What is total expenditure in an economy? Total expenditure is equal to expenditure ______. A. on goods and services produced in the economy and goods imported. B. by households, firms, governments, and the rest of the world on goods and services produced in the economy. C. by firms and governments on goods and services produced in the economy
Q: In the market for smartphones, what event decreases the demand for smartphones today? The demand…
A: Demand for a good is affected when other factors like consumer tastes, price of related goods, and…
Q: You explored changes in the prices of bottled water, Gatorade, and a gym membership. Which of these…
A: Substitute goods are those that can be used in place of one another, whereas complementary goods are…
Q: Suppose you are a farmer with 20 hectares of land on which you could grow either wheat or barley.…
A: a) Wheat is allotted land on the X axis, and barley is allotted land on the Y axis.
Q: 2. Convert 12% compounded semi-annually to "r" compounded quarterly.
A: The formula for effective rate of interest is: r = 1+inn - 1
Q: Discuss the economic rationale and two major consequences of a price ceiling on a product in a mixed…
A: Price Ceiling refers to the action of the government or a regulatory body that keeps a maximum cap…
Q: 2-4. The land of Oz produces dreams (denoted by x) and wishes (denoted by y). The production…
A:
Q: Explain the difference between the extensive and the strategic form
A: Game Theory is a part of economics that studies the different ways the various choices of economic…
Q: p. How would the immigration of 10 munchkins, i.e., 10 units of labor, affect the PPF equation? Show…
A:
Q: Demand Schedule Supply Schedule P Q P Q 10 30 10 80 9 35 9 74 8 40 8 68 7 45 7 62 6 50 6 56 5 55 5…
A: The demand schedule is the tabular representation of the combination of price and quantity demanded…
Q: e oligopoly in your own words and elaborate on the characteristics of oligopoly? .
A: OLIGOPOLY: The term oligopoly market refers to the situation under which there is a small number of…
Q: (d) Use your (rounded and correct) answer from part (c) to complete the following. The price of this…
A: The price of the market basket of recreational water equipment in the year 2013 = [CPI value for the…
Q: Your textbook covered 4 possible ways to deal with a natural monopoly. Which approach would be best…
A: Meaning of Monopoly: The term monopoly refers to the situation under which there is only an…
Q: If saving function is given as: S=-110 +0.7(Y), then MPC is O 0.7 0.4 None of these 0.3
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Soft-drink firms produce both cola and flavored water. Which of the following events increases the…
A: Given data Increase in supply Increased supply entails greater quantity at the same price. From S1…
Q: 4. Explain whether the following statement is True or False or Uncertain, and why. Water rationing…
A: Water restrictions limit specific purposes of water for instance water system of yards, vehicle…
Q: Suppose that the government decides to impose a rent control of $2,100 per month on rental…
A: Given the following information: Rent control = $2100 Consumer surplus is represented in green…
Q: Suppose balance of trade is $630 and imports of goods is $115 find the exact value of the exports of…
A: Balance of trade is gradually defined as the must value of the exports excluding the part of the…
Q: Consider the market for High-Definition television sets in an average town in America. a. Start in…
A: In a free market, the equilibrium is attained by the forces of the demand and supply curve. The…
Q: What is economic justice and should there be a Hippocratic Oath for economists?
A: GIVEN DATA Views on economic justice and whether should be there Hippocratic oath for economists
Q: You are quoted an interest rate of 6% on an investment of $1000. What is the value of your…
A: Here, it is given that an investment of $1,000 gives 6% annual interest rate that is compounded…
Q: The term refers to a practice in which employers decide to hire more workers than are required for…
A: Given information, Misallocation-When capital and labor are unfairly spread, less productive…
Q: 2. The province wishes to upgrade the technology used by universities and will subsidize your…
A: Given, The government wants to modernise university technology, therefore it will give your…
Q: The balance of payments of a country on current account is equal to ___________. Select one: a.…
A: Balance of payment is an account that record all the international transactions of a country with…
Q: Companies building stagecoaches understood the marginal concept. After experimentation, it was…
A: In a production unit, some factors can be fixed and some others can be variable. This is a concept…
Q: Imagine that Beth is the best florist in the world and the best pianist in the world. But can earn…
A: Absolute advantage is the capacity to produce an expanded number of goods and services at preferable…
Q: Refers To an
A: In the given question The term commodity basically refers to an agriculture product or a particular…
Q: Imagine the market for home computers in the 1990s. a. Start in Equilibrium (be sure to label all…
A:
Q: D3
A: We know that The labor market alludes to the supply of and demand for workers, in which workers give…
Q: What is the effect of the following event on the supply of pizzas? If other things remain the…
A: Supply The total quantity of a specific good or service that is made available to customers is…
Q: How do you think the costs of teaching a commerce degree online would compare to the costs of a…
A: A commerce degree could be taught online for less money than on-campus at a university because of…
Q: Answer quickly fast don't copy
A: In an economy, it is possible that illegal merging and contracting of businesses can be the cause of…
Q: Interest payments on loans borrowed abroad are recorded in _______________. Select one: a. official…
