For an open economy: with no depreciation, GNP=GDP. imports are included in the calculation of GNP but not of GDP. more imports will, all the rest being constant, increase GNP. net international transfer payments are included in GNP but not in GDP.
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For an open economy:
with no
depreciation , GNP=GDP .imports are included in the calculation of GNP but not of GDP.
more imports will, all the rest being constant, increase GNP.
net international transfer payments are included in GNP but not in GDP.
Step by step
Solved in 2 steps
- National Saving - Investment = X - IM A country whose National Saving is greater than its Investment will experience a Trade deficit (IM > X) Balanced trade (IM – X) = 0 O Trade surplus (X > IM)Which of the following statements does not belong to the main benefits of foreign direct investment (FDI)? FDI creates new jobs and boosts government tax revenues. FDI creates positive knowledge spillovers. FDI brings competition and improves efficiency. FDI makes local firms more difficult to survive and thus destroys local jobs.Under a closed system, when net exports equals 0, what must be true about investment spending? A Investment Consumption B Investment = Savings (C) Investment = Government Spending D) Investment Government spending - taxes
- If the Gross Domestic Product (GDP) is calcuated at the current exchange rate and NOT adjusted for the purchasing power of a dollar in each country (PPP), which country from the below list has the world's highest GDP? Group of answer choices China United States Other Germany JapanQuestion 37 In the flow diagram representing an open economy, which of the following is TRUE? GNE plus imports are equal to GDP. GNE plus the trade balance (TB) are equal to GDP (total domestic production). GDP rises as GNI rises. GNE are always less than GDP.Consider a small open economy. Assume that GDP (Y) is 5000. Consumption (C) is given by the equation C = 1000 + 0.25(Y-T). Investment (I) is given by the equation I = 1500 – 50r, where r is the real interest rate in percentage points. The world interest rate is actually 5% (r*=5). Taxes (T) are 1000 and government spending (G) is 1500. Net exports are given by the equation NX=500-250Ɛ. Suppose T and G at their initial values (1000 and 1500). Suppose there is a shift in the global supply of funds, so that the new world interest rate becomes 3%. Compute the equilibrium real exchange rate. Represent the equilibrium graphically and interpret your result.
- Which of the following is correct? Exchange-rate-based measures of income per capita are identical to PPP-based measures. PPP rate-based measures of income are generated by the market. The gap between the income per capita of the U.S. and the income per capita of poorer countries is smaller when PPP-based measures are used. The gap between the income per capita of the U.S. and the income per capita of poorer countries is smaller when exchange rate-based measures are used. Suppose the GDP growth resulting from physical capital in an economy is 1%, and the growth resulting from human capital is 2%. If the annual growth rate of GDP is 5%, the growth resulting from technology equals: 1% 2% 3% 4% Net investment is equal to: The change in the stock of capital Gross investment plus depreciation Replacement investment The change in the capital stock plus depreciation. Which of the following is the most critical factor contributing to poverty reduction across the world?…What are the trends regarding foreign direct investment (FDI) in the world economy?Aggregate expenditure in an open economy equals a) C + I + G + S - M b) C + I + G + T - M c) C + I + G + (X - M) d) C + I + G + (M - X)
- If the total of a nation's imports are subtracted from the total of a nations exports, the result is: a Price Level One component of National Income GDP The rate of inflation none of theseInitially, there is a trade surplus in a small open economy with perfect capital mobility. Suppose an investment tax credit is introduced to give a tax advantage to any firm building a new factory or buying a new piece of equipment. Which of the following statement is correct? Net export will be positive. Net export will be zero. Net export will be negative. It does not provide sufficient information to conclude if net export will be positive, negative, or zero.Answer the question on the basis of the following information for a mixed open economy: C = 40 + .8Y I = 40 G = 40 EX =10 IM = 20 Refer to the above information. This nation is incurring: Group of answer choices a trade surplus. a trade deficit. unemployment. balance in its international trade.