Bob and Cho Tokarev live in Conshohocken, PA. Cho's father, Eric, lives in Sweden.For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C),Investment (1), government purchases (G), exports (X), or imports (M). Check all that apply.TransactionThe Federal Aviation Administration expands the runways at Philadelphia International Airport,which is just a few miles from Bob and Cho's house..Cho gets a new video camera made in the United States.Cho buys a new BMW, which was assembled in Germany.Bob's employer upgrades all of its computer systems using U.S.-made parts.Cho's father in Sweden orders a bottle of Vermont maple syrup from the producer's website.C3000IDGXM000

The objective of the question is to identify the category of each transaction in the calculation of…

Answered: Bob and Cho Tokarev live in…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Gilberto and Juanita Ivanov live in Swarthmore, PA. Juanita's father, Lorenzo, lives in Sweden. For each of the following transactions, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment spending (I), government purchases (G), exports (X), or imports (IM). Check all that apply. Note: A product’s inclusion in one category does not necessarily imply that it is excluded from other categories.
Van and Amy Cho live in Swarthmore, PA. Amy's father, Carlos, lives in Sweden. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction C I G X M Amy gets a new video camera made in the United States. Van buys a sweater made in Guatemala. Amy's father in Sweden orders a bottle of Vermont maple syrup from the producer's website. Van's employer upgrades all of its computer systems using U.S.-made parts. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore.
Paolo and Sharon Zambetti live in Swarthmore, PA. Their son, Van, is an artist living in New York City. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction C I G X M Paolo buys a bottle of Italian wine. Sharon gets a haircut. Van paints a landscape and sells it to an art collector in Japan. The Zambettis build an addition on their house. The Federal Aviation Administration expands the runways at Philadelphia International Airport, which is just a few miles from Paolo and Sharon's house.
Larry and Megan Smith live in Swarthmore, PA. Megan's father, Raphael, lives in Sweden. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction Larry buys a sweater made in Guatemala. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. Megan's father in Sweden orders a bottle of Vermont maple syrup from the producer's website. Megan gets a new video camera made in the United States. Larry's employer upgrades all of its computer systems using U.S.-made parts.
Van and Amy Cho live in Conshohocken, PA. Amy's father, Carlos, lives in Sweden. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction Amy's father in Sweden orders a bottle of Vermont maple syrup from the producer's website. Amy gets a new refrigerator made in the United States. The Pennsylvania Department of Transportation, a state administration, fixes potholes along PA highway 23, which feeds into the center of Conshohocken. Van's employer upgrades all of its computer systems using U.S.-made parts. Van buys a sweater made in Guatemala. C I 0 G 0 0 X | M
Raphael and Susan Firth live in Swarthmore, PA. Their son, Alex, owns his own plumbing business. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction C I G X M Raphael's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China. Susan buys a new BMW, which was assembled in Germany. Susan gets a new video camera made in the United States. The town of Swarthmore puts on a fireworks display for the Fourth of July. Alex buys a new set of tools to use in his plumbing business.
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”?
Manuel and Poornima White live in Swarthmore, PA. Their son, Shen, owns his own plumbing business. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction C G M Shen buys a new set of tools to use in his plumbing business. Poornima buys a new BMW, which was assembled in Germany. Manuel's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China. The Federal Aviation Administration expands the runways at Philadelphia International Airport, which is just a few miles from Manuel and Poornima's house. Poornima gets a haircut.
When a U.S. consumer buys Canadian maple syrup at the grocery store, this purchase is:A) an importB) an exportC) gross domestic productD) a transfer payment. Below is economic data for Germany for 2016 (measured in billions of current euros). What was total spending? Consumption 1,649.79 Investment 636.42 Government spending 620.01 Exports 1,442.41 Imports 1,211.64 A) 2,675B) 4,348C) 2,906D) 3,137 Please ans both questions and you will get thumbs up.
For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction Felix paints a landscape and sells it to an art collector in Canada. Deborah buys a new BMW, which was assembled in Germany. The Azinians build an addition on their house. The Federal Aviation Administration expands the runways at Philadelphia International Airport, which is just a few miles from Carlos and Deborah's house. Deborah gets a new refrigerator made in the United States. C 0 U 0 I 0 0 0 G 0 0 0 0 X 0 0 0 M 0 0 0 0 0
The table below shows nominal GDP, exports, and imports for the United States. Nominal GDP, Exports, and Imports Year 2015 2016 Nominal GDP Exports Imports (billions of (billions of (billions of dollars) $2,308.0 2,334.1 LA dollars) $16,981.9 17,601.1 Instructions: Round your answers to one decimal place. If you are entering a negative number include a minus sign. a. Calculate the value of net exports in 2015. billion b. Calculate the value of net exports in 2016. billion dollars) $2,759.7 2,878.3
For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction C I G X M The Pennsylvania Department of Transportation, a state administration, fixes potholes along PA highway 23, which feeds into the center of Conshohocken. Felix's employer upgrades all of its computer systems using U.S.-made parts. Janet's father in Sweden orders a bottle of Vermont maple syrup from the producer's website. Janet gets a new video camera made in the United States. Felix buys a sweater made in Guatemala.

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