A: Borrowings from abroad is also known as foreign debt which is the money or any financial assistance…
Q: Cho is a hard-working college freshman. One Tuesday, she decides to work nonstop until she has…
A: GIVEN DATA, A chart is provided showing the amount of time and difficulties that have been resolved…
Q: A B C D The equilibrium point will move from C to E. The equilibrium point will move from C to B.…
A: Answer to the question is as follows:
Q: ith the theory of demand and supply, carefully explain the impact of an increase in price of steel…
A: According to the law of demand, Price(P) and quantity demanded (Q) have an inverse relationship. In…
Q: The project's economic study predicts annual investments of R$300,000,000.00 during three years of…
A: The difference between the current value of cash inflows and withdrawals over a period of time is…
Q: You may need to use the appropriate appendix table or technology to answer this question. Consider…
A: Since you have posted multiple questions, as per the guidelines we can solve only one question per…
Q: Suppose total National Savings, St, is St= sYt - hKt. The extra term -hK, reflects the idea that…
A: Given , Savings function : S = sY - hK And we know that in equilibrium , Savings = Investment…
Q: In the market for ketchup, which of the following would cause an increase in supply? Multiple Choice…
A: A shift in supply curve occurs when the quantity supplied of the good increases or decreases at the…
Q: For such a monopolistically competitive firm, the following total cost (TC) relation is true both in…
A: Monopolistically competitive When numerous businesses offer products that are similar but not…
Q: Which one of the following statements is false? OA. A house and furniture are complements. O B.…
A: Let's assume there are two goods, i.e., good X and good Y Good X and good Y are complements when…
Q: If $3000 invsted in a compound interest account for 4 years, amounts to $3612, what is the annual…
A: Given, P+I = A = 3612 P = 3000 n = time = 4 years Compound interest Rate = r = ??
Q: Market (inverse) demand for measles vaccine is given by P= 100-20. Market (inverse) supply for…
A: Given information is, Market (inverse) demand for measles vaccine is given by :- P=100−2Q. Market…
Q: 6
A: A perfectly competitive market, where there are an infinite number of firms operating, is the…
Q: in the market for cola how does the market equilibrium change when both the supply of cola and the…
A: The equilibrium price and quantity are found at the point where the quantity supplied is equivalent…
Q: A man wishes his son to receive P250,000 ten years from now. What amount should he invest if it will…
A: The present worth technique is very famous in industry since every single future expense and incomes…
Q: Fantaa is the only soft drinks manufacturer in Country V. Weekly, Fantaa is able to produce 6.34…
A: In the free market, the equilibrium price and quantity is determined by the forces of demand and…
Q: Consider a market for custom plastic cups. The demand function is D(p) = 100 - 2p and supply S(p) =…
A: Equilibrium is established where the demand and supply forces are equal. The elasticity of demand…
Q: Gilberto and Juanita are farmers. Each one owns a 12-acre plot of land. The following table shows…
A: The countries involve in trade. Trade is very beneficial for all countries. It improves the market.…
Q: Would it be plausible to claim that the theory of rational expectations is a distorted form of…
A: According to the hypothesis, people's current expectations for the economy have the power to…
What is total expenditure in an economy? Total expenditure is equal to expenditure ______.
A. on goods and services produced in the economy and goods imported.
B. by households, firms, governments, and the rest of the world on goods and services produced in the economy.
C. by firms and governments on goods and services produced in the economy
Step by step
Solved in 3 steps
- Classify each of the following items as a final good or service or an intermediate good or service, and identify which is a component of consumption expenditure, investment, or government expenditure on goods and services. A. A new limousine for the president B. A DVD bought by a household C. Steel sheets bought by General Motors D. A new apartment building O 1. Ais a final good that is government expenditure, B is a final good that is consumption expenditure, C is an intermediate good, and D is a final good that is investment. O 2. A is an intermediate good, B is a final good that is investment, C is an intermediate good, and D is a final good that is investment. O 3. Ais a final good that is government expenditure, B is a final good that is consumption expenditure, Cis a final good that is consumption expenditure, and D is a final good that is consumption expenditure. O 4. Ais an intermediate good, B is a final good that is consumption expenditure, C is an intermediate good, and D is…Classify each of the following items as a final good or service or an intermediate good or service, and identify which is a component of consumption expenditure, investment, or government expenditure on goods and services. A. A textbook bought by a student B. A computer purchased for a senator's office C. New cars bought by Hertz, the car rental firm D. Aluminum sheets bought by Boeing 1. A is a final good that is consumption expenditure, B is a final good that is government expenditure, C is a final good that is investment, and D is an intermediate good. 2. A is a final good that is investment, B is an intermediate good, C is a final good that is investment, and D is an intermediate good. 3. A is a final good that is consumption expenditure, B is an intermediate good, C is a final good that is consumption expenditure, and D is a final good that is investment. 4. A is a final good that is consumption expenditure, B is a final good…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?
