Macroeconomics
13th Edition
ISBN: 9781337617390
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 7, Problem 4QP
To determine
Explain the activities of increase and decrease in
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Chapter 7 Solutions
Macroeconomics
Ch. 7.1 - Prob. 1STCh. 7.1 - Prob. 2STCh. 7.2 - Prob. 1STCh. 7.2 - Prob. 2STCh. 7.2 - Prob. 3STCh. 7.4 - Prob. 1STCh. 7.4 - Prob. 2STCh. 7.4 - Prob. 3STCh. 7 - Prob. 1QPCh. 7 - Prob. 2QP
Ch. 7 - Prob. 3QPCh. 7 - Prob. 4QPCh. 7 - Prob. 5QPCh. 7 - Prob. 6QPCh. 7 - Prob. 7QPCh. 7 - Prob. 8QPCh. 7 - Prob. 9QPCh. 7 - Prob. 10QPCh. 7 - Prob. 11QPCh. 7 - Prob. 12QPCh. 7 - Prob. 13QPCh. 7 - Prob. 14QPCh. 7 - Prob. 1WNGCh. 7 - Prob. 2WNGCh. 7 - Prob. 3WNGCh. 7 - Prob. 4WNGCh. 7 - Prob. 5WNGCh. 7 - Prob. 6WNGCh. 7 - Prob. 7WNGCh. 7 - Prob. 8WNGCh. 7 - Prob. 9WNGCh. 7 - Prob. 10WNGCh. 7 - Prob. 11WNG
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- As an economist with the World Bank you have been asked to measure the Gross Domestic Product for the US for 2019. You are told that the private consumption, gross domestic investment, government purchases and exports all add up to $ 24 trillion. You later learn that imports to the US in 2019 were $4 trillion. To get GDP, you should A. Ignore the $ 4 trillion because exports have already been included in the $ 24 trillion B. Add $ 4 trillion to $24 trillion because imports are used as inputs in the production of other goods in the US C. None of the above D. Subtract $4 trillion from $24 trillion because imports are not part of US domestic outputarrow_forwardBy How Much Will U.S. GDP Grow Next Year?arrow_forwardThis podcast is a little more straight history than the others we will listen, so there is less obvious discussion questions. But first, what about the history and evolution of GDP did you find most interesting or surprising in this Podcast. Here is the list of countries by GDP per capita and World Happiness Report rankings. Toward the end of the podcast they talk about how GDP has become a measure of quality of life, and maybe that is incorrect. Take a look at these rankings and decide for yourself if GDP is a good proxy for quality of life. What does GDP per capita leave out making it, perhaps, not a great proxy for quality of life. GDP per capita & WHR rankingsarrow_forward
- What else does GDP ignore?arrow_forwardIs it reasonable or does it make sense, that while US exports are added to GDP, US imports are subtracted from GDP?arrow_forwardCan you give two examples of goods or services that are in GDP and two examples of goods or services that are excluded in GDP.arrow_forward
- As you learned in the most recent chapter, GDP is the broadest measure of economic health in the U.S. Therefore, the discussion forum for the week will ask you to discuss GDP in your own words. Specifically, Business leaders, Government officials, and investors are often fixated on GDP results and economic growth. Why? What does it matter? The same level of interest is given to productivity. What is it and why does it matter in the scheme of things? What does GDP fail to tell us?arrow_forwardwhat have we learned from the recent changes in GDP so far this year in 2022?arrow_forwardWhy is the GDP important?arrow_forward
- which of the below statements about the U.S. GDP do you think is INCORRECT? Group of answer choices India has a GDP that is many times the size of the GDP of Israel. Yet, of the two, Israel is considered to be the richer economy because it has a higher per capita income. GDP may give us a measure of economic prosperity, but it is at best an imperfect measure, since it does not indicate the level of happiness, leisure, literacy, life expentancy, environmental preservation, or other such factors that may improve the quality of human life. China achieved its rapid rate of GDP growth in the 21st century with little, if any, environmental depletion or pollution.arrow_forwardWhat factors can lead to an increase in a country's Gross Domestic Product (GDP)?arrow_forwardWhat is real GDP ?arrow_forward
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