GDP consists of four parts-consumer goods and services, government purchases of goods and services, investment goods,...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
GDP consists of four parts-consumer goods and services, government purchases of goods and services, investment goods, and exports and imports. C family (household) spending on consumer goods and services G = government purchases of goods and services I = = spending by firms and households on new capital such as factories, tools, inventory increases or decreases, and new houses NX = exports are added to GDP and imports are subtracted. Determine the GDP component (C, G, or I) for each box. Video Games 8,000 dollars Factory 24,000 dollars Cruise Missile 10,000 dollars Butter 1,000 dollars Family Minivan 50,000 dollars Manicures 2,000 dollars New Roads 10,000 dollars Books 5,000 dollars Bread 5,000 dollars Concerts 1,000 dollars Increase in toy inventory 1,000 dollars Visits to Doctor's Office 20,000 dollars C= Calculate GDP. |= Candy Bars 5,000 dollars G= (x-m) = GDP= Imports 5000 Apples 3,000 dollars Exports 3000 Formula-GDP (Y)-C+I+G+(X-M) Police Protection 5,000 dollars GDP consists of four parts-consumer goods and services, government purchases of goods and services, investment goods, and exports and imports. C family (household) spending on consumer goods and services G = government purchases of goods and services I = = spending by firms and households on new capital such as factories, tools, inventory increases or decreases, and new houses NX = exports are added to GDP and imports are subtracted. Determine the GDP component (C, G, or I) for each box. Video Games 8,000 dollars Factory 24,000 dollars Cruise Missile 10,000 dollars Butter 1,000 dollars Family Minivan 50,000 dollars Manicures 2,000 dollars New Roads 10,000 dollars Books 5,000 dollars Bread 5,000 dollars Concerts 1,000 dollars Increase in toy inventory 1,000 dollars Visits to Doctor's Office 20,000 dollars C= Calculate GDP. |= Candy Bars 5,000 dollars G= (x-m) = GDP= Imports 5000 Apples 3,000 dollars Exports 3000 Formula-GDP (Y)-C+I+G+(X-M) Police Protection 5,000 dollars
Expert Answer:
Answer rating: 100% (QA)
To calculate GDP Y we need to sum up the components ... View the full answer
Related Book For
Posted Date:
Students also viewed these economics questions
-
Summary statistics for 10 drivers' car insurance premiums quoted by a local agent and an online company are shown in the table to the right. The accompanying table have displays for each company's...
-
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
-
Consider the following table for Canadas GDP in 2016. a. Calculate 2016 consumer spending. b. Calculate 2016 private investment spending. c. Calculate 2016 net exports. d. Calculate 2016 government...
-
A 50 coaxial cable is connected to an 80 resistive load and a dc source with zero internal resistance. Calculate the voltage reflection coefficients at the source and at the load.
-
Predict the output sequences that would be produced by each of the following while loops: count = 10; while (count > 0) { document.getElementById('outputDiv').innerHTML =...
-
Ralph's Restaurant has the following information for year 2, when several new employees were added to the wait staff: Sales revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....
-
Reciprocals. Suppose that Australia is the home country. Determine whether the following quotes are direct or indirect, and convert indirect (direct) quotes to direct (indirect) quotes: a. Euro:...
-
Comas Corporation manufactures metal roofing in two departments: Pressing and Painting. Sheets of metal material are formed in the Pressing Department before being transferred to the Painting...
-
8. If y = x+1 x3-1 then dy \\OTE (E) A. B. (x31)2 D. (x3 - 1)(2x) - (3x)(x+1) (x3 - 1)3 dx ga-x-3x - 2x2x (x- 1)(2x) - (3x)(x+ x3-1 02 C. 3x2 T
-
The compound beam ABCDE shown in the figure consists of two beams (AD and DE) joined by a hinged connection at D. The hinge can transmit a shear force but not a bending moment. The loads on the beam...
-
2. A firefighter weighing 195 lb (867 N) holds a fire hose18 above horizontal while the water (h = 999 kg/m3 ) moves throughat 2.0 m3/min. The internal diameter of the hose is 72 mm, has atotal...
-
Which of the following methods do you think would work best for you when building your professional network? Choose no more than two, and provide a rationale for why you think that would be the best...
-
: On average, an electronic device lasts seven years. The length of the time that this device lasts is exponentially distributed. a . What is the variance of the time that tihs device lasts?...
-
On a part-time job, you are asked to bring a cylindrical iron rod of density 7800 kg/m3 , length 85.4 cm and diameter 2.00 cm from a storage room to a machinist. Calculate the weight of the rod, w ....
-
A cart of mass 200.0 g is attached to a horizontal spring of spring constant 75 N/m. The cart has four wheels; each wheel is a solid disk of radius 1.3 cm and mass 50.0 g. The cart is free to roll...
-
The Imbriglio sisters say networking activities are crucial to their professional development. How can networking be a key factor in overcoming challenges such as staff retention in the machining...
-
Using Python (PLEASE REFRAIN FROM MYQL IMPORT PLEASE) The first window (Sign up) which includes: ? the fields thatcapture the student information: ? First Name, Last Name ? Student ID number (10...
-
Where are the olfactory sensory neurons, and why is that site poorly suited for their job?
-
The Mobile Phone Company has served Mobile, Alabama, since the 1930s as a government-authorized natural monopoly. The following table describes a portion of the demand curve for long-distance service...
-
The following table shows Hillarys demand schedule for Cherry Blossom Makeup. Graph Hillarys demand curve. Price Quantity Demanded (dollars per ounce) (ounces per week) $15 ............. 5 oz. 12...
-
Buffalo Bill has a potato chip company, Buffalos chips. He is currently losing money on every bag of chips he sells. Mrs. Bill, who has just completed an economics class, tells Buffalo Bill he could...
-
Coyote Oil Company incurred intangible costs during 20XA related to the following: a. Assuming Coyote is an independent producer, how much IDC can it deduct for 20XA? b. How much IDC could Coyote...
-
During 20XA, Core Petroleum incurred G&G costs of $20,000 for Project Area 15. Two areas of interest were identified. Detailed seismic studies were conducted on the areas of interests at the...
-
How does amortization of lease equipment such as storage tanks and separators differ under the three methods? Include in your answer a discussion of the method used, including which reserves are...
Study smarter with the SolutionInn App