PowerPoint File Edit View Insert Format Arrange Tools Slide Show Window Help Q 8 @ Thu Feb 23 10:18 PM AutoSave OFF n A ? . C ... Corey #5 - Saved to my Mac Q Home Insert Draw Design Transitions Animations Slide Show Review View Recording Tell me Share Comments Layout v Century Gothic (Headin... v 32 AA AD Shapes v Rese Paste New Convert to Sensitivity Designer Slide Section v B I U ab x x2 AV ~ Aav DV Av Picture [A] Text Box Arrange Quick SmartArt Styles you have been asked to review a list or included in the U.S. GDP for 2022? Tell how using the expenditure approach. Explain why hey should or should not be included. 2 Property taxes paid in 2022 to the city of Anchorage, Alaska 2. A public mentary school built in Colorado 3. Seven hours of babysitting produced by a fourteen-year old in Virginia in 2022. ambabysitting by a Jamaican manny for a family living in Five work in 2922 (filed on a W-2 form). S. Sixteen ecstasy tablets produced and sold in New Mexico in 2022. You have been asked to review a list of A bottle of wine produced in California in 2022 and sold to someone in France A share of Disney stock sold in 2022 by a person living in Florida to a person Five hundred peach trees planted in a farm orchard in South Carolina in 2022. possible items that should or should not be . A performance by an Italian opera company in New York in 2022. 10. A German tax return prepared in New York in 2022 for a German firm. included in the U.S. GDP for 2022? Tell how 3 they will be handled when computing GDP 4 Wil be categorized as a government purchase. be included since no record is made of the transaction. led. Will be categorized as consu sumption (as spending for a service). using the expenditure approach. Explain why 5. Will not be included since no record is made of the transaction. good was not sold during 20ogy invest sent (as inventory investment since the they should or should not be included. 7. Should not be included since it is a financial transaction. will be categorized as investment (as fixed investment). . Included (since the option (as spending on a service) O. Included. Will be categorized as an export (as spending on a service). 4 2 The following figure shows a business cycle. identity each of the poliowning a phase of the and B (c) Point B (d) Between points B and C (e) Between points A and B: contraction 3. Point B: trough S: Point D: peak 5 3 he prices of goods X, Y, and Z are the prices of good X, Y, and Z are $3, $4, and $7- respectively. in year ?. twice as many units Click to add notes year 1, 20 units of X, 40 units of Y, and 60 Slide English (United States) Ex Accessibility: Investigate Notes Comments + 107% FEB 1 23 W OAutoSave O OFF ~ A . C ... Corey #5 - Saved to my Mac Home Insert Draw Design Transitions Animations Slide Show Review View Recording ? Tell me Share Comments Layout v Century Gothic (Headin... v 32 AAA Shapes Rese Paste New Slide Section v BI U ab x x2 AY ~ Aav | DAY Convert to Picture A] Text Box Arrange Quick Sensitivity Designer SmartArt Styles posthave been asked to review a list of included in the U.S. GDP for 2022? Tell how using the expenditure approach. Explain why would not be include 1. Property taxes paid in 2022 to the city of Anchorage, Alaska. 2. A public elementary school built in Colorado in 2022. 2 . Property taxes paid in 2022 to the city of Anchorage, Alaska. elementary school built in Colorado in 2022. 3. Seven hours of babysitting produced by a fourteen-year old in Virginia in 2022. 3. Seven hours of babysitting produced by a fourteen-year-old in Virginia in 2022. New York in 2022 (filed on a W.2 for bunny for a family 5. Sixteen ecstasy tablets produced and sold in New Mexico in 2022. 6. A bottle of wine produced in California in 2022 and sold to someone 7. A share of Disney stock sold in 2022 by a person live 4. Five hundred hours of babysitting by a Jamaican nanny for a family living in 8. Five hundred peach trees planted in a form orchard in South Carolina in 2022. 9. A performance by an Italian opera company in New York in 2022. New York in 2022 (filed on a W-2 form). 10. A German tax return prepared in New York in 2022 for a German firm. 3 5. Sixteen ecstasy tablets produced and sold in New Mexico in 2022. a Wil be categorized as a government purchase. 3. Will not l not be included since no record is made of the transaction. 4. Included. Will be categorized as consu tion (as spending for a service). S. Will not be included since no record is made of the transaction. wood was not said during zed as investment ( 6. A bottle of wine produced in California in 2022 and sold to someone in France 7. Should not be included since it is a financial transaction. 8. Included. Will be categorized as investment (as fixed investment in 2023. Included (since the production took place within the country's borders). Will be ategorized as an export (as spending on a service). 7. A share of Disney stock sold in 2022 by a person living in Florida to a person 4 2 The following figure shows a business cycle. living in Georgia. and B (c) Point B (d) Between points B and C (e) 8. Five hundred peach trees planted in a farm orchard in South Carolina in 2022. Between points A and B: contraction 3. Point B: trough een points B and C: recovery 9. A performance by an Italian opera company in New York in 2022. 5 3 $2year , the prices of goods X, Y, and Z are the prices of good X, Y, and Z are $3, $4, and 10. A German tax return prepared in New York in 2022 for a German firm. ofrespectively. in year 2. janice as many uin year, what does Real GDP equal in year 27 verserveas calculated using Real GDP in year 1 = $2 x 20 + $4 x 40 + $6 x 60 = $560 Real GDP in year 2 = $2 x 40 + $4 x 80 + $6 x 120 = $1,120 Click to add notes Slide 2 of 8 English (United States) Accessibility: Investigate Notes Comments + 120% EXAutoSave O OFF ~ A . C ... Corey #5 - Saved to my Mac Home Insert Draw Design Transitions Animations Slide Show Review View Recording ? Tell me Share Comments Layout v Century Gothic (Headin... v 32 AA AD Shapes v Rese Paste New Section v B I U ab x x2 AV ~ Aav | DAY Convert to Picture A] Text Box Arrange Quick Sensitivity Designer Slide SmartArt Styles posthave been asked to review a list of included in the U.S. GDP for 2022? Tell how using the expenditure approach . Explain why would not be include 1. Will not be included since no production took place. 2. Included. Will be categorized as a government purchase. 2 . Property taxes paid in 2022 to the city of Anchorage, Alaska. 2. A public elementary school built in Colorado in 2022. 3. Seven hours of babysitting produced by a fourteen-year old in Virginia in 2022. 3. Will not be included since no record is made of the transaction. 4. Five work in 2022 (filed on a W.2 tommy for a family living in . Sixteen ecstasy tablets produced and sold in New Mexico in 2022. . A bottle of wine produced in California in 2022 and sold to someone 7. A share of Disney stock sold in 2022 by a person livi 4. Included. Will be categorized as consumption (as spending for a service). . Five hundred peach trees planted in a farm orchard in South Carolian in 2022. A performance by an Italian opera company in New York in 2022. o. A German tax return prepared in New York in 2022 for a German firm. 5. Will not be included since no record is made of the transaction. 3 1. Wil not be included since no production took place. 2. Included. Will be categorized as a government purchase. Il not be included since no record is made of the transaction. 4. Included. Will be categorized as consumption sumption (as spending for a service). 6. Included. Will be categorized as investment (as inventory investment since the 5. Will not be included since no record is made of the transaction. somesaurforized is investment (as inventory Investment good was not sold during 2009). 7. Should not be included since it is a financial transaction. 8. Included. Will be categorized as investment (as fixed investment 9. Included (since the production took place within the country's borders). Will be a Included. Will be categorized as an export (as spending on a service). 7. Should not be included since it is a financial transaction. 4 2 The following figure shows a business cycle. 