Q: A US citizen who is working in Singapore remits $10,000 to his family in the US. The $10,000 is part…
A: Gross Domestic Product (GDP) is the value of goods and services produced within the domestic…
Q: does a household purchase of a home built in 1985 affect GDP?
A: The Gross Domestic product (GDP) measures the market value of all the final goods and services…
Q: Which of the following transactions count towards GDP? Buying a used car from your friend. Buying a…
A: GDP (Gross Domestic Product) refers to value of all goods and services produced within the country's…
Q: Which of the following is included in the measurement of GDP? (A) The beauty of art. (B) The love of…
A: Economies tend to get involved in various economic activities, such as the consumption of goods and…
Q: Define Gross Domestic Product (GDP) and elaborate its components.
A: Gross Domestic Product is used to gauge the growth status of an economy, it indicates how much…
Q: To avoid the same output more than once, the calculation of GDP includes...
A: An economy is a vast collection of interconnected production, trade, and consumption practices…
Q: Calculate real GDP for all years
A: Real GDP is the monetary value of all the final goods and services produced within the national…
Q: Discuss the effectiveness of Gross Domestic Product (GDP) as a measure a measure of the standard of…
A: Gross Domestic Product(GDP) is the cumulative market value of every final goods and services…
Q: Billions of Dollars Gross private domestic investment $2,200 Depreciation $1,887 Exports $2,820…
A: Answer: GDP calculation by expenditure approach: This approach measures the GDP as a sum of total…
Q: GDP te
A: ‘Nominal GDP’ is the ‘market value’ of the goods and services produced in an ‘economy’ and it is not…
Q: Using the expenditure approach, calculate GDP using the following data: Item Amount in dollars…
A: we have many method for calculating the national income but here we can use the expenditure method…
Q: 24. What is the GDP of country X? 25. What is the per capita GDP of Country X?
A: The term GDP means the aggregate total output produced by a country in the current year. This…
Q: In some country, the following holds Components of GDP Amount (Millions) Consumption 980 Investment…
A: The trade balance of a country is the difference between a country's export and country's imports.…
Q: A country reported nominal GDP of $200 billion in 2006 and $180 billion in 2005; it reported a GDP…
A: the GDP deflator measures the changes in the GDP that results from changes in the price level.…
Q: what is the nominal GDP for year 2019?
A: Gross domestic price is also known as nominal GDP
Q: included in the year’s GDP
A: Gross Domestic Product (GDP) is defined as the value of all the final commodities and services…
Q: What is 4Gross domestic product (GDP)?
A: Gross Domestic Product The key indicator of the value added created by the production of commodities…
Q: Computation of GDP by the expenditures method would include the purchase of A. fertilizer by a…
A: Expenditure method is the method which measures final expenditure on gross domestic product at…
Q: Intermediate goods are excluded from the GDP calculation to avoid double counting. Select one: a.…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: GDP can be calculated by all of the following methods except...
A: GDP is the measure of all the final goods that are produced in a country. It includes the quantities…
Q: GDP deflator
A: The value of all the goods and services are accounted within a year depicts the GDP (Gross Domestic…
Q: Calculate GDP, what is included...what is not? Criteria USD in Billions Personal Consumption…
A: Y = C+I+G+NX Y= GDP = Gross domestic product = National income C= Consumption expenditure I=…
Q: What are the main components of measuring GDP with what is produced?
A: The standard measure of value-added produced during a certain time by manufacturing goods and…
Q: What are the benefits should we get by calculating GDP?
A: The Gross Domestic Product (GDP) measures the market value of all the final goods and services…
Q: If net exports are $30 million and imports are $113 million Find the value of exports
A: According to the above-mentioned question, the values given are:- Net exports = $30 million Imports…
Q: Calculate the value of exports if net exports are $390 million and the imports are $200 million
A: The emergence of the global economy was dependent on international trade. Global events both…
Q: Malaysia's GDP include
A: The production process is the conversion of raw material into finished goods. It means the raw…
Q: Which of the following is NOT included in Canadian GDP calculations? air pollution that contaminates…
A: GDP (gross domestic product) of a country is the market value of all final commodities and services…
Q: The largest component of GDP is government purchases of goods and services. net exports of goods and…
A: GDP stands for gross domestic product which is calculated by summing up all the final values of…
Q: Purchase of electricity by a family-owned business is included in GDP?
A: Gross Domestic Product is the aggregate of the values of all goods and services produced within a…
Q: Q)The sum of expenditure by consumers is $32B, investment by businesses is $40B, and government…
A: GDP is the value of the final goods and services produced within the economy in a particular year.…
Q: How do economists use GDP Per Capita data? standard of living total dollar value of all final…
A: GDP per capita is the final value of goods and services per capita.
