Question

In: Economics

4. Consider each of the following activities separately, how much does it contribute to US GDP?...

4. Consider each of the following activities separately, how much does it contribute to US GDP?

(a) Company X in the US bought steel from another US company, which costs $50,000. Company X used the steel to make cars, and sold them for $150,000 this year.

(b) Your kid mows the lawn for your neighbor, and your neighbor gives him $50 for his work.

(c) This year, you sold your house for $500,000, which was built 100 years ago. Your agent charges you $10,000 for the agent services.

(d) Your mom gave you $1,000 for your birthday. You put $500 in your savings account.

Solutions

Expert Solution


Related Solutions

To which component of the US GDP expenditure does each of the following belong to? (C,...
To which component of the US GDP expenditure does each of the following belong to? (C, I, G, NX, or none of the four) (a) gambling services provided to tourists by Las Vegas casinos b) a new tractor purchased by a farmer (c) the purchase of a used couch on Craigslist (d) a machine made in the US and sold to Japan. e) the purchase of a lottery ticket. (f) a new car made in the US but not yet...
4. Explain the GDP multiplier and how it works. How much of the negative GDP gap...
4. Explain the GDP multiplier and how it works. How much of the negative GDP gap which existed in 2009 was closed by the almost 800B$ increase in G? What was the actual multiplier? Were the tax dollars well spent for the economic recovery? Why or why not?
Identify the effect of each of the following circumstances on US GDP and on the components of GDP?
Identify the effect of each of the following circumstances on US GDP and on the components of GDP? a. Ann purchases a Ford tractor to be used on the farm  b. Reed receives a social security check  c. Amit purchases a shirt which is made in India  d. The US Navy send their troops to work overseas. 
What are the 4 evolutionary processes? Describe them, how does each contribute, and which dominate and...
What are the 4 evolutionary processes? Describe them, how does each contribute, and which dominate and under what circumstances? In essay format please! :)
Determine whether or not each of the following activities is included in GDP. If you say...
Determine whether or not each of the following activities is included in GDP. If you say “included”, identify which expd. component of GDP it would fall under. If you say “not included”, explain why not. The government sends out social-security checks to some households. In the spring, some people repaint their own homes. Traders in financial markets trade millions of dollars’ worth of stocks & bonds. Financial brokers earn millions of dollars of fees every year.
Run the following RISC-V codes separately and explain what each code does and how you interpret...
Run the following RISC-V codes separately and explain what each code does and how you interpret the register results: Code 1. addi x3, x3, 1 slli x3, x3, 62 addi x4, x4, 7 mul x5, x4, x3 mulh x6, x4, x3 Code 2. addi x3, x3, 1 slli x3, x3, 63 addi x4, x4, 1 mul x5, x4, x3 mulhsu x6, x4, x3 Code 3. addi x3, x3, 1 slli x3, x3, 63 addi x4, x4, 1 mul x5, x4,...
Which of the following events/activities would be included in this year’s GDP? Explain briefly in each...
Which of the following events/activities would be included in this year’s GDP? Explain briefly in each case where does it show up both of the expenditure side and on the income side. (c) You prune the trees of your front yard. (d) You hire a tree service to prune the trees in your front yard. (f) An American graduate student grades your homework (grading assistants are ASU employees).
4- Measured in current US dollars China’s GDP is smaller than that of the US; but...
4- Measured in current US dollars China’s GDP is smaller than that of the US; but the total investment expenditures in China, measured in US dollars, is much higher in China. Why is that?
How much is the overall GDP contribution of the uber ? Which part of the GDP...
How much is the overall GDP contribution of the uber ? Which part of the GDP does the event affect (C, I, G or NX)? Explain the expected effects on GDP (whether increase or decrease). Will the event increase or decrease unemployment? Discuss the impact on the economy. {regarding uber
In each of the following scenarios, calculate the total increase in US GDP this year caused...
In each of the following scenarios, calculate the total increase in US GDP this year caused directly by the given information An individual purchases an old used car from their friend for $6,000. They buy a new engine for the car for $1,000, replace the brakes for $500, and paint it for $200. They then sell the car for $10,000 A computer manufacturer in the US buys parts for its computer from Japan. The cost of these parts is $500....
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT