MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
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Question
Chapter 5, Problem 6SQ
To determine
The highest contributing component of
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The largest component of GDP is
a.
private consumption expenditures
b.
private investment spending
c.
tax revenue
d.
government purchases of goods and services
e.
the nation's capital stock
GDP is
A. Market value of final goods and services produced B.Total value added of goods and services produced
C. Total Income within an economy or spending on total output produced
D. All of the above
Which of the following examples is counted in the calculation of GDP of the United States?
A. Sam's mom prepared dinner for the family.
B. An American company is producing cars in Mexico.
C. A Japanese company is producing bikes in New York.
D. Crystal retired to care for her aging mother.
Chapter 5 Solutions
MACROECONOMICS FOR TODAY
Ch. 5.6 - Prob. 1YTECh. 5 - Prob. 1SQPCh. 5 - Prob. 2SQPCh. 5 - Prob. 3SQPCh. 5 - Prob. 4SQPCh. 5 - Prob. 5SQPCh. 5 - Prob. 6SQPCh. 5 - Prob. 7SQPCh. 5 - Prob. 8SQPCh. 5 - Prob. 9SQP
Ch. 5 - Prob. 10SQPCh. 5 - Prob. 11SQPCh. 5 - Prob. 12SQPCh. 5 - Prob. 13SQPCh. 5 - Prob. 1SQCh. 5 - Prob. 2SQCh. 5 - Prob. 3SQCh. 5 - Prob. 4SQCh. 5 - Prob. 5SQCh. 5 - Prob. 6SQCh. 5 - Prob. 7SQCh. 5 - Prob. 8SQCh. 5 - Prob. 9SQCh. 5 - Prob. 10SQCh. 5 - Prob. 11SQCh. 5 - Prob. 12SQCh. 5 - Prob. 13SQCh. 5 - Prob. 14SQCh. 5 - Prob. 15SQCh. 5 - Prob. 16SQCh. 5 - Prob. 17SQCh. 5 - Prob. 18SQCh. 5 - Prob. 19SQCh. 5 - Prob. 20SQ
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Similar questions
- Value of the final goods and services produced in a given year valued at that year's prices A. Nominal GDP B. Real GDP C. Net Domestic Product D. Per Capita GDParrow_forwardWhich of the following would not be counted in the calculation of GDP? Select all that apply. A. purchasing a puppy from a farmer with a reputation for not paying taxes B. washing your clothes C. government spending on social security D. buying a brand new car E. paying for a chef to cook your meals F. paying for a flight to Las Vegasarrow_forwardGross domestic product (GDP) is defined as the: A. value of all final goods and services produced in a country during a period of time B. value of all final goods produced by a country’s resources that are in foreign countries during a period of time. C. value of all final goods that can be produced in a country by utilizing all resources during a period of time. D. value of the income earned by the owners of resources in a country during a period of time E. value of all intermediate goods and services produced in a country during a period of timearrow_forward
- What is the term for the total value of goods and services produced within a country's borders in a given year? A. Gross national product (GNP) B. Gross domestic product (GDP) C. Net exports D. Aggregate demandarrow_forwardGDP 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?arrow_forwardWhat is GDP (Gross Domestic Product), and how is it calculated?arrow_forward
- What are the four components of GDP?arrow_forwardValue of the final goods and services produced in a given year corrected for inflation in order to measure actual production A. Nominal GDP B. Real GDP C. Net Domestic Product D. Per capita GDParrow_forwardThe gross domestic product (GDP) is looking at the total production of goods and services that are produced within the United States' economy. Examine what the GDP has done in the past 5 years in the United States. Analyze if you were a manager of a retail store how you would utilize GDP to make decisions at your store.arrow_forward
- The measure to measure the value of the total final production in a country during a year is the gross domestic product. Which variables determine the gross domestic product? What are the two approaches that are used to measure gross domestic product?arrow_forwardA farmer grows a bushel of wheat and sells it to a miller for $1.00. The miller turns the wheat into flour and then sells the flour to a baker for $3.00. The baker uses the flour to make bread and sells the bread to an engineer for $6.00. The engineer eats the bread. What is the value added by each person? What is GDP?arrow_forwardGDP dose not value A Total income of everyone in the economy B Total expenditure on the economy output goods and services C non market activity such as child care. A parent provide his or her child home D revenuearrow_forward
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