a. Use columns 1 and 2 to determine the equilibrium GDP for this hypothetical economy. billion

On the demand side of GDP, consumption by _____________ is the largest component of GDP, accounting for about two-thirds of the GDP in any year.     services     businesses     households     government

Course: Macroeconomics Find GDP per capita when the population is 1 billion and GDP is $3 trillion.

The annual output and prices of a three-good economy are shown in the table below. Quantity of Goods Year 1 Price Year 1 $6 $4 $3 Good Quarts of ice cream Bottles of shampoo Jars of peanut butter Instructions: Enter your answers as a whole number. a. What was the economy's nominal GDP in year 1? $ b. What was its nominal GDP in year 2? 3 1 3 Price Year 2 $6 $4 $3 Quantity of Goods Year 2 5 2 2

1.1. What is the US GDP for the first quarter and second quarter of 2020?  What is the personal consumption expenditures for the first quarter and second quarter of 2020?

1. Explain with your own words the definition of Gross Domestic Product. 2. How does the growth rate of real GDP contribute to an improved standard of living? 3. Use the following data to answer the question. The table lists some macroeconomic data for the United States in 2008. Item                                                    Billions of dollars Wages paid to labor                   8,000Consumption expenditure    10,000Net operating surplus               3,200Investment                                       2,000Government expenditure        2,800Net exports                                    –700Depreciation                                   1,800 3a) Calculate U.S. GDP in 2008.

Calculate total GDP for this economy given the following components of demand. Round your answer to the nearest tenth and enter the value in trillions of dollars. Components of GDP on the Demand Side (in trillions of dollars) Consumption Investment Government spending Exports Imports Provide your answer below: trillion Total GDP 12.9 3.8 4.2 3.0 4.2 ?

Need some help! Really don't understand economics.

Use the information in the following table to do exercises 8-15: silt 1 $20 $20 $4800 $20 $700xi $660 $20 Y $100 $300 $500 с $120 $300 G $30 $30 $30 $30 X $10 -$10 -$30 0-$50

Read the news clip, then answer the following question. The statement that total sales by businesses were up 0.3 percent means that GDP because OA. Increased by 0.3 percent; GDP is a record of the value of all production B. decreased by 0.3 percent; "total sales by businesses are sales of intermediate goods and services OC. did not change by 0.3 percent, GDP measures production of all final goods and services and "total sales by businesses includes final and intermediate goods and services OD. increased by less than 0.3 percent; we need to subtract retail sales of 1.3 percent from the total sales by businesses to eliminate double counting OE. increased by more than 0.3 percent; "total sales by businesses includes only sales of intermediate goods and services Expansion remains slow The Commerce Department reported that retail sales increased 1.3 percent in Net exports were up 0.8 percent in the first quarter and inventories held by businesses rose by 0.3 percent in June. Total sales by…