Consider the data shown in the table. Assume that the economy produces only barrels of oil. What is the nominal GDP for last year? Barrels of Oil Sold Last year 80,000 This year 83,000 $5,104,500 $5,229,000 $4,920,000 $4,800,000 Actual Price $60 $63

4. Measuring GDP The following table shows data on consumption, investments, exports, imports, and government expenditures for the United States in 2017, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the table to calculate GDP using the expenditure approach. Data (Billions of dollars) Consumption (C) 13,321.4 Investment (I) 3,368.0 Exports (X) 2,350.2 Imports (M) 2,928.6 Net Exports of Goods and Services Government Purchases (G) 3,374.4 Gross Domestic Product (GDP)

• Holly has recently graduated from college and has bought a house that was built 50 years ago for $100,000. She used a real estate agent to help her find and purchase the house, and the real estate agent received 5 percent of the value of the sale, or $5,000, to be paid by the seller of the house. The value of GDP in this case would increase by $95,000. increase by $105,000 increase by $5,000. increase by $100,000.

I completely understand that you will not do th entire worksheet but could you do a couple of them and explain to me how to finish the rest and how to calcuate the overall gdp? Thank you

Which of the following is not included in 2016's GDP? the commission earned by a headhunter when she locates a job for a client the profit earned in 2016 from selling a stock that you purchased in 2008 the value of a motorcycle produced in the United States and exported to Japan the value of a motor that is used in the production of a lawn mower

If a real estate agent sells a house for 364,217 dollars that the previous owners had bought 13 years earlier for 194,546 and earns a commission of 9,348 dollars on the sale, by how many dollars did GDP increase?

Find the last year GDP data and the personal consumption expenditure data (in billions) for the US economy. Section 1: Domestic Product and Income

GDP Data (in $ billion) Table 7-1 Durable goods = $10,600.49 Services = $12,500.56 %3D Business purchases of capital goods = $1,080.00 Fixed investment = $1,970.45 Exports = $700.00 Imports = $820.46 Nondurable goods = $1,000.46 Inventory investment = $301.25 Government transfer payments - $1,240.26 %3D Purchases of new residential housing - $890.45 Government purchases = $7.890.56 Refer to Table 7-1. GDP is equal to O S34,141.31 O $33,143.31 O $34,133.31 O $34.143.31

Instructions: Answer the following questions. Make sure to number your answers when you upload your response. Why do economists include only final goods in measuring GDP for a particular year? Why don’t they include the value of stocks and bonds sold? Why don’t they include the value of used furniture bought and sold?   Which of the following are included in this year’s GDP? Explain your answer in each Interest on an AT&T corporate bond. b.      Social security payments received by a retired factory worker.                                               The unpaid services of a family member in painting the family home. The income of a dentist. e.      The money received by Smith when she sells her economics textbook to a book buyer. The monthly allowance a college student receives from Rent received on a two-bedroom apartment. The money received by Josh when he resells his current-year-model Honda automobile to Kim. The publication of a college textbook. j.…

Question 9 Which of the following affects this year's GDP? There may be more than one answer. a) The government decides to hand out more money to the poor. b) The government decides to raise health workers' salaries. c) The parliament decides to freeze their own salaries. d) You volunteer as a vaccine provider.