47. Exclude the method that is not used for determining GDP. 1. Method income 2. The method of value added 3. A method for costs за 4. midpoint Method
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- Total consumer expenditure 400,000 Government spending 148,000 Gross domestic capital formation 160,000 Value of physical income in stock 8,000 Export of goods. 72,000 Import of goods 68,520 Subsidies 5,560 Taxes on expenditure 6,960 Capital consumption 22,000 Income from abroad 51,600 Income paid abroad 29,600 From the following data country X, you are required to calculate: 1. GDP at factor cost 2. GNP at factor cost 3. NNPThe measure to measure the value of the total final production in a country during a year is the gross domestic product. answer with more than 5 sentences Which variables determine the gross domestic product? What are the two approaches that are used to measure gross domestic product?U.S Economy 2020 Investment Expenditure $ 2160 Personal Consumption $ 1390 Net Export $809 Nationals abroad $ 250 Government Purchases $4755 Depreciation $445 Foreigners Income (at home) $ 180 Wages and Salaries $ 358 Rent $ 272 1. Using the Expenditure approach model calculate. 1. Gross Domestic Product (GDP) 2. Gross National Product (GNP) 3. Net National Product (NNP) 2. Distinguish between nominal GDP and real GDP
- d) The total government spending in a country 2. Which of the following is NOT included in the calculation of GDP? a) Investment spending b) Government spending c) Transfer payments d) Consumer spending 3. Which appro to calculating GDP measures the value of all final goodsThe measure to measure the value of the total final production in a country during a year is the gross domestic product. Which variables determine the gross domestic product? What are the two approaches that are used to measure gross domestic product?Explain why does production measure of GDP give the same results as the income method of GDP.
- COMPONENT R millions Consumption expenditure (C) 9 000 Investment (I) 6 500 Government spending (G) 7 000 Exports (X) 1 800 Imports (Z) 2 400 Depreciation 700 Foreign payment to the rest of theworld 300 Foreign payment from the rest of the world 250 Q1. Determine the value of the country’s NNI (Net National Income) atmarket price. Q2. If it is predicted that the GDP will increase to 22 000 in 2020,calculate the growth rate between 2019 and 2020.Transfer payments are not included in GDP calculation because these are OA. no different from income tax payments. B. income received, but not as payments for providing current goods and services. C. income from foreign countries that is transferred to the U.S. OD. payments received from an employer as a reimbursement for moving expenses.Gross domestic product is a measure of _______.the nonmarket production of goods and services.the volume of goods and services, which involved in international tradethe goods and services produced strictly by corporations.the money value of all final goods and services produced in a year by the economy.the size of the largest industry in an economy.
- a) Give the definition of GDP and explain what items are not included in its calculation?A) Write the formula for GDP (expenditure), and explain in detail eachvariable. Be sure to include types of goods/services that go into each category. B) Why are goods and services counted in GDP at market value?Are there any disadvantages or problems in using market values to measureproduction?1-While calculating GDP, goods and services that are produced and sold illegally and items that are produced and consumed at home are not included because __________ Select one: a. government wants to discourage these production and consumption b. it does not contribute much value to GDP c. these goods and services does not pay taxes d. measuring them is so difficult Clear my choice 2- Country A has a population of 1,000, of whom 700 worked an average of 8 hours a day and had a productivity of 2.5. Country B has a population of 800, of whom 560 worked 8 hours a day and had productivity of 3.0. The country with the higher real GDP is country B. Select one: a. True b. False Clear my choice
