How would each of the following transactions affect the GDP of the United States (Increase, decrease, or does not change)? The U.S. government pays $1 billion in salaries for government workers. GDP will... The U.S. government pays $1 billion to Social Security recipients. GDP will... The U.S. government pays a U.S. firm $1 billion for newly produced airplane parts. GDP will... The U.S. government pays $1 billion in interest to holders of U.S. government bonds. GDP will...

According to the figure showing 2020 GDP for selected countries, how much larger (in percentage terms) is America's GDP than: 21.43 14.34 5.08 United China Japan States b. Russia? % larger Copyright © McGraw Hill LLC. Permission required for reproduction or display. GROSS DOMESTIC PRODUCT (in U.S. $ trillion) % larger 3.86 2.87 2.83 1.70 1.27 Germany India Great Britain Russia Mexico Source: Gross Domestic Product 2020. The World Bank Group, March 2021 0.53 Sweden Instructions: Round your responses to the nearest whole number. a. Germany? 0.21 Greece 0.01 Haiti

As an economist with the World Bank you have been asked to measure the Gross Domestic Product for the US for 2019. You are told that the private consumption, gross domestic investment, government purchases and exports all add up to $ 24 trillion.  You later learn that imports to the US in 2019 were $4 trillion. To get GDP, you should     A. Ignore the $ 4 trillion because exports have already been included in the $ 24 trillion   B. Add $ 4 trillion to $24 trillion because imports are used as inputs in the production of other goods in the US         C. None of the above     D. Subtract $4 trillion from $24 trillion because imports are not part of US domestic output

Classify each of the following as IN AFRICA's 2020 GDP or NOT IN AFRICA's 2020 GDP. Crude oil (used in the production of gasoline) produced in 2020:   IN AFRICA 2020 GDP NOT IN AFRICA 2020 GDP Oil produced by an AFRICA company in AFRICA in 2020 (and sold to consumers):   IN AFRICAs 2020 GDP NOT IN AFRICA 2020 GDP Oil produced by AFRICA-owned companies outside of AFRICA (and sold to consumers) in 2020:   IN AFRICA 2020 GDP NOT IN AFRICA 2020 GDP

Bob and Cho Tokarev live in Conshohocken, PA. Cho's father, Eric, lives in Sweden. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), Investment (1), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction The Federal Aviation Administration expands the runways at Philadelphia International Airport, which is just a few miles from Bob and Cho's house.. Cho gets a new video camera made in the United States. Cho buys a new BMW, which was assembled in Germany. Bob's employer upgrades all of its computer systems using U.S.-made parts. Cho's father in Sweden orders a bottle of Vermont maple syrup from the producer's website. C 3 000 I D G X M 000

Use the following table to answer the question below for an economy that has no government, no international trade or any association with other countries: Consumption (billions) Level of Output (billions) $240 $260 $280 $300 $320 $340 $360 $340 $380 $356 $400 $372 If gross investment is $4 billion, the equilibrium level of GDP (output) will be: a) $340 b) $280 Oc) $260 $244 $260 $276 $292 $308 $324 d) $360

A U.S. consumer buys a new Toyota vehicle (a Japanese company), which is manufactured at Toyota manufacturing facility using all U.S. made parts in San Antonio, TX. As a result, OU.S. consumption, U.S. GDP, and Japanese GDP are all unaffected. U.S. consumption and GDP increase, but Japanese GDP is unaffected U.S. consumption and Japanese GDP increase, but U.S. GDP is unaffected. OU.S. consumption, U.S. GDP, and Japanese GDP all increase.

Consider the table of GDP and population for several imaginary countries. GDP in millions of U.S. dollars 533.0 2275 Country Wrigleyville Longhornland Dinkytown $ 18.8 Using this information, please answer the questions. If there is not enough information to answer a question, please enter –11. A. What is the GDP per capita of Longhornland in U.S. dollars? Express your answer rounded to one decimal place. Population in millions GDP per capita in U.S. dollars 113.0 121 173.00 276800 1.600 B. What is the GDP of Dinkytown in millions of U.S. dollars? Express your answer rounded to one decimal place. Incorrect

Suppose that a farmer grows wheat, which she sells to a miller for $10. The miller turns the wheat into flour, which she sells to a baker for $55. The baker turns the wheat into bread, which she sells to consumers for $140. Consumers eat the bread. What is GDP in this economy? Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category Amount (in billions) Consumption 1700 Investment 700 Government Expenditure 100 Exports 50 Imports 40   Using the expenditure approach, calculate GDP for China.

Question 34 Which of the following would be not be included in the GDP of the U.S.? There is more than one correct answer to this question. You must mark all of the correct answers to receive full credit for this question. Your neighbor sells a bicyde that he purchased two years ago. O LG Chem (a Korean firm) makes batteries in the u.S. and sells them to General Motors (a U.S. firm) in the U.S. o Tesla (a U.S. firm) makes a car in China and sells it there. Honda (a Japanese firm) produces cars in the U.S. and sells them here. O Pízer (a U.S. company) makes a vaccine in Germany and sells it in Sweden. Question 35 Assume there is a reduced time preference to spend now. What change would be expected in the market for loanable funds? The supply of loanable funds would increase. O The demand for loanable funds would decrease. o The demand for loanable funds would increase. o The supply of loanable funds would decrease.