a) What is double counting problem? How can it be solved? b) Describe the two sector,...

a) What is double counting problem? How can it be solved?

b) Describe the two sector, three sector and four sector circular flow of GDP.

Expert Solution

PART - B

In two sector economy there is - Firms, Households and Banks.

Households provide Factors of production like land,labor,entrepreneur etc. to firms and in consume the goods and services produced by the firms.

Firms- They Provide the services to households and pay the factor income to the households in form of wages,rent, interest, profits.

Banks - They provide loans to both firms and households and provide the services.

Three- Sector Economy:-

Role of households and firms remains same. In this government is also involved.

Households and Firms pays taxes to government and Government purchase goods and services from firms and provids various facilities to households in return.

Four sector economy:-

All the things remains same as three sector economy. In this Rest of the world is also added.

Households purchase goods and services of foreign, known as imports and Firms sales their Goods and services to rest of the world known as Imports.

Rahul Sunny answered 1 year ago

public finance What is free rider problem and how can it be solved. Discuss.

4. One danger for the statisticians who calculate GDP is to avoid the mistake of double counting "double counting" and describe why it may be dangerous.

4. One danger for the statisticians who calculate GDP is to avoid the mistake of double counting "double counting" and describe why it may be dangerous. 5. When comparing the GDP of different countries, two issues immediately arise. What are these issues and how does one account for these while comparing the GDP for different countries? 6. List and describe the components of Gross Domestic Product on the demand side. Be sure to account for the relative size of each component within...

Provide a solution to this problem. Any ideas on how it can be solved. Comprehensive problem...

Provide a solution to this problem. Any ideas on how it can be solved. Comprehensive problem (discussion board): • Current Accounts – 2009: CA = $4,400; CL = $1,500 – 2008: CA = $3,500; CL = $1,200 • Fixed Assets and Depreciation – 2009: NFA = $3,400; 2008: NFA = $3,100 – Depreciation Expense = $400 • Long-term Debt and Equity – 2009: LTD = $4,000; Common stock = $500 – 2008: LTD = $3,950; Common stock = $400 • Income Statement – EBIT = $2,000; Taxes = $300 – Interest Expense...

Answer the following: a) What is a critical region? b) How can counting semaphores be used...

Answer the following: a) What is a critical region? b) How can counting semaphores be used to provide exclusive access to a critical region? c) Describe the operation (clearly, in English) of the semWait and semSignal actions of a counting semaphore.

Describe a problem that can be solved by using the shortest-route model. Give a detailed mathematical...

Describe a problem that can be solved by using the shortest-route model. Give a detailed mathematical example.

Not all externality problems can be solved by the private sector. True or False? Explain your...

Not all externality problems can be solved by the private sector. True or False? Explain your answer making reference to the Coase Theorem.

Consult Interactive Solution 21.51 to see how this problem can be solved. A coil rotating perpendicularly...

Consult Interactive Solution 21.51 to see how this problem can be solved. A coil rotating perpendicularly to a uniform magnetic field contains 340 turns and has an area per turn of 3.0 × 10-3 m2. The magnetic field is 0.18 T, and the current in the coil is 0.15 A. A brake shoe is pressed perpendicularly against the shaft to keep the coil from turning. The coefficient of static friction between the shaft and the brake shoe is 0.79. The...

The following two questions can be solved by dynamic programming. For each question, please describe optimal...

The following two questions can be solved by dynamic programming. For each question, please describe optimal substructure and express recurrence relation. Give pseudo-code and analyze time and space complexity of your algorithm. 1. Longest palindrome subsequence A palindrome is a nonempty string over some alphabet that reads the same forward and backward. Examples of palindromes are all strings of length 1, “civic”, “racecar”, and “aibohphobia” (fear of palindromes). Design a dynamic programming algorithm to find the longest palindrome that is...

Spending at All Levels of Government How much is spent, (not double counting the transfers from...

Spending at All Levels of Government How much is spent, (not double counting the transfers from the federal government to state and local governments), by ALL levels of US government right now (2019 FY or 2018 full-year OK to report)? On a per capita basis, how much is this? Compare this amount of spending per person with the overall GDP per person of countries with GDP per person near those levels. As a share of GDP, how much is this?

How could an assignment problem be solved using the transportation approach? What condition will make the...

How could an assignment problem be solved using the transportation approach? What condition will make the solution to this problem difficult? Please give a typed answer and focus on the second part of the question.

Question