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- For a hypothetical economy in a given year, GDP was $10,000, consumption equaled $ 9,800, government spending equaled $125, goods exported equaled $250, and goods imported equaled $500. What was investment equal to? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.An aggregated value is made up of many smaller values? True or FalseTrue or False: "Gross Domestic Product (GDP) measures the total market value of all final goods and services produced within a country in a given time period."
- Consider the following data for a particular economy:GDPmp = 950Private consumption = 750Gross investment = 100Net investment = 80Exports = 250Imports = 300Net Indirect taxes = 50Net external income = 100Balance of transfers with the Rest of the World = 50Private savings = 300Calculate:a) NNPbp (Net National Product). b) Current balance. Interpret the result obtained.Define GDP – that is national output. (a) Now explain each of the key elements that you have included in your definition; (b) explain why GDP provides a measurable, but deficient, way of describing the economy – in particular, what important societal features does GDP fail to measure.Assume you have the following data for a hypothetical country for a specific year (in billions of ZAR): Wages and Salaries: R2,500 Interest: R300 Rent: R200 Profits: R1,000 Taxes (Indirect Taxes Minus Subsidies): R400 Depreciation: R500 Given the data above, which of the following methods of calculating Gross Domestic Product (GDP) may be used? A. Expenditure approach B. Income approach C. Product approach D. Trade approach
- True or false: GDP is better indicator of a country as well because it gives a better indication how much money individuals have. If the country is rich but the individuals aren’t, The country cannot be considered Wealthy._________ is output per hour in the business sector. a)GDP per capita b)Investment c)Productivity d)Net exports#16 Answer this question based on the given information for an economy in some year. Dollar value of resource extraction activity = $20 billion Dollar value of production activity = $50 billion Dollar value of distribution activity = $80 billion Dollar value of final output = $110 billion Gross output for this economy equals
- 2) The Penn World Table includes several GDP figures. Suppose that you want to compare the standard of living in the Netherlands in 1985 with that of Poland in 2015. Which type of GDP is the best choice? a) CGDP° per capita, b) RGDP° per capita. c) RGDPN^ per capita. d) CGDP° per capita. 3) The Penn World Table calculates world prices in dollars by writing equations for the prices in which they suppose that they know a) the current exchange rates b) the nominal GDPs C) the real GDPs. d) the purchasing power parity exchange rates.How does U.S. gross domestic product (GDP) differ from U.S. gross national product (GNP)? Select one: a. GNP = GDP - losses from depreciation b. GNP = GDP - depreciation - retained earnings c. GNP = GDP + transfer payments to households +- indirect sales taxes d. GNP = GDP + income earned by U.S. citizens abroad - income that foreign citizens earned in the U.S.#12 Answer this question based on the given information for an economy in some year. Dollar value of resource extraction activity = $20 billion Dollar value of production activity = $50 billion Dollar value of distribution activity = $80 billion Dollar value of final output = $110 billion Gross output for this economy equals Multiple Choice $260 billion. an amount that cannot be calculated with the information given. $110 billion. $150 billion.