If consumption is $12 billion, investment is $5 billion, government purchases are $6 billion, exports are $3 billion, and imports are $5 billion, calculate GDP. (Do not include the dollar sign or billion in your answer. So, if your answer is $35 billion, just write in 35 )
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If consumption is $12 billion, investment is $5 billion, government purchases are $6 billion, exports are $3 billion, and imports are $5 billion, calculate
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- Give typing answer with explanation and conclusion In a certain country called Happyland, in the year 1988, consumption was 4,990,000 happies, investment was 1,350,900, government purchases were 2,000,500 happies, exports were 1,500,000 happies and imports were 850,000 happies. (Happies is the currency used in Happyland :)) What was the value of GDP measured in happies in Happyland in 1988? (Give answer to the nearest happy.)If consumption in the United States is $10 trillion, investment $5 trillion, government purchases $4 trillion, exports $2 trillion, and imports $3 trillion, calculate GDP. Put your answer in trillions and leave off the dollar sign. (Note that if your answer is $25 trillion, putting your answer in trillions with no dollar sign means that you would simply enter your answer as 25.)If consumption is $300 billion, investment is $100 billion, government purchases are $200 billion, exports are $200 billion, and imports are $100 billion, calculate GDP. (Just leave the numbers in billions.)
- The following table shows the data for a hypothetical economy in a specific year. All figures are in billions of dollars. Category Billions of Dollars Personal consumption expenditures $ 80 Purchases of stocks and bonds 30 Net exports −10 Government purchases 30 Sales of secondhand items 8 Gross investment 35 Instructions: Enter your answer as a whole number. What is the country’s GDP for the year? $ billionConsider the following hypothetical data for the U.S. economy in 2018 (all amounts are in trillions of dollars; see pages 179–182).Consumption 11.0 Indirect business taxes .8 Depreciation 1.3 Government spending 3.8 Imports 2.7 Gross private domestic investment 4.0 Exports 2.5e. Based on the data, what is GDP? NDP? NI?f. Suppose that in 2019, exports fall to $2.3 trillion, imports rise to $2.85 trillion, and gross private domestic investment falls to $3.25 trillion. What will GDP be in 2019, assuming that other values do not change between 2018 and 2019?Suppose the current GDP is $11.3 trillion. Assuming that consumption is $6.7 trillion, investment is $2.1 trillion, exports are$1.8 trillion, and imports are $1.4 trillion, government purchases are $___ trillion. If GDP measured in billions of current dollars is $5,465, consumption is $3,657, investment is $741, and net exports are -$1,910, then government purchases are:
- If consumption is $11 trillion, investment is $2 trillion, government purchases are $3 trillion, exports are $2 trillion and imports are $3 trillion, calculate GDP. Use the formula GDP = C + I + G + (X – IM). I suggest just leaving the numbers in trillions (rather than adding in 9 extra zeroes).if consumption is $3.8 trillion, investment is $1.1 trillion, government spending is $1.1 trillion, imports are $1.6 trillion, and exports are $1.4 trillion, how much is GDP?Use the relevant numbers from the following information to compute GDP. Given this information, GDP would be ________________ billion. Consumption = $ 800 billion Investment = 300 billion Government purchases = 320 billion Rental income on commercial real estate = 50 billion Exports = $ 80 billion Imports = $ 90 billion Dog food sales revenue = $ 20 billion
- Q.3.3 Why does GDP includes net exports instead of simply exports? Q.3.4 How can GDP increase if production of goods and services is constant? Q.3.5 What is meant by a perfectly equal distribution of income?(Hint: Give a numerical example to illustrate your answer)1) Explain how GDP is used in the calculation of a recession or economic growth. What is a recession? How do you know whether an economy is growing or not? 2) Explain why intermediate goods are not counted in the calculation of GDP. What is an intermediate good?How do I/ Where can I find the relative size of each of the components (in absolute dollars and as a percentage of GDP) from the U.S. economy from the Bureau of economic analysis (BEA) website? (https://www.bea.gov/news/2023/gross-domestic-product-second-quarter-2023-second-estimate-and-corporate-profits) The four components that make up GDP are: Concumption, investments, governemnt spending and net exports