where they will show up in GDP calculations (i.e. under C, I, G, Exports, Imports)

V2     This question tests your knowledge of what activities are included in calculating GDP. Decide for each item whether it is part of GDP and, if so, to which expenditure category it belongs.   Purchase of electricity by a business is (refer to the scenario above):   Select one:   a. Not counted in GDP   b. Counted as part of consumption   c. Counted as part of investment   d. Counted as part of government   e. Counted as part of net exports

GDP Problem. Given the following information, compute GDP by either the Expenditures or the Income approach.  [You do not have to compute GDP both ways.]  Name which of the two approaches you are using, and identify all the accounts (e.g., “All profits” or “Gross Private Investment”)  you use in your computation of GDP.         All profits $ 800               Government purchases of goods & services    300              Imports      50        Government transfer payments   250                   Exports  50              Gross private investment     500      Rent   20            Wages, salaries      5000      Personal saving    1600      Depreciation   60              Net foreign income         0           Personal consumption expenditures     5200      Taxes on production & tariffs    40               Sales of stocks and bonds  1200           Interest   80                                               IDENTIFY:    ______________________ APPROACH USED  ACCOUNT…

Who helps calculate GDP in the United States? O the Census Bureau the Bureau of Economic Analysis the Bureau of Labor Statistics all of the above none of the above

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.…

The annual output and prices of a 3-good economy are shown in the table below. Quantity of Goods Year 1 Quantity of Goods Year 2 Good Price Year 1 Price Year 2 Quarts of ice cream $6 $6 Bottles of shampoo 4 1 4 2 Jars of peanut butter 3 3 Instructions: Enter your answers as whole numbers. a. What was GDP in year 1? b. What was GDP in year 2? 2.

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?

Can you do a,b, and c

what is meant by the concept of "value added" and how it can be used to calculate GDP

Read the news clip, then answer the following question. The statement that total sales by businesses were up 0.3 percent means that GDP because OA. Increased by 0.3 percent; GDP is a record of the value of all production B. decreased by 0.3 percent; "total sales by businesses are sales of intermediate goods and services OC. did not change by 0.3 percent, GDP measures production of all final goods and services and "total sales by businesses includes final and intermediate goods and services OD. increased by less than 0.3 percent; we need to subtract retail sales of 1.3 percent from the total sales by businesses to eliminate double counting OE. increased by more than 0.3 percent; "total sales by businesses includes only sales of intermediate goods and services Expansion remains slow The Commerce Department reported that retail sales increased 1.3 percent in Net exports were up 0.8 percent in the first quarter and inventories held by businesses rose by 0.3 percent in June. Total sales by…