Question
In: Economics
consumption- $330,000 government purchases- $200,000 exports- $110,000 investment- $150,000 imports- $60,000 population- 50 people accordingly, use...
consumption- $330,000
government purchases- $200,000
exports- $110,000
investment- $150,000
imports- $60,000
population- 50 people
accordingly, use the expenditure approach, real GDP
per capita is?
a. less than $10,000 per person
b. between $10,000 per person and $13,000 per person
c. between $13,000 per person and $16,000 per person
d. between $16,000 per person and $19,000 per person
e. greater than $19,000 per person
Solutions
Expert Solution
Answer :
In case of expenditure approach, GDP is the sum of Consumption(C), Investment(I), Government purchase(G) and net exports{NX, (Export - Imports)} . Therefore,
GDP = C+I+G+(NX),
GDP = 330,000+150,000+200,000+(110,000-60,000)
GDP = $680,000 + $50,000 = $730,000
GDP = $730,000
GDP per capita = GDP/Population
GDP per capita = $730,000/50 people
GDP per capita = $14,600/people
Rahul Sunny answered 2 years agoRelated Solutions
Consider a country with consumption expenditures, private investment expenditures, government purchases, imports, and exports as summarized...
Consider a country with consumption expenditures, private
investment expenditures, government purchases, imports, and exports
as summarized in the table below (each measured in millions of
dollars):
Consumption expenditures
Investment expenditures
Government purchases
Imports
Exports
$797
$112
$235
$86
$104
For this country, “Gross Domestic Product (GDP) ” is equal to
Question 20 options:
1)
$18 million
2)
$234 million
3)
$1,334 million
4)
$1,162 million
Components of GDP: Consumption, Investment, Government purchases, Net Exports What components of GDP (if any) would...
Components of GDP: Consumption, Investment, Government
purchases, Net Exports
What components of GDP (if any) would each of the
following transactions affect? Explain. Copy and paste your answers
below.
1. A family buys a new refrigerator.
2. Aunt Jane buys a new house.
3. Ford sells a mustang from its inventory.
4. You buy a pizza.
5. California repaves Highway 101.
6. Your parents buy a French bottle of
wine.
7. Honda expands its factory in Marysville,
Ohio.
8. I...
Category Billions of dollars Consumption 400 Investment 150 Government spending 80 Exports 210 Imports 60 Foreign...
Category
Billions of dollars
Consumption
400
Investment
150
Government spending
80
Exports
210
Imports
60
Foreign income payments to domestic factors
20
Domestic income payments to foreign factors
10
Net unilateral transfers
5
[2 points each] Using the hypothetical
U.S. national income and product accounts data from the above
table, answer the following:
Calculate GNE.
Calculate the trade balance.
Calculate GDP.
Calculate net factor income from abroad.
Calculate GNI.
Calculate the value of current account.
Calculate GNDI.
Calculate national savings...
Category Billions of dollars Consumption 400 Investment 150 Government spending 80 Exports 210 Imports 60 Foreign...
Category
Billions of dollars
Consumption
400
Investment
150
Government spending
80
Exports
210
Imports
60
Foreign income payments to domestic factors
20
Domestic income payments to foreign factors
10
Net unilateral transfers
5
Using the hypothetical U.S. national income and product
accounts data from the above table, answer the following: (Please
show all calculations and formulas used)
Calculate GNE.
Calculate the trade balance.
Calculate GDP.
Calculate net factor income from abroad.
Calculate GNI.
Calculate the value of current account.
Calculate...
Aggregate expenditure equals: A) Consumption + Investment + Government purchases + Transfers B) Consumption + Investment...
Aggregate expenditure equals:
A) Consumption + Investment + Government purchases +
Transfers
B) Consumption + Investment + Government purchases + Net
exports
C) Consumption + Investment + Federal government purchases +
Exports
D) Consumption + Government purchases – Net exports
As the real interest rate rises:
I. consumption rises.
II. net exports fall.
III. investment rises.
A) II only
B) I only
C) I and III
D) III only
When the real interest rate rises in the United States, there...
explain how the government can cause consumption, government spending, investment, and exports to increase and thus...
explain how the government can cause consumption, government
spending, investment, and exports to increase and thus stimulate
GDP and improve the economy.
Suppose that consumption is 200, Government spending is 100, Investment is 100. Moreover, suppose that exports...
Suppose that consumption is 200, Government spending is 100,
Investment is 100. Moreover, suppose that exports are equal to 50
while imports are 150.
(a) What is the value of the current account? Does this country
have a current account deÖcit or surplus?
(b) What is the GNP of this economy?
(c) What is the value of national saving? (d) Suppose that taxes
are equal to 50. Calculate the private saving and the government
budget deÖcit
Red Hawk Woods spent $400,000 in consumption, $200,000 in gross investment, $100,000 in government goods and...
Red Hawk Woods spent $400,000 in consumption, $200,000 in gross
investment, $100,000 in government goods and services, $100,000 in
exports, and $250,000 in imports
What is the GDP of Red Hawk Woods?
If the population in Red Hawk Woods is 3,000, what is GDP per
capita?
Good
Price 2011
Quantity 2011
Price 2012
Quantity 2012
Shampoo
$8
1000
$10
1500
Conditioner
$7
5000
$8
6000
Use the table above for Hairy Island to answer the following
questions.
What was nominal...
Using the Spending Approach, determine whether each of the following is Consumption, Investment, Government Purchases, Net...
Using the Spending Approach, determine whether each of the
following is Consumption, Investment, Government Purchases, Net
Exports, or not included in GDP, and briefly explain why.
(a) A yoga studio purchases new yoga mats and straps.
(b) An individual purchases a new yoga mat and straps for their
home practice.
(c) Someone receives a stimulus check from the government in the
mail during COVID-19.
(d) A public high school purchases new textbooks for its
students.
(e) A campus bookstore increases...
An economy has full-employment output of 6000. Government purchases are 1680. Desired consumption and desired investment...
An economy has full-employment output of 6000. Government
purchases are 1680. Desired consumption
and desired investment is given by
?? ? Cd= 3000-1500?+0.2?
?? ? Id= 500-3250?
where Y is output and r is the real interest rate.
a. (5 Points)What is the real interest rate that clears the
goods market? Assume that output equals full employment
output.
b. (3 Points) Compute the amount of saving, investment and
consumption in equilibrium.
c. (4 Points) What would happen to the equilibrium...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- . Use the following information to calculate your company's expected return State Probability Return Boom 20%...
- You are considering the following two projects and can only take one. Your cost of capital...
- C++: Write a program that produces truth tables for the following compound propositions. Write the header...
- 1. What is the historical role of investment bankers ? Has this role changed ? Why...
- How were the original Internet requirements met through its design? What are the two main requirements...
- discuss crowdfunding on platforms: What features of the services incorporate virality? What are some of the...
- A textbook of mass 2.08 kg rests on a frictionless, horizontal surface. A cord attached to...
ADVERTISEMENT