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Use two diagrams to explain the effects of the determinants of aggregate
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- Give typing answer with explanation and conclusion what is the US GDP for the first quarter and second quarter of 2021? What is the personal consumption expenditures for the first quarter and second quarter of 2021?Need help with macroeconomic review questions! How do each of the following transactions affect Canada’s GDP? Unless otherwiseindicated, assume that each of the subsequently mentioned people resides in Canada.(d) Hitomi is a Japanese tourist who spends $50,000 on her vacation in Alberta.(e) Ichabod purchases a $12,000 semiconductor, which he uses to create a robot. He then sells the robot for $67,000.(i) Mario spends $10,000 transporting his marijuana to the cannabis shop, where hesells it for $25,000.Below is a hypothetical table such as would be generated by the Bureau of Labor Statistics when reporting historical and forecasted levels of gross domestic product for the United States. Use the answer table to fill in the blank for the missing estimates. Make sure you show your work. 1. 1998 Gross Domestic Product Answer (Remember to show work) 2 . 2028 Personal Consumption Expenditures Answer (remember to show your work) 3. 2008 Gross Private Domestic Investment answer (remember to show work) 4. 2018 Exports Answer (remember to show work)
- 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 Haiti11:25 | 0.0KB/s © וו*ה K EXERCISE Jan 14 Q EXERCISE Jan 14, 2021 1. Define gross domestic product (GDP). State the four concepts of GDP. 2. 2. Which of the following are included in this year's GDP? Explain why each is included. (a) Dr Simone grows vegetables for home consumption. (b) The income of a general practitioner. (c) Government pays out BR1M. (d) The purchase of leather by a shoe manufacturer. 3. What is the difference between GDP and GNP? Give examples to explain. 4. Suppose that the information in the following table is for a simple economy that produces the following goods and services. Year 2010 Year 2011 Year 2012 Product Price Quantity Price Quantity Price Quantity (RM) (RM) (RM) A 1 180 1 200 1.25 200 B 90 75 90 100 100 120 0.6 675 0.5 600 0.5 630 (a) Calculate nominal GDP for years 2010, year 2011 and year 2012. (b) Calculate real GDP for year 2011 using year 2010 as the base year. What is the GDF deflator? (c) Calculate real GDP for year 2011 using year 2010 as the…Use the table below to answer the question. 2018 (Base Year) Price $3 $3 Quantity 14 12 2019 Price $6 S6 |Quantity Tomato Tobacco 7 Habitats of Virginia produce and consume only two products, tomatoes and tobacco. Total quantities of output and prices (per unit) of two products in 2018 and 2019 are shown on the table above. The base year is 2018. Using the base-year method, real GDP in 2019 is $ (Answer in whole number without $ sign or decimal: e.g. 12)
- Calculate the four components of aggregate expenditure and GDP for the following economy using data from the table below.Instructions: Enter your responses as whole numbers. If you are entering any negative numbers, be sure to include a negative (-) sign in front of those numbers. GDP Consumption expenditures $550 Exports $100 Government purchases of goods and services $200 Construction of new homes and apartments $200 Sales of existing homes and apartments $200 Imports $50 Beginning-of-year inventory stocks $100 End-of-year inventory stocks $50 Business fixed investment $100 Government payments to retirees $100 Household purchases of durable goods $150 Consumption expenditures: $ Investment expenditures: $ Government Purchases: $ Net Exports: $ GDP: $Potential GDP| ' 45° C+1+(X-IM) 4,800 B 3,200 3,000 4,000 5,000 2. Use the graph above to answer the following questions: a. Calculate the MPC: b. What is the equilibrium value of GDP?_ Real Expenditure (billions of dollars per year)a)Suppose you are given the following information about the New Zealand economy, with the values in billions of Dollars. What is the GDP of New Zealand? Personal consumption $680Private investment $370Government expenditure $430Exports $710Imports $295b) Discuss 2 transactions that are not included in the calculation of GDP and provide an example for each.
- In the below table, C is consumption expenditure, Iis investment, G is government expenditure, and NX is the net exports. All entries are in million dollars. (SHOW THE STEPS OF CALCULATIONS) c) What is the unplanned inventory change when GDP is equal to $2200 million? d) How much is the level of savings when income is $2300 million?(a) Use the following table to calculate GDP price deflator in 2019 and 2020 and the change in the overall price level from 2019 to 2020. You will need to round your answer to the nearest whole number. GDP 2019 2020 Nominal GDP $26 000 $28 000 Real GDP $21 000 $22 000 (b) Consider an economy only producing two goods: pen and bread in both Year 1 and Year 2. Can the Real GDP of this economy increase between Year 1 and Year 2, while the Nominal GDP decreases or remains the same? Explain your answer with a numerical example.QUESTION 1 Below is a hypothetical table such as would be generated by the Bureau of Labor Statistics when reporting historical and forecasted levels of gross domestic product for the United States. Use the answer table to fill in the blanks for the missing estimates. Make sure you show your work. 1998 Gross Domestic Product Answer (Remember to show work): 2028 Personal Consumption Expenditures Answer (Remember to show work): 2008 Gross Private Domestic Investment Answer (Remember to show work): 2018 Exports Answer (Remember to show work):
