Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 23, 2024

In an open economy, trade is allowed between countries. Assume a consumer purchases $1,000 worth of furniture manufactured in China. Answer the following: a.Which component(s)

In an open economy, trade is allowed between countries. Assume a consumer purchases $1,000 worth of furniture manufactured in China. Answer the following:

a.Which component(s) of GDP are impacted by this purchase?

b.Does GDP increase, decrease or stay the same? Briefly explain.

c.Does your answer change if the company in China is a U.S. owned company?Why?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial ACCT2

Authors: Norman H. Godwin, C. Wayne Alderman

2nd edition

9781285632544, 1111530769, 1285632540, 978-1111530761

Students also viewed these Economics questions

Question

★★★★★

The following is an excerpt from a conversation between two sales clerks, Fred Loya and Steph Gillespie. Both Fred and Steph are employed by Wireless Electronics, a locally owned and operated...

Answered: 1 week ago

Question

★★★★★

We are interviewing quite a few people, why should we hire you?

Answered: 1 week ago

Question

★★★★★

A bank sampled its customers to determine the proportion of customers who use their debit card at least once each month. A sample of 50 customers found that only 12 use their debit card monthly. Find...

Answered: 1 week ago

Question

★★★★★

Your firm is buying SmallCo. After purchasing SmallCo, you will be able to invest in a project with an upfront cost of $37 million, which pays out $6 million after taxes per year for 7 years. Both...

Answered: 1 week ago

Question

★★★★★

At the SEC website, obtain Managements Report on Internal Control provided by Ford Motor Company for the year-end December 31, 2016. (See p. 100 of Form 10-K, via EDGAR at www.sec.gov.) (Links to an...

Answered: 1 week ago

Question

★★★★★

A combustion unit is burning refused derived fuel (RDF) consisting of 88% organics, 7% water, and 5% inorganics (inerts) at a rate of 1000 kg h. Assume the heat value of the fuel to be 17,000 kJ/kg...

Answered: 1 week ago

Question

★★★★★

A 4-m long, 150-kg steel beam is attached to a wall with one end connected to a hinge that allows the beam to rotate up and down. The other end of the beam is held in a horizontal position with a...

Answered: 1 week ago

Question

★★★★★

DM & DL variances; journal entries Madzinga's Draperies manufactures curtains. Curtain #4571 requires the following: Direct material standard 10 square yards at $5 per yard Direct labor standard 5...

Answered: 1 week ago

Question

★★★★★

4. (a) A steel beam is 12 m long when installed at 32 C. Determine how much does its length change when it changes temperature from -23 C to 55 C. For steel = 1.1 105 C. [PHYS0030 MID-TERM...

Answered: 1 week ago

Question

★★★★★

5.2 Assuming the workstation currently has one hard drive installed, what additional hardware would be necessary to implement each of the two methods? 5.3 What additional fault tolerance method would...

Answered: 1 week ago

Question

★★★★★

why are interest charges not deducted when a projects cash flow are calculated for use in a capital budgeting analysis

Answered: 1 week ago

Previous Question Next Question