The value of production by an American working in Singapore c. The value of production by a Singaporean that crosses the border to work in Malaysia. A. a.Purchase of a used car. An American company operates a fast food restaurant in Paris, France. The private consumption expenditures category is the largest, and accounts for approximately two-thirds of the GDP. A category of the GDP is private consumption expenditures. d. All of the above are correct. a. b.Purchase of 100 shares of General Motors stock. Gross Domestic Product is officially measured by adding together theB: market value of all final goods and services produced within the borders of a nationWhich of the following items is included in the calculation of GDP?D: None of the Above Included in the calculation of GDP are: personal consumption expenditures (C), Gross Private Domestic Investment (I), Government Consumption Expenditures and Gross Investment (G), and Net Exports (X-M) C+I+G+(X-M)Which of the following expenditures would not be included in GDP?B: Purchase of a silver cup previously sold new in 1950C: the cleaning-up expenses associated with pollutionThe circular flow of economic activity is a model of theA: flow of goods, resources, payments, and expenditures between the sectors of a economyAll final goods and services that make up GDP can be expressed in the formThe expenditure approach for the calculation of GDP includes spending onC: consumption, gross private domestic investment, government spending for goods and services, and net exportsNational income (NI) is calculated by adjusting GDP forWhich of the following is included in personal income but not in national income?Which national income account should be examined to discover trends in the after-tax income that people have to save and spend?The equation for determining real GDP for year X isC: nominal GDP for year X/ GDP chain price index for year XWhich of the following would be counted as a final good for inclusion in GDP?A: A piece of glass bought this year by a consumer to fix a broken window.Based on the circular flow model, money flows from households to businesses inIf the underground economy is sizable, then GDP willThe income that people earn in resource or factor markets is calledIncreased production, but not increased inflation, will result in higher Question: 8. The value of production by a Singaporean working in the U.S. b. Which of the following is included in Singapore’s GDP? 23. This category includes all services and goods purchased by households in the United States, such as food, gasoline, vehicles, appliances and other durable and non-durable goods.
suppose iPhones cost consumers $200 and USB cables cost consumers $25 what contribution doe 2,000 iPhones and 1,200 USB cables make to GDPmake international comparisons of the standard of livingif gdp grows more rapidly than the population of a particular country over period of time then we can determine thatwhich of the following is directly included in the calculation of gdpall of the following count as unreported income exceptwhich of the following would not be included in the calculation of GDPtips earned by a bartender who does not report the to the IRSa furniture factory produces dining rooms etc the lumber it purchases from the lumberyard is ato avoid counting the same output than once the calculation of gap includesthe real gap is more accurate than nominal gap in making comparisons of output over time becausenominal gap can increase simply because of price increases over time (inflation)in periods of rising prices percentage increases in nominal gap willan increase in the average level of prices of goods and servicesa economy's production possibilities curve indicatesthe wearing out of plants and equipment is ken own asthe national income aggregate calculated by subtracting depreciation from gap is known asan economy production possibility curve is most likely to expand isif for a given year gross investment is 300 billion and depreciation is 75 billion then for that year the capital stock is ______ and net investment I s______which of the following typically purchases the most goods and services int he us economywhen calculating gap consumption makes up approximatelythe economic definition of investment included all of the following exceptwhich of the following is investment according to an economistan increase of business inventories. (I=productive business inventory)which of the following types of government spending is included in the calculation of gapfederal state, and local government spending on goods and services onlywhen we calculate gdp government spending on goods and services makes up approximatelysubtracted from total spending because they re part of another countries GDPthe production possibilities of the economy define the limits of real incomethe income earned by the factors of production in producing gdpsocial security payments to retired persons are included inthe measure of what households receive after personal income tax is deducted ason the basis of table 5.1 gross domestic product isthe value of total output must equal the value of total income in an economy for all of the following reasons exceptgovernment expenditures must equal government revenuesone in the news article cites a lot going on under the table reports the 92 percent of household make untaxed or unmeasured purchases this is an example posone int he news article states that the underground economy includes transactions that are unnamed or unaccounted for the gdp according to this article the underground economya cartoon in the text shows tow people watching tv on the screen are the words "economic growth indicators are up led by car repairs, divorce costs, open heart surgeries and toxic waste cleanups, the cartoon is illustratingdifference between economic welfare and social welfareto measure aneocnomys output adjusted for changes in the price level one would useif the price level was increasing at 4 percent and output is increasing by 5 percent then
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