How much does the production of a kayak add to GDP if the shell costs $250, the paint costs $20, the finisher costs $35, the manufacturer sells it to the dealer for $500, and the dealer sells it to her customer for $800? A) $1,605 B) $1,300 C) $500 D) $305 E) $800
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- Disposable income Consumption (dollars) expenditure (dollars) 0 100 300 500 700 900 In the above table, savings are positive when disposable income is greater than D zero. $100. $300. 100 180 340 500 660 820 $500.TOTAL EXPENDITURE (Billions of dollars) 500 475 450 425 400 375 350 325 300 H 300 425 REAL GDP (Billions of dollars) 325 350 375 400 If Real GDP is $425 billion, inventories 450 475 I 500 (TP = Real GDP) TE the firms production, and Real GDPWhat is the level of private consumption in GDP is 10,000, investment is 2,900, government spending is 1,600, imports are 3,100, and exports are 3,500?
- Government Consumption expenditure (dollars) Investment Real GDP expenditure (dollars) (dollars) (dollars) 500 500 2,500 3,000 500 500 3,250 4,000 5,000 500 500 4,000 500 500 4,750 6,000 500 500 5,500 7,000 500 500 6,250 8,000 In the above table, there are no taxes and no imports or exports. The change in unplanned inventories when real GDP is $7,000 is اختر أحد الخيارات $500 a O $500- b O $6.500 .cO $1,500 d OThe figure below shows the flows of expenditure and income in Australia. (2.a) Name the flows of Y, C, G, I, X, and M.The following is production data: Waffles Waffles Orange Orange Toaster Toaster Year (Quantity) (Price) Juice Juice Ovens Ovens (Quantity) (Price) (Quantity) (Price) 2010 2000 $1.20 400 $5 280 $22 2011 2200 $1.30 410 $5 300 $25 2012 2500 $1.40 420 $6 300 $28 The above, like I said, is production data. Consumption data is as follows: the average citizen consumes 150 waffles, 20 units of orange juice and 4 toaster ovens. 2010 is the base year for all calculations. Carefully following all directions for entering your answer, tell me nominal GDP for 2012 for this economy.
- Problem 2. Complete the following table: Income (Y) Consumption (C) АРС MPS (7) 2,000 1,900 3,000 2,7001) Which of the four components of GDP – C, I, G, NX -- will be affected by each of the following transactions involving American Airlines ? a)You purchase a ticket on American Airlines flight to Seattle to visit your uncle. b)American Airlines purchases a new jetliner from Boeing Co located in Seattle, Washington. c)A person in France purchases a ticket to fly on an American Airlines flight from Paris to New York. d)The city of Philadelphia agrees to spend funds to extend one of the runways at Philadelphia International Airport so that American Airlines will be able to land larger jets.If consumption expenditure is $3100 and savings is $1800 Calculate income
- Refer to Table 1. The value for GDP in billions of dollars isA) 950.B) 1,030.C) 1,050.D) 1,110The following transactions took place in Ecoland in 2018: Trillions of 2014 dollars Government purchases 400 Taxes 360 Firms’ profits 300 Investment 400 Consumption expenditure 1000 Wages paid to labor 1400 Exports 300 Government transfer payments 150 Imports 350 (a). Calculate Ecoland’s real GDP in 2018, i.e., GDP measured in 2014 $. (b) How much do households save in Ecoland? Is it enough to finance domestic investment? (c) Does the government have a balanced budget? If not, what is the surplus or deficit? (d) If Ecoland’s nominal GDP in 2018 is $1900 trillion, how much inflation has Ecoland experienced since 2014?Billions of Dollars 6,500 1,900 1,200 Consumption Gross private domestic investment Government spending less transfer payments Imports Exports Depredation Indirect business taxes and transfers 600 500 1,500 750 17) Using the above table, the GDP is (in billions of dollars) A) 10,200. B) 8,200. C) 8,900. D) 9,500.
