Imports Exports Consumer 80 billion 40 billion 185 billion semi-durables Profits 320 billion. Consumer services 600 billion 1. Calculate Consumption, Investment, Government spending 2. Explain the expenditure method of calculating the GDP. How this method is different from the income method of calculating the GDP? 3. Use suitable method to calculate GDP and show your work.

Which of the following are included in the year’s GDP? which are excluded? Explain your answers The purchase of 100 shares of Tesla stock. Molly buys a home which was built in 2019. Kerry buys a new sweater to wear this winter.

One method of calculating GDP is to add the value of output produced. What is another?     A.) Income generated from production     B.) Stock market index such as S&P 500     C.) Measure the size of the money supply     D.) Divide the government budget deficit by the trade deficit

The table shows an economy's total production and the prices of the final goods it produced in 2020 and 2021.   The base year is 2020. Calculate real GDP in 2020 and real GDP in 2021.

Which of the following expenditures would notbe included in GDP?a. Purchase of a new lawnmowerb. Purchase of a silver cup previously sold newin 1950c. Purchase of a ticket to the latest movied. All of the above would be counted in GDP.

Which are included and excluded from GDP? Why? 1. The purchase of Chinese-produced software by firms in Canada. 2. The money that the Government spends in the form of social assistance payments (social welfare) 3. The value of clean air. 4. You purchase $5,000 worth of Apple Inc. stock. 5. Interest earned on a Government of Canada Bond.

Please see attachment and choose correct answer and explain it neatly

Prawesh the sheep farmer sells wool to Omar the knitter for $25. Cost of farming his sheeps to produce wool of $25 value is $5. Omar makes three sweaters, each of which has a market price of $50. Annisa and her friends buy all the sweaters. From this sales, Omar makes profit of $100. Calculate the GDP using three approaches (and explain the calculation)   1. What is the final value of the production? 2. What is the total income? 3. What is the total expenditure?

ACTIVITY 1: Components of GDP Which component of GDP would each of these fit into?   1. Mechanic fixes a transmission   2. A business purchases computer software and a PC   3. A local library purchases new audio books   4. A retailer purchases tennis shoes from a manufacturer in China and sells them   5. Mother purchases those tennis shoes from the retailer Write one more example of each of the four components.   6. Consumption   7. Investment   8. Government spending   9. Net exports   10. Explain why the sale of used goods is not included in GDP.   ACTIVITY 2: Nominal and real GDP You are an economist who has been asked to calculate your nation’s GDP, which produces only three goods/services.   Calculate nomincal GDP for Year 1 and Year 2. GDP = price x quantity.   Year 1 Nominal GDP Year 2 Nominal GDP Price Quantity GDP Price Quantity GDP Oil changes $15 5 $75 Oil changes $18 6 $108 Hamburgers $2 20 $40 Hamburgers $3 25 $75 MP3 players $150 3 $450 MP3 players $175 5 $875 Total $565…

GDP is composed of a number of categories. What category makes up the largest portion of GDP? What category makes up the smallest portion of GDP? What is “Gross private domestic investment”? What does gross private domestic investment measure? What is “Net exports of goods and services”? Why should net export be negative?