Drake believes that over the past year, the economy is experiencing rapid inflation, while Pedro says that the economy actually experienced disinflation during this period. The easiest way to settle their argument is to look at GDP figures for the past year. True or False True False

Please answer the questions provided on the image below.

While GDP includes tangible goods such as books and bug spray, it excludes intangible vers provided by teachers and exterminators. True False

We Suppose U.S. nominal GDP increases from one year to the next year. conclude that U.S. production of goods and services has increased because: Prices have decreased from one year to the next Prices have increased as well from one year to the next We do not know whether prices have changed from one year to the next The best measure for determining growth in output between two periods is real GDP

The Wakandan GDP for the year 2040 was $87,000. Government expenditures were $29,000 and investment was $6,000. They exported $15,000 worth of vibranium and imported $14,000 worth of coffee beans. If these are the only relevant transactions, what is the value of government spending? Round to two decimal places. Do not enter the currency symbol, but enter the negative sign if appropriate. If your answer is -$1.125, enter -1.13. 29,000

Statistics Denmark monitors the development of economic variables and measures e.g. productivity development.In general, it is one of the laws of economics that employee productivity determines the ability of employers to pay employees wages. The higher the productivity (per capita output), the higher the wages that can be paid. In a recession, such as Covid, companies are generally reducing their use of labor. The latest statistics show the following: In the third quarter of 2020, labor productivity growth in Denmark was 2%. This increase alone does not say much, but is considered to be able to reflect an increase in productivity following a contraction in labor input.   a. Show the relationship between production and labor use in the short term and at the same time explain with a picture what can cause the growth of productivity. b. What is happening to marginal production at the same time? c. Show how wages develop if companies keep marginal costs fixed in the above circumstances…

The following is data on income (IDR 1,000) and the Consumer Price Index (CPI) with the base year 2014 Question: - Before working on the questions below, please change the base year to 2015 - Find the actual income each year with the 2015 base year - Determine the purchasing power of the currency for 2015 to 2019

Why do economists include only final goods and services in measuring GDP for a particular year? Why don't they include the value of used goods, i.e. cars, furniture, etc., bought and sold? Define net exports. Explain how US exports and imports each affect domestic production. How are net exports determined? Explain how net exports might be a negative amount. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

U.S. macroeconomic data are among the best in the world. Given what you learned in the Clear It Up "How do statisticians measure GDP?", does this surprise you, or does this simply reflect the complexity of a modern economy? Suppose GDP was modified to include the value - positive or negative - of changes in environmental quality. How could this be done accurately?

GDP is a m diverse collection of goods and services over time. It is not possible to count the number of goods and compare them because the types of goods change over time. It is possible to count the number of goods and attach monetary values to them to reflect their relative worth and then compare the value of the output at different points in time. That is, m_ m to make it possible to compare the relative worth of a is the common denominator for GDP measure.