Q: 6. State each of the three ways of measuring GDP.
A: Gross domestic product (GDP) is the monetary value of all final goods and services produced within a…
Q: Why must you avoid double counting when measuring GDP?
A: Double counting in accounting refers to the error in which a transaction is counted more than a…
Q: The expenditures on tires by the Ford Motor Company are not included directly in GDP statistics…
A: GDP can be understood as the monetary value of all the final goods and services produced in an…
Q: In what ways are national income statistics useful?
A: The national income accounting refers to a bookkeeping system used by the government of a country to…
What are the three (3) measures of
How are they calculated?
(100-300 words)
Step by step
Solved in 2 steps
- The table provides some data for an economy in 2017 and 2018. Calculate labor productivity in 2017 and 2018. What is the growth rate of labor productivity in 2018? >>> Answer to 2 decimal places.Analyze the two approaches used to measure Gross Domestic Product (GDP) Give examples1Discuss the effectiveness of Gross Domestic Product (GDP) as a measure a measure of the standard of living. Highlight the different methods used to measure GDP.
- Calculate the GDP using Income OR Expenditure Approach (all figures are in billions of dollars) ITEM Amount ($) Government purchase of goods and services 1,721.6 Exports 1,096.3 Receipts of factor income from the restof the world 382.7 Depreciation (consumption of fixed capital) 990.8 Net fixed Investments 688.2 Corporate income taxes 265.2 Consumption expenditures 6,739.4 Indirect business taxes 664.6 Imports 1,475.8 Payments of factor income to the rest of the world 343.7 Inventory change 56.5 Social security contributions 702.7 Undistributed corporate profits (retained earings) 130.3 Government transfer and interest payments 1,366.3 Personal interest payments 286.2 Personal Taxes 1,235.7 Type answer pleaseTo estimate GDP using an expidenture approach, what are the expidenture components that would be needed to perform the estimation ? Of these, which is the largest?Dollars (trillions) 25 20 15- 10- 0 -5 11 Expenditure components of nominal GDP 1950 GDP (Y) Consumption (C) Investment (1) Government spending (G) Exports (X) Imports (M) 1960 Figure Data Notes 1970 198 1990 2000 2010 The following will refer to the data table in the chart above, to access the data table for this graph you will need to click on the data button at the bottom of the chart. In Q2 of 2008 which of the following were above 9 trillion dollars (annualized)? Select the two correct answers.
- GDP minus depreciation is the formula used to calculate a- Net national product b- Gross natioal Product c- Gross Domestic Product d- Natioal incomemment exE published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the table to calculate GDP using the expenditure approach. Data (Billions of dollars) Consumption (C) 13,321.4 Investment (I) 3,368.0 Exports (X) 2,350.2 2,928.6 Imports (M) Net Exports of Goods and Services 3,374.4 Government Purchases (G) Gross Domestic Product (GDP)Calculate GDP using the Income or Expenditure Approach. (all figures are in billions of dollars): Item Amount ($) Government purchase of goods and services 1,721.6 Exports 1,096.3 Receipts of factor income from the rest of the world 382.7 Depreciation (consumption of fixed capital) 990.8 Net fixed Investments 688.2 Corporate income taxes 265.2 Consumption expenditures 6,739.4 Indirect business taxes 664.6 Imports 1,475.8 Payments of factor income to the rest of the world 343.7 Inventory change 56.5 Social security contributions 702.7 Undistributed corporate profits (retained earnings) 130.3 Government transfer and interest payments 1,366.3 Personal interest payments 286.2 Personal taxes 1,235.7 (b) Using the following data calculate: (i) The number of persons employed. (ii) The number of persons unemployed. (iii) The labour force. (iv) The Labour Force Participation rate. (v) The “official” unemployment rate.
- Calculate the domestic sales by firm A if value added by firm is $16,000 , exports by firm is $9000 and purchase by firm is $3000Study Problem 4-4 (algo) The data for three countries (all with the same base year, with figures converted to Canadian dollars) are shown in the table below. Calculate the real GDPS per capita for each country and rank them in size by filling out the table on the right. Give your answers to the nearest dollar Altria Bergan Casper Population (in Millions) 50 130 275 Nominal GDP ($ Billions) 750 3,000 3,600 Price Index 2009 = 100 110 120 155 Rank 1. 2. Country (Click to select) (Click to select) (Click to select) Real GDP per capita $ $ $year real GDP Nominal GDP GDP deflator Price ($) per nutmeg Price ($) per drapes 2013 2700 70 10 8 2014 3600 100 12 9 2015 3600 4680 14 10 A) Calculate the missing information in the table
