ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Which of the following are included in the year’s
1. Interest received on an AT&T corporate bond
2. Social security payments received by a retired factory worker.
3. Income of a dentist from the dental services she provided.
4. The value of Galaxy chrome books produced by Samsung in New Jersey.
5. A Monthly allowance that a college student receives from home.
6. The publication and sale of a college textbook.
7. The cost of production of Nike shoes produced in Taiwan.
8. A $3 billion increase in business inventories.
9. The purchase of 100 shares of Tesla stock.
10. Molly buys a home which was built in 2019.
11. Kerry buys a new sweater to wear this winter.
12. The value of profits earned by Harley Davidson in Japan.
13. Coca-Cola builds a new bottling unit in the United states.
14. Income of a tax accountant working for H&R block.
15. The value of car batteries used in production of electric cars.
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- Which of the following transactions would NOT be counted in GDP? Select one: a. Nike builds a retail store. b. Your mother buys 100 shares of Nike stock. c. Your mother buys a pound of Washington-grown apples. d. The Indiana state government pays for repair of a damaged bridge over the Wabash River.arrow_forward4. GDP vs Real GDP Consider a simple economy that produces two goods: cupcakes and oranges. The following table shows the prices and quantities of the goods over a three-year period. Cupcakes Oranges Price Quantity Price Quantity Year (Dollars per cupcake) (Number of cupcakes) (Dollars per orange) (Number of oranges) 2008 1 120 190 2009 160 4 200 2010 130 4 195 Use the information from the previous table to fill in the following table. GDP Real GDP Year (Dollars) (Base year 2008, dollars) 2008 2009 2010 From 2009 to 2010, GDP and real GDP Why is real GDP a more accurate measure of an economy's production than GDP? Real GDP includes the value of exports, but GDP does not. Real GDP does not include the value of intermediate goods and services, but GDP does. Real GDP is not influenced by price changes, but GDP is. 2. 3.arrow_forward2) Which of the following items are included in GDP? For those items not included, explain why they are not included in GDP. You buy newly issued shares of stock in Tektaş.com, Inc. You buy a new pair of gloves at a local shopping center. You have a hair cut at your hair salon. You buy an antique vase at a resale shop.arrow_forward
- Can these activities be considered part of GDP ? Please give your reason (s) 1. Mrs. Brown daily picks flowers in her garden. 2. John sells fruits in the market in town. 3. Two (2) were hurt in a car accident and were treated in their local hospital. 4. Pensioners do community work for free. 5. A garage buys spare tyres to sell them to customers next year. 6. If a Jamaica citizen works temporarily in St. Lucia. 7. A Barbadian owns a firm in Haiti. 8. The Maloney family grows all their vegetables to feed their family. 9. There is a shortage of imported Covid-19 vaccines and therefore it is being sold on the 'black market'. 10. Fred is frustrated of being unemployed, and therefore he starts his own marijuana farm and sell it on the 'black market'.arrow_forward1. Problems and Applications Q1 Indicate what components of GDP (if any) each of the following transactions would affect. Check all that apply. Transaction You buy a new Toshiba computer. Your parents buy a new house from a local builder. Dell sells a desktop computer from its inventory to the Johnson family. Honda expands its factory in Ohio. You pay a hairdresser for a haircut. Uncle Henry buys a new refrigerator from a domestic manufacturer. California hires workers to repave Highway 101. The federal government sends your grandmother a Social Security check. Consumption Investment DDD DOOLDO Government Purchases E COOC Net Exports OD DODO O 0arrow_forwardConsider a simple economy that produces two goods: beers and donuts. The following table shows the prices and quantities of the goods over a three-year period. Beers Donuts Price Quantity Price Quantity (Dollars per beer) (Number of beers) (Dollars per donut) (Number of donuts) 2 245 2 180 4 130 2 195 2 115 2 155 Use the information from the preceding table to fill in the following table. Year Nominal GDP Real GDP (Base Year 2016, dollars) GDP Deflator (Dollars) 2016 2017 2018 From 2017 to 2018, nominal GDP ________________, and real GDP __________ . The inflation rate in 2018 was ___________.arrow_forward
- 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 youarrow_forwardWhat components of GDP (if any) would each of the following transactions affect? (with the expenditure approach) a. Dodge sells a Neon from its inventory to someone in France. b. Uncle Frank buys a newly constructed house in Atlanta. c. A family goes to Great Clips to get their hair cut. d. Chicken purchased by a chef preparing Chicken Marsala for her customers. e. Oprah will only buy Columbian coffee. f. Home Depot expands some of its stores in the Chicagoland area. g. An extension of tollway I-355 built by the state of llinoisarrow_forwardWhich of the following are included in the year’s GDP? which are excluded? Explain your answers Coca-Cola builds a new bottling unit in the United states. Income of a tax accountant working for H&R block. The value of car batteries used in production of electric cars.arrow_forward
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