8. Included. Will be categorized as investment (as fixed investment). and B (c) Point B (d) Between points B and C (e) 9. Included (since the production took place within the country's borders). Will be Between points A and B: contraction categorized as consumption (as spending on a service). 3. Point B: trough een points B and C: recovery 10. Included. Will be categorized as an export (as spending on a service). 5 3 $2year , the prices of goods X, Y, and Z are the prices of good X, Y, and Z are $3, $4, and ofrespectively. in year 2. device as many uin year, what does Real GDP equal in year 27 verserveas calculated using Real GDP in year 1 = $2 x 20 + $4 x 40 + $6 x 60 = $560 Real GDP in year 2 = $2 x 40 + $4 x 80 + $6 x 120 = $1,120 Click to add notes Slide 3 of 8 English (United States) Accessibility: Investigate Notes Comments + 120% EXAutoSave O OFF ~ A . C ... Corey #5 - Saved to my Mac Home Insert Draw Design Transitions Animations Slide Show Review View Recording ? Tell me Share Comments Layout v Century Gothic (Headin... v 32 AAA Shapes Rese Paste New Slide Section v BI U ab x x2 AV Aav | DAY Convert to Picture [A] Text Box Arrange Quick Sensitivity Designer SmartArt Styles posthave been asked to review a list of included in the U.S. GDP for 2022? Tell how using the expenditure approach . Explain why would not be include The following figure shows a business cycle. 2 Identify each of the following as a phase of the business cycle: (a) Point A (b) Between points A 2 . Property taxes paid in 2022 to the city of Anchorage, Alaska. 2. A public elementary school built in Colorado in 2022. 3. Seven hours of babysitting produced by a fourteen-year old in Virginia in 2022. and B (c) Point B (d) Between points B and C (e) New York in 2022 (filed on . W.2 ,youmalean manny for a family living in . Sixteen ecstasy tablets produced and sold in New Mexico in 2022. Point D . A bottle of wine produced in California in 2022 and sold to someone A share of Disney stock sold in 2022 by a person livi Five hundred peach trees planted in a furm orchard in South Carolina in 2022, A performance by an Italian opera company in New York in 2022. D 10. A German tax return prepared in New York in 2022 for a German firm. 3 4 Will be categorized as a government purchase. Il not be included since no record is made of the transaction. 4. Included. Will be categorized as consu tion (as spending for a service). 5. Will not be included since no record is made of the transaction. Real GDP toof was not said during god's investment ( 7. Should not be included since it is a financial transaction. 8. Included. Will be categorized as investment (as fixed investment Included Goince the production took place within the co Place within the country's borders). Will be e categorized as an export (as spending on a service). B 4 2 The following figure shows a business cycle. identity each orre packaged phase of the Time and B (c) Point B (d) Between points B and C (e) 1. Point A: peak 2. Between points A and B: contraction Point A: peak A tween points A and B: contraction 3. Point B: trough 3. Point B: trough S. Point D: peak 4. Between points B and C: recovery 5 3 year , the prices of goods X, Y, and Z are 5. Point D: peak the prices of good X, Y, and Z are $3, $4, and ofrespectively. in year 2. twice as many uin year, what does Real GDP equal in year 27 verserveas calculated using Real GDP in year 1 = $2 x 20 + $4 x 40 + $6 x 60 = $560 Real GDP in year 2 = $2 x 40 + $4 x 80 + $6 x 120 = $1,120 Click to add notes Slide 4 of 8 English (United States) Accessibility: Investigate Notes Comments + 120% EXAutoSave O OFF ~ H . C ... Corey #5 - Saved to my Mac Home Insert Draw Design Transitions Animations Slide Show Review View Recording ? Tell me Share Comments Layout v Century Gothic (Headin... v 32 AAA Rese Shapes Paste New Slide Section v B I U ab x x2 AV Aav | DV Av Convert to Picture A] Text Box Arrange Quick Sensitivity Designer SmartArt Styles 3 spending for a service). 