ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- Everything in this question pertains to 2025. Bombardier spent $146 in US-produced intermediate goods. It used these intermediate goods to make streetcars which it sold to Toronto. It paid $315 to compensate its workers and made a loss of $21. Based on the information provided, what was Bombardier's contribution to 2025 GDP? Round to two decimal places. Do not enter the currency symbol, but enter the negative sign if appropriate. If your answer is -$1.125, enter -1.13.arrow_forwardPotential GDP is ______$ Ss attachedarrow_forwardPlease give me answer with detail explanationarrow_forward
- Select the statement below which highlights the role of real GDP: “The growth in real GDP has been much lower than expected over the last few years and... Group of answer choices Unemployment has been rising as a result creating hardship for many in the country. The country is currently in a mild but lasting recession. Inflation is making the growth numbers more optimistic. The government needs to adjust how GDP is being measuredarrow_forwardExplain the components of AD, and how it relates to the “Product Market” portion of the simple circular flow as presented in class. Differentiate the AD and product market from the perspective of the “Factor Market” and the income approach of measuring GDP.arrow_forwardThe following information is given for an economy: Labor Force of an Economy Number of People (millions) Total population 46.5 Children under the age of 16 8.5 Retirees 7.8 Employed 23.9 Unemployed 2.5 Not actively seeking employment 3.0 Homemakers 0.8 Instructions: Round your answers to one decimal place.…arrow_forward
- eco please help......arrow_forwardAssume an economy with two firms: a coffee beans producer and a coffeeshop. In a given year, a coffee beans producer grows 75,000 tonnes of coffee beans, sells 50,000tonnes of coffee beans to the local coffee shop at $50 per tonne, exports 20,000 tonnes of coffeebeans at $50 per tonne, and stores 5,000 tonnes as inventory. The coffee producer pays $100,000in wages to consumers. The coffee shop produces 1,000,000 cups of coffee and sells all of it todomestic consumers at $4 a coffee. The coffee shop pays consumers $400,000 in wages. Inaddition to the 1,000,000 coffees consumers buy from the local coffee shop, they (consumers)import and consume 300,000 cups of coffee (coffee pods), and they pay $2 per a coffee pod.Calculate gross domestic product using• the product approach,• the expenditure approach, and• the income approach. PLEASE SHOW ALL HAND WRITTEN WORK AND STEPS!!arrow_forwardThe year 2015 Base Year Price Index = (120) Base Year Output = (4 million) The year 2016 Current Year Price Index = (140) Current Year Output = (5 million) 1.Calculate the following: Nominal G.D.P. in 2016 Real G.D.P. in 2016 2. Calculate MPS for the following data: Y1=2000 S1=300 Y2=4000 S2=800 3.Calculate MPC for the following data: Y1=2500 C1=1500 Y2=5000 C2=2500arrow_forward
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