a. Explain 3 methods of calculating national income. b. Explain why the Gross Domestic Product (GDP) of developing countries is greater than the Gross National Product (GNP)!
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One indicator of an efficient macro allocation is the output value
national economy produced in a certain period. This is because the amount of national output can indicate several important things in a national economy, including those related to the productivity of a country and how efficient the resources are in the economy to produce goods and services. In connection with this:
a. Explain 3 methods of calculating
b. Explain why the
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- 1) Please answer the questions related to graph below: 30,000 Britain Japan Italy 25,000 China India 20,000 15,000 10,000 5,000 1000 1200 1400 1600 1800 2000 Year a) What economist call the shape of the line above and why? b) What does it mean Gross Domestic Product (GDP) per capita? c) How do we calculate GDP per Capita? d) What is the difference between GDP per capita and disposable income? e) We observe a sustained growth in average living standards since 1700 in above graph. How did this happen? GDP per capitaAccording to the figure showing 2020 GDP for selected countries, how much larger (in percentage terms) is America's GDP than: 21.43 14.34 5.08 United China Japan States b. Russia? % larger Copyright © McGraw Hill LLC. Permission required for reproduction or display. GROSS DOMESTIC PRODUCT (in U.S. $ trillion) % larger 3.86 2.87 2.83 1.70 1.27 Germany India Great Britain Russia Mexico Source: Gross Domestic Product 2020. The World Bank Group, March 2021 0.53 Sweden Instructions: Round your responses to the nearest whole number. a. Germany? 0.21 Greece 0.01 HaitiThe data in the table below show the total output (a mixture of consumer, capital, and government services) and the prices of each product for the distant country of Vindaloo. (All figures are in billions and the base year is 2018.) a. Complete the table below. 123456789101112 PricesNominal GDPQty2019 PricesNominal GDPReal GDPQty2020 Prices Nominal GDPReal GDPPizzas32$8$ 36$9$ $ 40$10$ $ Movie tickets226 248 268 Farm tractors4105 595 6110 Parking meters640 750 460 Totals 201820192020ltemQty2018 b. The value of nominal GDP in 2018 is $, in 2019 is $, and in 2020 is $. c. The value of real GDP in 2018 is $, in 2019 is $, and in 2020 is $. d. The value of the GDP deflator in 2018 is, in 2019 is, and in 2020 is. Answer to one decimal place. e. The inflation rate (using the GDP deflator) in 2019 is % and 2020 is %. Answer to one decimal place. f. Suppose that the representative consumer in Vindaloo buys 5 units of each consumer good. In this case the cost of the bundle in 2018 is $, in 2019…
- Snack Year Price per Unit Quantity 2021 10 pesos 30 2022 15 pesos 40 Select one: Cheese Nominal GDP is 970 pesos in 2021. Real GDP is 970 pesos in 2022. GDP deflator is approximately 108.38 in 2022. GDP deflator is 90 in 2021. Price per Unit 15 pesos 10 pesos The table above describes production and price levels of Macroland in 2021 & 2022. According to this table, which one of the following is correct? (in this question, take 2021 as the base year in your calculations whenever necessary) Soda Quantity Price per Unit Quantity 15 20 6 pesos 25 6 pesos 201. Use the following goalposts in calculating the HDI. "GOALPOSTS" 0% Progress $100 20 0 0 Income Life Expectancy Average Education Expected Education 100% Progress $75,000 85 15 18 [Hint: You may want to use Excel to speed the following calculations, since the question involves re-calculating several times with different numbers. But, it is still necessary to show work from all key steps.] a. Calculate the HDI (Human Development Index) for a country with PPP income of $15,000, average education of 9 years, expected education of 11 years, and life expectancy of 65. What is the interpretation, or scale, of the HDI? b. What would the country's HDI be if their income improved to $35,000 and all other numbers stayed the same? What is the percentage increase in the HDI as compared to part a.? c. Return to the original data of part a. To what level would life expectancy need to increase in order to increase the HDI by the same amount that the $20,000 increase (or more to the point, 133%…Use the following composition of expenditure for the economy of a country named the Republic of Tapuwa, for the year ended 2019 to answer the questions below:COMPONENTR millionsConsumption expenditure (C) Investment (I)Government spending (G) Exports (X)Imports (Z)DepreciationForeign payment to the rest of the worldForeign payment from the rest of the worldShow all calculations and formulae.9 000 6 500 7 000 1 800 2 400 700 300250 Compute the value for the country’s GDP (Gross Domestic Product) at market price. Determine the value of the country’s NNI (Net National Income) at market price.If it is predicted that the GDP will increase to 22 000 in 2020, calculate the growth rate between 2019 and 2020.Q.7.2.5The measure of GDP for economic growth is not always perfect. Describe any two problems that are associated with GDP as a measure of economic growth.
- Question Hello. Can you please assist on the follwing question below. You have been appointed chief economist of a small economy of Uhuru. Use the information below which relates to Uhuru in 2020 and answer the questions that follow: National income Accounting Total in uhuru for 2020 R (millions) Consumption 86 495 Gross capital formation 9 897 Government spending 12 458 Net exports 8 891 Primary income payments to the rest of the world 2 154 Primary income receipts 924 Consumption of fixed capital 165 Subsidies 325 Taxes 467 Q.1 Calculate the gross domestic product (GDP) at market prices for Uhuru in 2020. Q.2 Calculate the net domestic product at market prices for Uhuru in 2020. Q.3 Calculate the net national product at factor cost for Uhuru for 2020.Given the statistics in the table below, which of the following statements is true? Bangaladesh GDP per person (2010 constant U.S. dollars) $1002.39 $1062.04 $1127.27 $1203.22 Year 2015 2016 2017 2018 Kenya GDP per person (2010 constant U.S. dollars) $1093.13 $1129.71 $1157.05 $1202.13 From 2015 to 2018, Kenya's standard of living always exceeded Bangladesh's standard of living. By the year 2018, Bangladesh had caught up with Kenya in terms of standard of living. From 2015 to 2018, Kenya's economic growth always exceeded Bangladesh's economic growth. From 2015 to 2018, Kenya's economic growth rate was always negative.At what prices does the trend of the gross national product is calculated, in order to measurethe economic development
- Refer to the table given. The gross domestic product (GDP) in billions of TL i .. TL Billions Government purchases Services consumption Receipts of factor income from the rest of the world Nonresidential investment 1000 500 30 650 Exports Durable goods consumption Change in business inventories Imports Nondurable goods consumption Payments of factor income to the rest of the world Residential investment 50 300 40 200 600 50 200 3440 2900 3140 3650Hello. Can you please assist on the follwing question below. You have been appointed chief economist of a small economy of Uhuru. Use the information below which relates to Uhuru in 2020 and answer the questions that follow: National income Accounting Total in uhuru for 2020 Consumption 86 495 Gross capital formation 9 897 Government spending 12 458 Net exports 8 891 Primary income payments to the rest of the world 2 154 Primary income receipts 924 Consumption of fixed capital 165 Subsidies 325 Taxes 467 Q.1 Calculate the gross domestic product (GDP) at market prices for Uhuru in 2020. Q.2 Calculate the net domestic product at market prices for Uhuru in 2020. Q.3 Calculate the net national product at factor cost for Uhuru for 2020.Q.7.2 Use the following composition of expenditure for the economy of a country named the Republic of Tapuwa, for the year ended 2019 to answer the questions below: COMPONΕNT R millions Consumption expenditure (C) 9 000 Investment (I) 6 500 Government spending (G) 7 000 Exports (X) 1 800 Imports (Z) 2 400 Depreciation 700 Foreign payment to the rest of the 300 world Foreign payment from the rest of the 250 world Show all calculations and formulae. Calculate the value of the country's GDE (Gross Domestic Expenditure).
