Monthly reportThe Commerce Department reported that in May, 2019, retail sales rose by 0.2 percent, net exports decreased, inventories held by businesses rose by 0.3 percent, and total sales by businesses rose by 1.5 percent.Source: Commerce Department, July 2019Does the statement that total sales by businesses rose by 1.5 percent mean that GDP increased by 1.5 percent?--...The statement that total sales by businesses rose by 1.5 percent means that GDPbecauseO A. increased by more than 1.5 percent3;"total sales by businesses" includes only sales of intermediate goods and servicesO B. decreased by 1.5 percent;"total sales by businesses" are sales of intermediate goods and servicesO C. increased by 1.5 percent;GDP is a record of the value of all productionO D. increased by less than 1.5 percent;we need to subtract retail sales of 0.2 percent from the "total sales by businesses" to eliminate double countingO E. did not change by 1.5 percent;GDP measures production of all final goods and services and "total sales by businesses" includes final and intermediate goods and services

Gross domestic product(GDP) measures the money value of all final goods and services produced in an…

Answered: e statement that total sales by…

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp

Section: Chapter Questions

Problem 9WNG

See similar textbooks

Similar questions

im having a little toruble with the following question and answer: The Commerce Department reported that retail sales increased 1.3 percent in June. Net exports were up 0.8 percent in the first quarter and inventories held by businesses rose by 0.3 percent in June. Total sales by businesses rose 0.3 percent. Source: Commerce Department, 2013 Does the statement that total sales by businesses were up 0.3 percent mean that GDP increased by 0.3 percent? The statement that total sales by businesses were up 0.3 percent means that GDP ______ because ______. A. did not change by 0.3 percent; GDP measures production of all final goods and services and "total sales by businesses" includes final and intermediate goods and services B. increased by 0.3 percent; GDP is a record of the value of all production C. decreased by 0.3 percent; "total sales by businesses" are sales of intermediate goods and services D. increased by less than 0.3 percent;…
106. Which of these would be included in Canadian consumption? O A French resident buys a new house in Canada Samantha produces some art work to decorate her house. A Canadian resident buys a car manufactured in Brazil. Beverly buys a newly issued stock in a Canadian corporation
The table shows some of the items in an economy's National Income and Product Accounts. Calculate national income and disposable personal income. What is consumption expenditure as a percentage of disposable personal income? >>> Answer to 1 decimal place. National income is S trillion and disposable personal income is strillion Disposable personal income is Consumption expenditure is 10000 percent of national income. percent of disposable personal income. Item Wages Government expenditure Interest, rent, and profit Consumption expenditure Investment Net exports Indirect taxes less subsidies Retained profits Transfer payments Personal income taxes GNP Depreciation Amount (trillions of dollars) 5.7 1.7 2.2 6.7 -0.3 0.7 1.4 1.2 9.8
In 2019, consumer spending was $14,000, government purchases of goods and services were $3,700, and investment spending was $3,700. If GDP in 2019 was $21,000, exports -__, and imports were were $300; $700 $300; $200 $500; $300 $700; $300
Which of the following components makes up the largest percentage of GDP measured by aggregate spending? O imports O government purchases of goods and services consumer spending investment spending О ехрorts
Give typing answer with explanation and conclusion In a certain country called Happyland, in the year 1988, consumption was 4,990,000 happies, investment was 1,350,900, government purchases were 2,000,500 happies, exports were 1,500,000 happies and imports were 850,000 happies. (Happies is the currency used in Happyland :)) What was the value of GDP measured in happies in Happyland in 1988? (Give answer to the nearest happy.)
1. Answer the following: A) In 2011 the United States economy had a GDP of $14,991 billion according to the United Nations. If consumption was $10,729 billion, government spending was $2,594 billion, and net exports was -$568 billion, how much was investment spending? B) In 2011 the United States economy had a GDI (Gross Domestic Income) of approximately $13,548 billion according to the Bureau of Economic Analysis. If wages were $8,340 billion, interest payments were $516 billion, and rent was $430 billion, approximately how much was remaining for profit?
Suppose the current GDP is $11.3 trillion. Assuming that consumption is $6.7 trillion, investment is $2.1 trillion, exports are$1.8 trillion, and imports are $1.4 trillion, government purchases are $___ trillion. If GDP measured in billions of current dollars is $5,465, consumption is $3,657, investment is $741, and net exports are -$1,910, then government purchases are:
Suppose we have an economy where C = $30 Billion, I = $50 Billion, G = $20 Billion, Imports = $2 Billion, and Exports = $5 Billion. What is the trade balance this economy? a. What is the trade balance for this economy? NX = $ Billion b. What is the GDP for this economy? GDP = $ Billion
Based on the following statistics, how much is consumption? Total spending | Investment Government spending $2.95 trillion Exports Imports S11.62 trillion $2.56 trillion S1.80 trillion $2.18 trillion $6.49 trillion -$0.38 trillion $11.62 trillion $5.13 trillion
U.S. business inventories increase Business inventories in the United States rose 0.4% in July after no change in the prior month. An increase in inventories adds to gross domestic product while a decrease subtracts from it. Source: U.S. Department of Commerce, September 13, 2019 Explain why an increase in inventories adds to gross domestic product but why it matters whether an increase in inventories is planned or unplanned. A planned increase in inventories _______. A. decreases investment, which decreases equilibrium expenditure and real GDP B. increases investment, which increases equilibrium expenditure and real GDP C. shifts the AE curve upward, so firms decrease production and real GDP decreases to reach equilibrium expenditure D. shifts the AE curve downward, so firms decrease production and real GDP decreases E. increases consumption expenditure, which increases equilibrium expenditure and real GDP An unplanned increase…
Consider the following hypothetical data for the U.S. economy in 2018 (all amounts are in trillions of dollars; see pages 179–182).Consumption 11.0 Indirect business taxes .8 Depreciation 1.3 Government spending 3.8 Imports 2.7 Gross private domestic investment 4.0 Exports 2.5e. Based on the data, what is GDP? NDP? NI?f. Suppose that in 2019, exports fall to $2.3 trillion, imports rise to $2.85 trillion, and gross private domestic investment falls to $3.25 trillion. What will GDP be in 2019, assuming that other values do not change between 2018 and 2019?

SEE MORE QUESTIONS

Recommended textbooks for you

Economics (MindTap Course List)

Economics

ISBN:

9781337617383

Author:

Roger A. Arnold

Publisher:

Cengage Learning

Macroeconomics

Economics

ISBN:

9781337617390

Author:

Roger A. Arnold

Publisher:

Cengage Learning

Economics (MindTap Course List)

Economics

ISBN:

9781337617383

Author:

Roger A. Arnold

Publisher:

Cengage Learning

Macroeconomics

Economics

ISBN:

9781337617390

Author:

Roger A. Arnold

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS