Question

In: Economics

1) List one product or service you have purchased/paid for recently that would be included in...

1) List one product or service you have purchased/paid for recently that would be included in GDP. a) Which component (C, I, G, or NX) of GDP would it fall into?

2) List one product or service you have purchased/paid for recently that would NOT be included in GDP. a) Why wouldn’t it be included?

3) The participation of women in the U.S. labor force has risen dramatically since 1970. How do you think this rise affected GDP?

Solutions

Expert Solution

1. Recently I bought a mobile, which comes under consumption expenditure. Which is included under GDP. Because in the domestic time frame, only the final value of goods and services produced in 1 year is included in GDP.

2. I recently purchased a 1 second hand car, because it was produced 5 years ago and it has already been included in GDP, at the present time it has no relation with the production. Price will not be included in GDP.

3. GDP has increased over the recent few decades due to an increase in the contribution of women to the American Labor Participate force as the amount of production has also increased at a rapid pace as women have contributed in various fields. Such as 94% women in child development services, 90% women in health and staff 88% registered nurses and 89% women in housekeeping work, in addition women are also contributed to GDP through other indirect works. Which is not included in GDP like family labor i.e. domestic works are not included in GDP. Minister of women has greatly increased contributions and can even increase the setting by promoting actions of women in many areas and equality their contribution to GDP.


Related Solutions

In your initial post, identify a product or service that you recently purchased. Describe the steps...
In your initial post, identify a product or service that you recently purchased. Describe the steps you took during the consumer buying process and identify the factors that influenced your purchase decision. Respond Review the consumer purchase decisions of your peers and in your replies identify at least three (3) examples of business-to-business (B-2-B) transactions necessary to produce the end product. For example, if a student explained why they purchased a Nissan Altima you could describe the following business purchases:...
Marketing Management Please describe two products or services that you have purchased recently, one product or...
Marketing Management Please describe two products or services that you have purchased recently, one product or service that you feel represented good value for money, and one that did not. What adjustments to the pricing strategy would you recommend in relation to the product or service that failed to provide good value?
You have to decide on a product/service you would like to provide. State it at the...
You have to decide on a product/service you would like to provide. State it at the beginning of your essay. Go through the Appreciative Inquiry process and write up mission, vision, and values statement for this new company. Imagine you are a strategic leader who has to develop a mission, vision, and values statement of a NEW (imaginary) company. You will have to decide on a product or service that this new company would like to offer and clearly state...
Choose a product/service (this product or service can be an existing product or one you make...
Choose a product/service (this product or service can be an existing product or one you make up). Define the product to include value proposition, characteristics, and the nature of the product (consumer versus business product, and what type of product it represents) Identify the product’s position in the product line (if offered with other similar products) and, more broadly, the company’s overall product mix. Address the following: How would this product differ from other products in the product line (if...
Why would a customer buy a product or service from you? Pick a product or service...
Why would a customer buy a product or service from you? Pick a product or service that you currently offer, or would like to offer, and use this worksheet to brainstorm about aspects of your company, product, or service that would motivate a customer to choose you rather than a competitor." Awareness: Features and benefits: Price: Brand: Convenience: Word-of-mouth: Affiliation: Other:
Identify a good/service that you have recently purchased from a perfectly competitive firm, monopoly, monopolistically competitive...
Identify a good/service that you have recently purchased from a perfectly competitive firm, monopoly, monopolistically competitive firm, and oligopoly in the past month. Relate your answer to the market characteristics. Evaluate what market structure is better for a consumer and seller.
Identify one good service that you( or a friend or family member) have consumed recently. What...
Identify one good service that you( or a friend or family member) have consumed recently. What strategy was used to market the product or service to you? How could it be improved to increase sales? What strategies could the producer employ to maintain a positive relationship with you and other customers going forward?
Creation of a Product or Service 1. Mention what is the product or service that you...
Creation of a Product or Service 1. Mention what is the product or service that you are going to create for the project and why you selected. Selected Industry 2. Mention - of the industry to which the product or service belongs - the opportunities and threats from the external environment; the strengths and weaknesses of internal environment (SWOT analysis)
New Product Development Think of a new product you recently purchased or used, or an ad...
New Product Development Think of a new product you recently purchased or used, or an ad for a new product. Share with the class this new product idea; in addition to describing this new item indicate whether this new product is either additions to existing product lines or improvements or revisions of existing products. Do you believe your new product will be among the few new product ideas that are truly successful? Why or why not?
Provide an alternative product or service to the items your classmate purchased. For one item, it...
Provide an alternative product or service to the items your classmate purchased. For one item, it needs to be a complement and the other a substitute. State what that item is, and whether it is a complement or a substitute good. (e.g. Honda – I bought a Toyota, it is a substitute. Prescription drugs - complement). Also, give an estimate of the cross-price elasticity coefficient for your items (e.g. > 0, 0, or <0)
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT