xplain the components of AD, and how it relates to the “Product Market” portion of the simple circular flow as presented in class. Differentiate the AD and product market from the perspective of the “Factor Market” and the income approach of measuring GDP

When using the income approach to measure GDP, what calculation must be done to convert GDP at factor costs to GDP at market prices?   The calculation is ______ to factor costs.     A. add a statistical discrepancy   B. add indirect taxes less subsidies   C. subtract indirect taxes less subsidies   D. subtract indirect taxes add subsidies

dit View History Bookmarks Window Help 99% C4 ezto.mheducation.com Assignments: Introduction to Macroeconomics [.. Question 1- Assignment 4 from Chapter 6 - Co... Nike.com Checkout ent 4 from Chapter 6 i Saved Help Sav Government survey takers determine that typical family expenditures each month in the year designated as the base year are as follows: · 25 pizzas, $10 each Apartment rent, $600 per month Gasoline and car maintenance, $100 per month 16 Phone service (basic service plus 10 long-distance calls), $50 per month In the year following the base year, the survey takers determine that pizzas have risen to $11 each, apartment rent is $700, gasoline and maintenance costs are $120, and phone service has dropped in price to $40. Instructions: Enter your responses by rounding the CPI to three decimal places and the rate of inflation to one decimal place. a. Find the CPI in the subsequent year and the rate of inflation between the base year and the subsequent year. CPI: Rate of…

Personal consumption expenditures $5,207 Interest 425 Corporate profits 735 Government spending 1,406 Depreciation 830 Rental income 146 Gross private domestic investment 1,116 Compensation of employees 4,426 Exports 870 Imports 965 Indirect business taxes 553 Proprietors' income 520 Personal taxes 886 Social Security taxes 432 Transfer payments 376   In Exhibit 15-7, disposable personal income (DI) is:   a. $5,127 billion.     b. $6,254 billion.     c. $6,495 billion.     d. $5,608 billion.

Question 2: Fill in the blanks. The three different approaches to measuring the GDP are the expenditure approach, the            approach, and the                approach. The expenditure approach aggregates the spending by the four sectors of the economy: (a) the household sector, (b) the              sector, (c) the              sector, and (d) the foreign sector, to yield the total GDP. The largest spending in Canada’s aggregate GDP comes from the                sector. When using the income approach, the first step is to calculate the total national income by adding employee compensation, proprietor’s income,                       , net interest, and rental income. There are six categories of economic exchanges that are omitted from GDP calculations. One such category is government transfer payments (like unemployment insurance payment), because it represents transfers of income without new production. Another category is                 , because because they are unpaid and not…

Explain how net exports affect the U.S. economy.Describe both positive and negative impacts onGDP. Why do national income accountants usenet exports to compute GDP, rather than simplyadding exports to the other expenditure componentsof GDP?

Which of the following form the basis of GDP calculated using the income approach?   Question 4 options:   depreciation, profit, investment, and interest   wages, rent, profit, and interest   wages, depreciation, profit, and consumption   Indirect taxes, consumption, rent, and wages   factor prices, profit, rent, and net capital

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.

the price index used to determine Real GDP is called the personal cunsumtion expenditures price index the real GDP price index the implicite price deflator 5 pts the consumer price index

Identify the components of the GDP formula (expenditure approach). Explain how the current COVID-19 pandemic will affect said components and therefore affect GDP (arc the components increasing/decreasing?). Lastly, why are these components affected? Example: Think about what is happening to households and firms and how it changes their relationship for cach other. What is the government doing and do you think it will be sufficient?