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Hannah Angelini
IB 505 Dr. Petsas 7 January 2024 Week 1 Assignment Marketplace: North America Countries: United States, Mexico, Canada, and Guatemala
Total population
a.
United States: 335 million
b.
Mexico: 130 million
c.
Canada: 38 million
d.
Guatemala: 18 million
Data found from https://www.census.gov/popclock/world
Total area
Country
Total Area
(in km
2
)
United States
9,518,644
Mexico
1,964,375
Canada
9,984,670
Guatemala
108,889
Data found from https://www.geeksforgeeks.org/list-of-countries-in-north-america-by-area-
population-and-gdp/
Economic Values
Unites States (values from 2022)
GDP (in US$)
25,439,700,000,000.00
GDP per capita (in US$)
76,329.58
GDP per capita growth (annual %)
1.55
Population growth (annual %)
0.38
Data found from https://databank.worldbank.org/source/world-development-indicators
Mexico (values from 2022)
GDP (in US$)
1,465,854,089,286.47
GDP per capita (in US$)
11,496.52
GDP per capita growth (annual %)
3.25
Population growth (annual %)
0.63
Data found from https://databank.worldbank.org/source/world-development-indicators
United States
Mexico
Canada
Guatemala
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
Area of North America Marketplace Countries
Total Area (in km2)
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The table below is extracted from Khada Republic, Bureau of Statistics records for 2019-2020. Use the information in this table to answer the questions that follow.
Item
Base year 2019
2020
Production
Price
Production
Price
Used cloth (units)
4,000
50.00
5000
60.00
Components used tractor factory production
8,000
500.00
11000
1,200.00
Cloth
8,000
25.00
12,000
30.00
Beef gifts during cultural festival
1,500
2.00
1,700
3.00
Milk litres
5,000
1.30
7,000
2.50
Computers
2000
500.00
2,500
600.00
Printers
500
300.00
400
355.00
Raw materials for car assembling plant
4500
250.00
4450
300
Calculate Khada Republic’s nominal GDP, real GDP in 2020 and GDP deflator
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The table below is extracted from Khada Republic, Bureau of Statistics records for 2019-2020. Use the information in this table to answer the questions that follow.
Item
Base year 2019
2020
Production
Price
Production
Price
Used cloth (units)
4,000
50.00
5000
60.00
Components used tractor factory production
8,000
500.00
11000
1,200.00
Cloth
8,000
25.00
12,000
30.00
Beef gifts during cultural festival
1,500
2.00
1,700
3.00
Milk litres
5,000
1.30
7,000
2.50
Computers
2000
500.00
2,500
600.00
Printers
500
300.00
400
355.00
Raw materials for car assembling plant
4500
250.00
4450
i. Calculate Khada Republic’s nominal GDP, real GDP in 2020 and GDP deflator
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The table below is extracted from Khada Republic, Bureau of Statistics records for 2019-2020. Use the information in this table to answer the questions that follow.
Item
Base year 2019
2020
Production
Price
Production
Price
Used cloth (units)
4,000
50.00
5000
60.00
Components used tractor factory production
8,000
500.00
11000
1,200.00
Cloth
8,000
25.00
12,000
30.00
Beef gifts during cultural festival
1,500
2.00
1,700
3.00
Milk litres
5,000
1.30
7,000
2.50
Computers
2000
500.00
2,500
600.00
Printers
500
300.00
400
355.00
Raw materials for car assembling plant
4500
250.00
4450
300
Calculate Khada Republic’s nominal GDP, real GDP in 2020 and GDP deflator
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Question 1 (AV7.1)
You have been employed as the chief economist for the economy SKL Land. The head statistician has provided you with the following information:
Compensation of Employees 900
Consumption of goods 850
Corporate profits 400
Rent Income 125
Factor income paid to the world 325
Consumption of services 475
Factor Income received from the world 170
Residential investments 350
Indirect taxes 775
Non-residential investments 525
Subsidies 125
Government Expenditure 925
Depreciation 120
Imports 700
Net interest 75
Exports 300
Proprietors income 300
Calculate SKL Land’s GDP using (1) the Income and (2) the Expenditure Approach
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3b) explain the method of collecting data and information
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-explain the census method (kaedah banci)
-explain the survey method
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Who earns money and spends their income on goods and services
Select one:
a. Households
b. Businesses
c. markets
d. Firms
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Commodities
PRICE
Weights
2018
2020
A
200
400
50
B
200
350
40
C
100
150
65
D
80
120
45
E
60
180
20
F
90
157.5
60
G
300
585
100
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2020
2021
Items
Price (Kshs/Kg)
Quantity (Kg,000)
Price (Kshs/Kg)
Quantity (Kg,000)
Pineapples(A)
10
6
14
8
Oranges(B)
10
8
15
14
Bananas(C)
15
8
20
16
Beans(D)
30
12
25
20
Wheat(E)
40
15
60
21
Millet(F)
50
10
80
16
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987,156 Currently Working
23,000 volunteer workers
9845 (ages 13-14) looking for work
12,000 (ages 15) looking for work
45,600 Part-Time workers
56 family workers who worked 15 hours a week
234 Self-Employed
6543 discouraged workers
67,432 (ages 23-25) looking for work
67,890 laid off receptionists looking for work
544,321 (ages 16-20) looking for work
Current population is 6,000,000
5654 Temp Workers
5000 armed forces
543 recent university graduates that are going back to graduate school
3500 institutionalized
(i) The number of persons employed.
(ii) The number of persons unemployed.
(iii) The labour force.
(iv) The Labour Force Participation rate.
(v) The “official” unemployment rate.
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Region
Predicted Population (millions)
2035
2050
World
8,933
(l) 9766
India
(m) 1,655.7
1670.1
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$ Billions
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2,799.8
Depreciation
481.6
Exports
376.2
Gross private domestic investment
671.0
Indirect taxes
331.4
Government purchases
869.7
Government transfer payments
947.8
Imports
481.7
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India
Pakistan
United States
Canada
Russia
Brazil
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Colombia
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Consumption of goods 850
Corporate profits 400
Rent Income 125
Factor income paid to the world 325
Consumption of services 475
Factor Income received from the world 170
Residential investments 350
Indirect taxes 775
Non-residential investments 525
Subsidies 125
Government Expenditure 925
Depreciation 120
Imports 700
Net interest 75
Exports 300
Proprietors income 300
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(2) the Expenditure Approach
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Article
Price
2003
Amount
2003
Price
2006
Amount
2006
nails
(dozen)
$2.49
6
$2.69
6
wire(kg)
$3.29
4
$3.59
5
wire rod(kg)
$1.59
2
$1.79
3
rings(pzas)
$1.79
3
$2.29
4
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Year
GDP (billions in U.S. $)
Population (millions)
Estonido
2017
525.50
73
Galicia
1,658.00
118.25
Estonido
2018
721.75
78
Galicia
1,724.30
121.8
(a) $925 for Estonido and $1,412 for Galicia in 2017.
(b) $9,253 for Estonido and $14,157 for Galicia in 2017.
(c) $7,199 for Estonido and $14,021 for Galicia in 2017.
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(b) government transfer payments.
(c) savings.
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(b) the value of the production per hour worked has to increase.
(c) the total production or output has to increase.
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Compensation of Employees
900
Corporate profits 400
Factor income paid to the world 325
Factor Income received from the world
170
Indirect taxes 775
Subsidies 125
Depreciation 120
Consumption of goods 850
Net interest 75
Rent Income 125
Consumption of services 475
Residential investments 350
Non-residential investments
525
Government Expenditure 925
Imports 700
Exports 300
Proprietor’s income 300
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