5. Will not be included since no record is made of the transaction. good was not sold during 2009), 7. Should not be included since it is a financial transaction. S. Included. Will be categorized as investment (as fixed investment In year 1, the prices of goods X, Y, and Z are Place within the country's borders). Will be categorized as consumption (as spending on a service) Q. Included. Will be categorized as an export (as spending on a service). $2, $4, and $6 per unit, respectively. In year 2, 4 The following figure shows a business cycle. the prices of good X, Y, and Z are $3, $4, and 2 business cycle: (a) Point A (b) Between points and B (c) Point B (d) Between points B and C (e) $7, respectively. In year 2, twice as many units of each good are produced as in year 1. In 2 Baint A Point sA 3 Point B : trough in points B and C: recovery year 1, 20 units of X, 40 units of Y, and 60 S: Point D: peak units of Z are produced. If year 1 is the base 5 3 $2, $4 , and $6 per unit, respectively. lo year 2 the prices of good X, Y, and Z are $3, $4, and $7, respectively. In year 2, twice as many units year, what does Real GDP equal in year 2? year 1, 20 units of X, 40 units of y. and 60 units of Z are produced. If year 1 is the base year, what does Real GDP equal in year 27 current-year quantness using the base- Real GDP in year 1 = $2 x 20 + $4 x 40 + $6 x 60 = $560 Real GDP in year 2 = $2 x 40 + $4 x 80 + $6 x 120 = $1,120 Real GDP is calculated using the base-year prices computed against the 6 current-year quantities. Real GDP is $487 billion in year 1 an rate equal to? " economic growth Real GDP: The value of the entire output adjusted for price winin a co Real GDP in year 1 = $2 x 20 + $4 x 40 + $6 x 60 = $560 Real GDP - 2(Baseyear change in prices - hang - CPledge x100 Growth Rate = [($498 - $487) / $487] x 100= Real GDP in year 2 = $2 x 40 + $4 x 80 + $6 x 120 = $1, 120 Goods Quantities 190 Pr 2019 papayas $1.00 [No Title] Fish is 50.60 20 50.80 $4.00 349. bit. GDP in 2019 is Click to add notes 2 351. GDP - E(PQ) C slide 5 of 8 English (United States) Accessibility: Investigate Notes Comments 198 + 120% EXAutoSave O OFF ~ A . C ... Corey #5 - Saved to my Mac Home Insert Draw Design Transitions Animations Slide Show Review View Recording ? Tell me Share Comments Layout v Century Gothic (Headin... v 32 AAA Shapes Rese Paste New Section v B I U ab x x2 AV ~ Aav | DAY Convert to Picture A] Text Box Arrange Quick Slide [2 V Sensitivity Designer SmartArt Styles -X 4. Included. W ending for a service). e had was not sea Categorized as investine . Should not be included since it is a financial transaction. ded. Will be categorized as investment (as fixed investment) . Included (since the production took place Phase within the country's borders). Will be Included. Will be categorized as an export (as spending on a service). 4 If Real GDP is $487 billion in year 1 and $498 2 The following figure shows a business cycle. billion in year 2, what is the economic growth and B (c) Point B (d) Between points B and C () rate equal to? 1. Point A: peak Point B: trough 5. Point D: peak Real GDP: The value of the entire output produced annually within a country's borders, 5 3 $year 1, the prices of goods X, Y, and Z are the prices of good X, Y, and Z are $3, $4, and if respectively. in year 2, twice as many units adjusted for price changes year, what does Real GDP equal in year 2? current-year quantified using the Real GDP in year 1 = $2 x 20 + $4 x 40 + $6 x 60 = $560 Real GDP in year 2 = $2 x 40 + $4 x 80 + $6 x 120 = $1,12 Real GDP = E(Base-year prices X Current-year quantities) 6 4 billion in year 2 . what is the economic growth rate equal to? ed me value of the entire output adjusted for price changes county's borders. Percentage change in prices = CPhater year - CPearlier year x 100 Real GDP - 2/Baseyear pr CPlearlier year CPre - CPLedwe x100 Growth Rate = [($498 - $487) / $487] x 100= Growth Rate = [($498 - $487) / $487] x 100 = Goods Quantities 4930 Prices pumatitles 2019 Prices 2.26% $1.00 SO.60 20 50.80 skins 8 $4.00 IS $4.00 eter to Exhibit. GDP in 2019 is GDP - E(PQ) C a. not possible to calculate thout the CPI Click to add notes 8 1990 Slide 6 of 8 English (United States) Accessibility: Investigate Notes Comments 198 + 120% EXAutoSave O OFF ~ A . C ... Corey #5 - Saved to my Mac Home Insert Draw Design Transitions Animations Slide Show Review View Recording ? Tell me Share Comments Layout v Century Gothic (Headin... v 32 AA AD Shapes Rese Paste New Slide Section v B I U ab x x2 AV ~ Aav | DV Av Convert to Arrange Quick [2 V Designer SmartArt Picture A] Text Box Sensitivity Styles 2 The following figure shows as a phase of the Identify each of the following sold phase ofthe and B (c ) Point B ( d) Between points B and C (e) Point D 1. Pointeer points A and B: contraction 3. Point B : trough in points B and C: recovery S. Point D: peak 5 1990 2019 5 Goods Quantities 1990 Prices 3 In year 1, the prices of goods X, Y, and Z are Quantities 2019 Prices the prices of good X, Y, and Z are $3, $4, and respectively. In year 2, twice as many units year 1. 20 units of X, 40 units of Y, and 60 year, what does Real GDP equal in year papayas 10 $1.00 20 $0.50 Real GDP is calculated using the base-year prices computed against the Real GDP in year 1 = $2 x 20 + $4 x 40 + $6 x 60 = $560 Real GDP in year 2 " $2 x 40 + $4 x 80 + $6 x 120 = $1,12 fish 15 $0.60 20 $0.80 6 billion in Ver rate equal to?' he economic growth skirts 8 $4.00 15 $4.00 Real GDP: The value of the entire output produced annually within a country's borders. Real GDP - 21Baseyear prices X Currentyear itage change in prices - wing - CPledge x 100 Growth Rate = [($498 - $487) / $487] x 100= Refer to Exhibit. GDP in 2019 is 7 Goods Quantities 190 Prices Quantities 2019 Prices a. $49. $1.00 20 50.50 GDP = E(PQ) SO.60 20 SO,80 b. $51. $4.00 IS $4.00 C. $86. er to hibit. GDP in 2019 C GDP - ZIPQ C d. $92 *. not possible to calculate without the CPI. e. not possible to calculate without the CPI. 8 Goods Damntitles (0990 Prices Quantities 2019 Prices $1.00 50.50 SO.60 skins $4.00 $4.00 Real GDP - 2Baseyear quantilied 19 ging that 1990 is the base year, Real GDP in D at the CPI Click to add notes Slide 7 of 8 English (United States) Accessibility: Investigate Notes Comments 198 + 120% EXAutoSave O OFF ~ A . C ... Corey #5 - Saved to my Mac Home Insert Draw Design Transitions Animations Slide Show Review View Recording ? Tell me Share Comments Layout v Century Gothic (Headin... v 32 AA AD Shapes Rese Paste New Section v B I U ab x x2 AV ~ Aav | DV Av Convert to SmartArt Picture A] Text Box Arrange Quick Slide [2 V Sensitivity Designer Styles 2 The following figure shows as a phase of the Identify each of the following sold phase ofthe and B (c ) Point B ( d) Between points B and C (e) Point D 1. Pointeer points A and B: contraction 3. Point B : trough in points B and C: recovery O S. Point D: peak 1990 2019 5 Goods Quantities 1990 Prices 3 In year 1, the prices of goods X, Y, and Z are Quantities 2019 Prices the prices of good X, Y, and Z are $3, $4, and respectively. In year 2, twice as many units year 1. 20 units of X, 40 units of Y, and 60 year, what does Real GDP equal in year papayas 10 $1.00 20 $0.50 Real GDP is calculated using the base-year prices computed against the Real GDP in year 1 = $2 x 20 + $4 x 40 + $6 x 60 = $560 Real GDP in year 2 " $2 x 40 + $4 x 80 + $6 x 120 = $1,12 fish 15 $0.60 20 $0.80 6 billion in Ver rate equal to?' he economic growth skirts 8 $4.00 15 $4.00 Real GDP: The value of the entire output produced annually within a country's borders. Real GDP - 2(Baseyear prices X Currentyear itage change in prices - - CPledge x 100 Growth Rate = [($498 -$487) / $487] x 100= Real GDP = E(Base-year prices X Current-year quantities) 7 Quantities 190 Prices Quantities 2019 Prices Assuming that 1990 is the base year, Real GDP in Goods $1.00 20 50.50 SO.60 2019 is $0.80 $4.00 s $4.00 a. $49. GDP - E(PQ) C b. $51. . not possible to calculate without the CPI. C. $86 D d. $92. 8 Goods Down mcleles a9so Prices Quantities 2019 Prices e. not possible to calculate without the CPI. $1.00 SO.50 50.60 skins $4.00 $4.00 Real GDP - 2Baseyear quanlilies! 019 ping that 1990 is the base year, Real GDP in D e without the CPI. Click to add notes Slide 8 of 8 English (United States) Accessibility: Investigate Notes Comments + 120% EX