- Classify each of the following items as a final good or service or an intermediate good or service, and identify which is a component of cons government expenditure on goods and services. A. A new limousine for the president B. Banking services bought by a student C. New airplanes bought by United Airlines D. Packing boxes bought by Amazon.com O 1. A is an intermediate good, B is a final service that is consumption expenditure, C is a final good that is investment, and D is a final good that is investment. O2. A is a final good that is government expenditure, B is a final service that is consumption expenditure, C is a final good that is consumption expenditure, and D is a final good that is investment. O 3. A is an intermediate good, B is a final service that is investment, C is a final good that is investment, and D is an intermediate good. O4. A is a final good that is government expenditure, B is a final service that is consumption expenditure, C is a final good that is investment,…Place each of the following transactions in one of the four components of expenditure:consumption, investment, government purchases, and exports/imports. a. Island Manufacturers (Jamaica) sells furniture to the Hilton Hotel in Barbados.b. Island Manufacturers (Jamaica) sells furniture to St Micheal Golf Resort inBarbadosc. Island Manufacturers (Jamaica) sells furniture to John Doe.d. Island Manufacturers (Jamaica) sells furniture to the Jamaican Government.e. Island Manufacturers (Jamaica) builds a new line of home furniture to be soldnext year.A. Place each of the following transactions in one of the four components of expenditure: consumption, investment, government purchases, and exports/imports. Island Manufacturers (Jamaica) sells furniture to the Hilton Hotel in Barbados. Island Manufacturers (Jamaica) sells furniture to St Micheal Golf Resort in Barbados Island Manufacturers (Jamaica) sells furniture to John Doe. Island Manufacturers (Jamaica) sells furniture to the Jamaican Government. Island Manufacturers (Jamaica) builds a new line of home furniture to be sold next year.
- 10 In the expenditure approach, the total expenditures of the following entities are calculated, except a. Gross taxable incomes b. Gross private domestic investment c. Government expenditures d. Net Exports4. Classify each of the following items as a final good or service or an intermediate good or service and identify which is a component of consumption expenditure, investment, or government expenditure on goods and services: Banking services bought by a student. New cars bought by Hertz, the car rental firm. Newsprint bought by USA Today. The purchase of a new limo for the president. New house bought by Al GoreClassify each of the following items as a final good or an intermediate good, and identify whether it is a component of consumption expenditure, investment, or government expenditure on goods and services: Item 1. Packing boxes bought by Amazon.com. Item 2. Starbuck's grande mocha frappuccino bought by a student. Item 3. A new limousine for the president. Item 4. New airplanes bought by United Airlines. Item 1 is and item 2 is O A. an intermediate good; a final good that is consumption expenditure B. a final good that is consumption expenditure; a final good that is consumption expenditure C. a final good that is consumption expenditure; a final good that is investment D. an intermediate good; a final good that is investment Item 3 is and item 4 is O A. an intermediate good; an intermediate good O B. a final good that is government expenditure; a final good that is investment O C. an intermediate good; a final good that is investment D. a final good that is government expenditure; an…
- Classify each of the following items as a final good or an intermediate good, and classify the expenditure on each final good as consumption expenditure or investment: Item 1. New aircraft bought by Southwest Airlines Item 2. Jet engines bought by Boeing Item 3. The ringtone you bought today Item 4. A new apartment building Item 1 is _______ and item 2 is _______. A. an intermediate good; an intermediate good B. a final good that is investment; an intermediate good C. a final good that is investment; a final good that is consumption expenditure D. an intermediate good; a final good that is consumption expenditure Item 3 is _______ and item 4 is _______. A. a final good that is consumption expenditure; a final good that is investment B. a final good that is consumption expenditure; an intermediate good C. a final good that is investment; a final good that is investment D. a final good that is…In each of the following cases, determine how much GDP and each of its components is affected (if at all). C. Jane spends $800 on a computer to use in her editing business. She got last year's model on sale for a great price from a local manufacturer. GDP is unchanged Investment increases by $800 and GDP increases by $800 Investment increases by $800 and GDP decreases by $800 O Net exports increases by $800 and GDP decreases by $800If we want to calculate total spending in the economy, then we will include all of the following except: O spending by firms on new capital equipment spending by households on newly built houses government spending on new goods and services tax revenue collected by the government