A number of economists contend that official measures of Canadian gross private investment expenditures are understated.For instance, household spending on education, such as college tuition expenditures, is counted as consumption. Some economists suggest that these expenditures, which amount to 6 percent of GDP, should be counted as investment instead.investment if this suggestion was adopted?Based on this 6 percent estimate and the estimated 2020 Q2 GDP being $1,820,369 million, how many millions of dollars would shift from consumption.Smillion would shift from consumption to investment if this suggestion was adopted. (Enter your response rounded to the nearest whole number.)

GDP calculates the monetary value of the final goods and services—those purchased by the…

A number of economists contend that official measures of Canadian gross private investment expenditures are understated. For instance, household spending on education, such as college tuition expenditures, is counted as consumption. Some economists suggest that these expenditures, which amount to 6 percent of GDP, should be counted as investment instead. Based on this 6 percent estimate and the estimated 2020 Q2 GDP being $1,820,369 million, how many millions of dollars would shift from consumption to investment if this suggestion was adopted? $ million would shift from consumption to investment if this suggestion was adopted. (Enter your response rounded to the nearest whole number)

A number of economists contend that official measures of Canadian gross private investment expenditures are understated. For instance, household spending on education, such as college tuition expenditures, is counted as consumption. Some economists suggest that these expenditures, which amount to 6 percent of GDP, should be counted as investment instead. Based on this 6 percent estimate and the estimated 2020 Q2 GDP being $1,820,369 million, how many millions of dollars would shift from consumption to investment if this suggestion was adopted? $ million would shift from consumption to investment if this suggestion was adopted. (Enter your response rounded to the nearest whole number)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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