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Please explain only 3,7,8,9,10,11 1. The following table lists the stages in the production of 7. What is the GDP for this economy? 8. What

Please explain only 3,7,8,9,10,11

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1. The following table lists the stages in the production of 7. What is the GDP for this economy? 8. What is the GNP for this economy? a personal computer. What is the value of the computer in GDP? 9. What is the NNP for this economy? 10. What is the national income for this economy? Stage Value Added 1 1. What is the gross investment in this economy? Components manufacture $ 100 12. Indirect business taxes and capital consumption Assembly $ 250 allowance are not income, yet they are included in Wholesaler $ 500 the calculation of GDP as income received. Why do Retailer $ 1,850 we add these two nonincome components to the other components of income (like wages, rent, 2. What is the difference between GDP and each of the interest, profits, and net factor income from abroad) following? a. Gross national product to find GDP? b. Net national product 13. Why has nominal GDP increased faster than real GDP c. National income in the United States over time? What would it mean d. Personal income if an economy had real GDP increasing faster than e. Disposable personal income nominal GDP? 14. We usually discuss GDP in terms of what is 3. Year I Year 2 included in the definition. What is not included Quantity Price Quantity Price in GDP? Why are these things excluded? 15. If a Oranges surfboard is produced this year but not sold until 100 $5 150 $5 Pears 100 next year, how is it counted in this year's GDP and $3 75 $4 not next year's? a. What is the growth rate of constant-dollar real GDP using year I as the base year? b. What is the growth rate of constant-dollar real GDP using year 2 as the base year

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