a. What is the value added at each stage? Stage 1: $ Stage 2: $ Stage 3: $ Stage 4: $ b. How much does this output contribute to GDP?

Need help with this. Thank you 1. Explain why the Government Spending (G) component of GDP falls short of actual (total) government outlays or expenditures. - If Depreciation = $479 Gross private domestic Investment (I) = $716 Government spending = $924 Imports = $547 Personal Consumption Expenditures = $2,966 Exports = $427 a.  How big is the GDP? b.  How big is National Income?

H6. Which of the following transactions should or should not be counted in GDP? Answer why or why not. A Picasso painting sold at an auction for $30 million $20 million tires purchased by Ford Motor Company A $100 million Initial Public Offering (IPO) by Gameboy A new tennis racket was purchased by Roger Federer A new tunnel under the Hudson $20,000/year value of grandparents' babysitting their grandson A $15 Pizza A $1,200 stimulus check sent to households by the government as COVID relief

2. True or False? When we measure GDP, it's always better to measure aggregate expenditure rather than aggregate production. A. True B. False 3. What accounts for the difference in real GDP vs. nominal GDP for the same year? A. Month of the year measurement is taken in B. Which government agency reports the number C. What price level is used D. Whether exports exceed imports that year or vice versa 4. Which U.S. federal agency produces GDP data for the U.S.? A. BEA B. CIA C. FBI D. FDA 5. Real GDP rose from $3 trillion to $3.1 trillion in one year. What's the GDP growth rate? A. 0.1% B. 3.2% C. 3.3% D. 10% 6. In our model of production for studying the GDP, what does lower-case y stand for? A. Productivity parameter B. Per capita GDP C. Marginal GDP D. Per capita capital