a) There are two methods of calculating GDP: income approach and expenditure approach. According to your opinion which method is better suited for calculating the GDP of Bangladesh? Briefly explain the reasons behind your answer. b) When calculating the GDP using the expenditure method why do we subtract “imports”? c) When calculating the GDP of Bangladesh using the income approach why do we add the “earnings of foreigners living in Bangladesh”? d) When calculating the GDP of Bangladesh using the income approach why do we subtract “earnings by Bangladeshis living in foreign countries”?

Question 1: For each of the activities listed below, determine if it should be included in calculating the 2022 Canadian GDP using the expenditure approach by selecting INCLUDED or NOT INCLUDED and the corresponding reason.  Activity Included/Not included Reason        A Bombardier jet made in Quebec and sold to Martinique in 2022.      A house built in Toronto in 2021 but not sold until 2022.       A new federal courthouse built in Calgary in 2022.       A fine chocolate bar produced in Denmark and sold in Vancouver in 2022.       A case of whiskey produced in Ontario in 2022 and sold to someone in Spain in 2023.       A newly planted wheat farm in Manitoba in 2022.       A resident of New Brunswick pays her property taxes in 2022.       A performance by a Japanese acrobatic dance company in Edmonton in 2022.      Payment by a resident of Montreal to their neighbor's daughter for five hours of dog-sitting service in 2022. .     Purchase of 100 shares of…

$3 trillion$6 trillion$8.5 trillion$11.5 trillion

The following table shows data on personal consumption expenditures, gross private domestic investment, exports, imports, and government consumption expenditures and gross investment for the United States in 2007, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the following table to calculate GDP. Components   Personal Consumption Expenditures (CC) $9,734.2 Gross Private Domestic Investment (II) $2,125.4 Exports (XX) $1,643 Imports (MM) $2,351 Net exports of goods and services (X−MX−M)   Government Consumption Expenditures and Gross Investment (GG) $2,689.8 Gross domestic product (GDP)     This method of calculating GDP, which involves summing the       , is called the               approach.

To calculate GDP from the income side, one must add together wages, a) government income, interest, and profits. b) consumption and depreciation. c) interest, rent, depreciation, profits and indirect taxes net of subsidies. d) investment, rent, depreciation, profits and indirect taxes net of subsidies. e) net exports, depreciation, and profits.

Gross Domestic Product (GDP) tries to give us a sense of our economic well-being. Which of the following will be measured as an increase in GDP but need not reflect an increase in economic well-being? Ual The cost of new medical care that reduces infant mortality Ob) The value of the time Roland spends painting his own house c) Expenditures to clean up a major oil spill in Alaska d) Earnings of "numbers runners" in Chicago (they operate an illegal lottery) Question 2 (1 point) Suppose the economy of Sugarland produces 3 pizzas at $5 a pizza, 6 gallons of ice cream at $3 a gallon, and 5 cases of soda pop at $10 a case. The gross domestic product of Sugarland is a) $18. O b) $15. c) $50. d) $83. MacBook Air

Consider the following national accounts data for Westeros: Westeros' National Accounts (2019) GDP Item (S billions) Corporate income 140 Еxports 50 Wages and salaries 550 Net international income to the rest of the 8 world Gross investment 160 Government purchases 184 Indirect taxes 75 Personal consumption 500 Imports 27 Depreciation 79 Proprietors' incomes and rents Which is the following is the income-based estimate of GDP for Westeros? 65 $909 billion $751 billion $558 billion $939 billion

QUESTION 5 Refer to the table (all figures in billions of dollars). The disposable income (DI) for this economy is #3 Items Amount (i) (1) Personal Taxes $40 (2) Social Security Contributions $15 (3) Taxes on Production and Imports $20 (4) Corporate Income Taxes $40 (5) Transfer Payments $22 (6) U.S. Exports $24 (7) Undistributed Corporate Profits $35 (8) Govemment Purchases $90 (9) Gross Private Domestic Investment $75 (10) U.S. Imports $22 (11) Personal Consumption Expenditures $250 (12) Consumption of Fixed Capital $25 (13) Net Foreign Factor Income $10 (14) Statistical Discrepancy $0 O $274 $284 O $329 O $402 O $447 Click Save and Submit to save and submit. Click Save All Answers to save all answers.

Item Measuring U.S. GDP: Using the information in the table below, calculate GDP via the expenditure approach. Expenditure Approach: Consumption expenditure Wages Investment Interest, Rent, Profits Government expenditure Exports Indirect Taxes less subsidies Depreciation Imports Dollars 15,400 8,500 2,100 4,100 3,200 3,000 1,100 2,000 8,000

The following expenditure equation is utilised to measure the economy:  GDP = C + I + G + (X-M) Analyse each of the situations below and state which expenditures (or parts of the expenditures) would be counted under which of the four segments of the GDP expenditure equation, ie C, I, G or (X-M). a.       The purchase of Australian made furniture by a business for use in its cafe. b.       The purchase of foreign made furniture by a business for use in its café. c.       The purchase of wood by a business to manufacture furniture which will then be sold to Australian and foreign customers. d.       The purchase of 100 shares in ANZ Bank through a stockbroker. e.       Purchase of a 10-year-old foreign-made second-hand car from a Car Sales business in Parramatta, NSW. f.        A pension paid by the Australian Government to an old age pensioner. g.       You babysit for your nieces and nephews so your sister and her husband can go out for dinner.