An example of a transfer payment is which is in GDP. O a paycheck for a member of the National Guard; not included O a food stamp benefit; included O a teacher's paycheck; included a social security check; not included
Q: State which of the following statement about GDP measurement is INCORREC ONLY THOSE THAT APPLY.…
A: Gross domestic product (GDP) refers to the total market value of final goods and services produced…
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A: Gross domestic product is a monetary measure of the market value of all the final goods and services…
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A: GDP DEFLATOR = NOMINAL GDPREAL GDP×100Inflation Rate = Gdp Deflatort - Gdp Deflatort-1Gdp…
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A: We will answer the first question since the exact one was not specified. Please submit a new…
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A: The entities in every economy get involved in various activities, such as consumption expenditures,…
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A: The expenditure method of GDP looks at the expenditure side of the economic activities. It is…
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A: GDP deflator = Nominal GDP / Real GDP * 100
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A: Gross domestic product (GDP) is the total monetary or market value of all the finished goods and…
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A: GDP stands for Gross Domestic Product which means the total of all value added created in the…
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A: The market value of all final goods and services produced in the economic territory of the country…
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A: The gross domestic product (GDP) of a country is a measure of its economic output.It includes all…
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A: since you have asked multiple questions and according to our policy we can only solve the question…
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A: The Gross Domestic Product (GDP) is the standard measure of value-added produced during a certain…
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A: Given:
Q: Which of the following is included in GDP? O The buying and selling of securities. O Government…
A: GDP is the sum of final economic goods and services produced in an economy within a year.
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A: If she marries one of her dancers, then, assuming her husband does not get paid anymore (and is…
Q: The following table contains information about an economy that produces only rice and beans. The…
A: GDP deflator is a measure of the level of prices of all new, domestically produced, final goods and…
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A: GDP stands for Gross domestic product which include value of goods and services produced within the…
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A: Gross domestic product of a country is the sum of money value of goods and services produced in a…
Q: QUESTION 12 In the expenditure approach to GDP, which of the following is excluded from measurements…
A: Introduction: Gross domestic product (GDP) is the total monetary or market worth of all completed…
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A: GDP can be calculated by adding up all of the money spent by consumers, businesses, and government…
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A: National Income is the aggregate earning of country's production in the current year which includes…
Q: Suppose an economy's production consists only of corn and soybeans. In 2010, 20 bushels of con are…
A: Formulas: Nominal GDP = Price of the goods in current year * Quantities of the goods in current year…
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A: Even while economists love to use GDP as a measure of output or even a measure of a country's…
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A: GDP includes value of final goods and services produced in the economy within a given period of time…
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A: GDP or Gross Domestic Product is the sum total of all goods and services that are produced in an…
Q: What do we mean by market income? Example
A: Financial economics refers to the branch of economics that analyzes the use and distribution of…
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A: Gross domestic product of a country is the sum total of money value of goods and services produced…
Q: Calculate GNP at MP if:- GDP at MP = $5500 Net factor income from abroad = $2200
A: The data presented in the question above:- GDP at MP = $5500 Net factor income from abroad = $2200…
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A: Actually in the simple words we can say that the goods are considered as the such as books and…
Q: Calculate GDP using the information in the table below: $Billion Durable goods 500 Nonresidential…
A: GDP is the value of final goods and services produced in the economy within a given period of time.
Q: In year one, real GDP is $4,500 and in year two real GDP is $4,800. What was the grawth rate of real…
A: Note: You have uploaded multiple questions at a time. Hence, we shall answer the first one for you.…
Q: Which of the following statements is true about GDP as a measure of a country's economic healt?…
A: GDP is the sum of the monetary value of goods and services produce within a country irrespective of…
Q: Each of the following activities represent a limitation to using GDP as an accurate measure of…
A: Gross domestic product measures the total value of goods and services produced by a nation in a…
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A: The Consumer Price Index (CPI) is a tool to measure Inflation. It is measured on the basis of the…
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Q: The relationship shown between the circular flow of goods and incomes is? a) Incomes and money b)…
A: Circular flow: The circular flow depicts the process that determines the national income and…
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A: Gross domestic product (GDP) measures the final value of all goods and services produced in an…
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A: GDP by expenditure aggregates the final expenditures done by business organizations, consumers,…
Q: Which of the following scenarios are either not accounted for or measured inaccurately by either the…
A: The GDP or the Gross Domestic Product refers to the value of all the final goods and services that…
Q: Calculate GDP using the information in the table below: SBillion Durable goods 500 Nonresidential…
A: GDP i.e Gross domestic product is sum of value of goods and services produced in a nation in a…
Q: Suppose that an economy consists of only two individuals. Trevor has $1310 available to spend on…
A: Given information Total income available =$1310 Economy income refers to the total income or the…
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A: Per capita income is the income of the country i.e., GDP divided by the population. This will give…
Q: 19. Real national income means: (a) national income at current prices (b) national income at factor…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: About the measurement of the GDP O A The profits of a firm are higher than the value added of the…
A: Option A is false because Value-added includes profit so this is not true. Option C is also…
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- When Percy Tau receives his salary for playing for Al Ahly SC in the Egyptian Premier League, which of the following is not true? O A. His salary is included in the NDP of Egypt but not the GDP. B. Net factor payments are decreasing in Egypt. C. His salary is included in the GNP of South Africa but not the GDP. D. His salary is included in the GDP of Egypt but not the GNP. Clear my choiceOne day, Barry the Barber, Inc., collects $400 for haircuts. $50 is the cost of operation, which includes utilities, shampoos, shaving cream, etc. Over the course of this day, his equipment depreciates by $20. Barry thinks $220 is what he could have earned working as a barber in other shops. Barry would owe the US government $30 in taxes based on this day’s income. Compute Barry’s contribution to the following measures of income on that day. (a) gross domestic product (b) national income (c) compensation for capital (d) disposable income1. A consumer has ·100 hours of time to allocate to either labor or leisure·A real wage w=50·Dividends income of 500·Taxes for 1500 It is feasible for the consumer to purchase 3000 unit of consumption.A. TrueB. False 2. A consumer has ·100 hours of time to allocate to either labor or leisure·A real wage w=30·Dividends income of 500·Taxes for 1500 It is feasible for the consumer to purchase 3000 unit of consumption.A. TrueB. False 3. Supose that·Total Factor Productivity increases·Capital depreciates by 10%Everything else equal, what happens to labor demand in the economy?A. It decreases (i.e. shifts to the left of the demand curve)B. It increases (i.e. shifts to the right of the demand curve)C. Not enough information to answer 4. Supose that·Total Factor Productivity decreases by 10%·Capital depreciates by 10%Everything else equal, what happens to labor demand in the economy?A. It decreases (i.e. shifts to the left of the demand curve)B. It increases (i.e. shifts to the right of…
- B. Calculate the equiibrium level of incomeDiscuss wether all firms in a country will welcome a change in people’s income.Final income 45° Original Income Figure 6: Welfare policy diagram Towards the right of Figure 6 are two circular red markers with a line between them that you can use to draw a line on Figure 6. You can move the markers with the mouse by clicking on them and dragging. Alternatively, you can tab to each marker and then use the keyboard arrow keys. In Figure 6 the solid blue line shows how a tax and benefit system translates original income into final income. Position the red markers, one on each vertical axis, on Figure 6 to show the effect of: A change that raises the final incomes of the poorest households, but doesn't raise total spending. #t h
- Final income 45° Original Income Figure 6: Welfare policy diagram Towards the right of Figure 6 are two circular red markers with a line between them that you can use to draw a line on Figure 6. You can move the markers with the mouse by clicking on them and dragging. Alternatively, you can tab to each marker and then use the keyboard arrow keys. In Figure 6 the solid blue line shows how a tax and benefit system translates original income into final income. Position the red markers, one on each vertical axis, on Figure 6 to show the effect of: A change that raises the final incomes of the poorest households, but doesn't raise total spending.Two years ago, Adrienne and William earned $90,450 and paid $10,854 in income tax. Last year, the couple earned $97,770 and paid $15,632 In Income tax. a. Which of the following statements is true regarding the tax payments? O The actual tax payment was higher last year and the couple's disposable income was smaller. O Both the actual tax payment and the tax rate were higher last year than in the previous year. The actual tax payment was higher last year, but the tax rates were the same. O The actual tax payment was higher last year, but the tax rates cannot be computed without more Information. b. This example illustrates O the stabilizing properties of the U.S. tax system. O increased Income requires new tax policy to prevent Inflation. O households with higher income pay a smaller percentage of their Income in taxes. O taxes are too high.One day, Barry the Barber, Inc., collects $400 forhaircuts. Over this day, his equipment depreciates invalue by $50. Of the remaining $350, Barry sends $30to the government in sales taxes, takes home $220 inwages, and retains $100 in his business to add newequipment in the future. From the $220 that Barrytakes home, he pays $70 in income taxes. Based onthis information, compute Barry’s contribution to thefollowing measures of income.a. gross domestic productb. net national productc. national incomed. personal incomee. disposable personal income
- t% D15, transfer payment = 50, capital consumption = 10, indirect taxes 5, dire Wages 100, rent = 10, interest income 20, profit= 30, proprietor's income 5, govenments Examine the following figures: %3D %D interest payment taxes = 18. Calculate a. national income b. NDP c. GDPQUESTION 5 One criticism of GDP as a measure of welfare is that it fails to account for reductions in leisure time O True O FalseThe United States has established a progressive income tax system, where a worker’s tax rate onearnings increases as she earns more money. There are 168 hours in a given week. Assume thatfor the first 56 hours worked, the tax rate is t1, which means that the net real wage is w*(1-t1).After working the 56th hour, the worker jumps to a higher tax rate t2. After the 112th hourworked, the individual jumps to an even higher tax rate, t3.(a) During most election years, some politicians argue that a having a flat tax system isbetter. Assume that there is a proposal to institute a flat tax, where all workers pay a taxrate equal to t4, which is greater than t3. On the same set of axes, graph the budgetconstraints associated with the progressive tax system and the flat tax system. Make sureto label all of the slopes.(b) Would moving to this proposed flat tax system likely encourage more or fewer hoursworked for relatively high-wage workers? Make sure to explain your answer (a writtenexplanation…
