The table shows data from the United Kingdom in 2005 a Calculate GDP in the United Kingdom b Explain the approach (expenditure or income) that you used to calculate GDP Item Billions of pounds Wages paid to labor 685 Consumption 791 expenditure Taxes 394 Transfer payments 267 Profits 273 Investment...

a GDP in the United Kingdom was 1223 billi ...

The table shows data from the United Kingdom in 2005. a. Calculate GDP in the United Kingdom.

Question:

The table shows data from the United Kingdom in 2005.

image text in transcribed

a. Calculate GDP in the United Kingdom.

b. Explain the approach (expenditure or income) that you used to calculate GDP.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Macroeconomics

ISBN: 9780137470822

14th Edition

Authors: Michael Parkin

See More Books

Question Posted: Apr 05, 2024 11:00 PM

See More Questions

The table shows data from the United Kingdom in 2005. Items Billions of pounds Wages paid to labour .685 Consumption expenditure .791 Taxes .394 Transfer payments 267 Profits 273 Investment .209...
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
The accompanying table shows data from the World Bank, World Development Indicators, for real GDP per capita (2010 U.S. dollars) in France, Japan, the United Kingdom, and Canada in 1960 and 2015....
A bank reconciliation takes time and must balance. An employee was struggling in balancing the bank reconciliation. Her supervisor told her to plug (make an unsupported entry for) the difference,...
Describe a time when you were very successful at achieving a specific communication goal, such as persuading someone to do something. Identify at least one reason for your success. Your post must be...
What methods did Billy Beane use to determine talent in baseball players and exploit inefficiencies in the baseball labor market?
What is an ethical dilemma? Give an example. AppendixLO1
Suppose the federal government requires beer drinkers to pay a $2 tax on each case of beer purchased. (In fact, both the federal and state governments impose beer taxes of some sort.) a. Draw a...
On February 1 , 2 0 2 4 , Arrow Construction Company entered into a three - year construction contract to build a bridge for a price of $ 8 , 5 4 0 , 0 0 0 . During 2 0 2 4 , costs of $ 2 , 1 8 0 , 0...
Using the Public MACRO BITCOIN scorecard spreadsheet (linked in its associated masterclass lesson - Long Term 32), create a COPY of it and perform a complete analysis for the date 22/2/2022....
Desert Kingdom produces only dates and rides to sight see. The base year is 2021, and the tables give the quantities produced and the prices in 2021 and 2022. Calculate Desert Kingdoms a. Nominal GDP...
Figure 4.1 shows the flows of expenditure and income for a small nation. During 2021, flow A was $15 million, flow B was $40 million, flow C was $90 million, and flow D was $45 million. Calculate a....
Assume that the following enumerated data type has been declared: Enum Letters { Z, Y, X } What will the following code display? If (Letters.Z.compareTo(Letters.X) > 0) System.out.println("Z is...
What sutra is used to verify BODMAS principle in Vedic Mathematics?Explain in brief.
What Is Accounting? Definition, Types, History, & Examples
How Does Accounting Work?
What Are the Types of Accounting Practices?
The Accounting ProfessionWhat Does an Accountant Do?
Nevada in 2013 became the first state to legalize and offer online gambling. Nevada limits its online gaming to poker, but other states, including New Jersey, are expected to follow with a full array...
Separate variables and use partial fractions to solve the initial value problems in Problems 18. Use either the exact solution or a computer-generated slope field to sketch the graphs of several...
3. The nominal interest rate compounded monthly when your $7,000 becomes $11,700 in eight years is ________
An investor can design a risky portfolio based on two stocks, A and B. Stock A has an expected return of 21% and a standard deviation of return of 39%. Stock B has an expected return of 14% and a...
Advanced Small Business Certifica Drag and Drop the highlighted items into the correct boxes depending on whether they increase or decrease Alex's stock basis. Note your answers- you'll need them for...

The table shows data from the United Kingdom in 2005. a. Calculate GDP in the United Kingdom.

Question:

Item Billions of pounds Wages paid to labor 685 Consumption 791 expenditure Taxes 394 Transfer payments 267 Profits 273 Investment 209 Government 267 expenditure Exports 322 Saving 38 Imports 366

Step by Step Answer:

a GDP in the United Kingdom was 1223 billi...View the full answer

Macroeconomics

Students also viewed these Business questions