How does the expenditure approach calculate GDP?

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macroeconomics

Show that the expenditure approach and the income approach add up to the same figure: consumption $5000 investment $1000 depreciation $600 Profits $900 Exports $500 Compensation of Employees $5,300 Government purchases $1000 Direct Taxes $800 Saving $1100 Imports $700 How do ...

Economics

How does the expenditure approach calculate GDP? ____________________________________ A. It adds up all the incomes in the economy.***** B. It adds up the value of four groups of final goods and services. C. It adds up the value of business goods and services. D. It adds up ...

economics

How does the expenditure approach calculate GDP? A. It adds up all the incomes in the economy. B. It adds up the value of four groups of final goods and services. C. It adds up the value of business goods and services. D. It adds up the value of consumer goods and services.

economics

What are the components of aggregate expenditure? In the model developed in this chapter, which components vary with changes in the level of real GDP? What determines the slope of the aggregate expenditure line?

Economics Homework

Use the Expenditure Equation for GDP (GDP = C + 1 + G + XN). Using your research skills, find the values for each sector for the years 1929 and 1933. Determine the percentage change for the two years. Explain the drastic change and what this meant for the U.S. population.

home economics

Use the Expenditure Equation for GDP (GDP = C + 1 + G + XN). Using your research skills, find the values for each sector for the years 1929 and 1933. Determine the percentage change for the two years. Explain the drastic change and what this meant for the U.S. population.

Economics

How does the expenditure approach calculate GDP? ____________________________________ A. It adds up all the incomes in the economy. B. It adds up the value of four groups of final goods and services. C. It adds up the value of business goods and services. D. It adds up the ...

Economics

The task of my assignment was to calculate the Nominal GDP, given the GDP deflator and the Real GDP. This is what I got. GDP Deflator Real GDP Nominal GDP 0.9 600 540 1.0 600 600 1.1 600 660 The second part of the question asks what is happening in terms of real growth in the ...

macroeconomics

Year - 2000 Nominal GDP: 9,817 Real GDP: ___________ GDP Deflator: 1 Inflation 2.2 Real GDP Per capita: _________ Population 283.7 Year – 2001 Nominal GDP: ________ Real GDP: 9,891 GDP Deflator: _________ Inflation 2.4 Real GDP Per capita: _________ Population 286.6 Year ...

VERY URGENT, HELP!

Consider a simple economy consisting of only four firms. Firm A, a mining enterprise, extracts iron ore. Firm B, a Steelmaker, produces steel sheets. Firm C, a carmaker, makes automobile while Firm D produces automobile tires. In 2016, firm A extracts 50,000 tons of ores, ...

Econ URGENT HELP!

Consider a simple economy consisting of only four firms. Firm A, a mining enterprise, extracts iron ore. Firm B, a Steelmaker, produces steel sheets. Firm C, a carmaker, makes automobile while Firm D produces automobile tires. In 2016, firm A extracts 50,000 tons of ores, ...

Econ VERY URGENT, HELP!

Consider a simple economy consisting of only four firms. Firm A, a mining enterprise, extracts iron ore. Firm B, a Steelmaker, produces steel sheets. Firm C, a carmaker, makes automobile while Firm D produces automobile tires. In 2016, firm A extracts 50,000 tons of ores, ...

Macro

The great depression was the worst ecomonic disaster in US history in terms of declines in real GDP and increases in the unemployment rate. Use the data in the following table to calculate the percentage decline in real GDP between 1929 and 1933 Year Nominal GDP GDP price ...

econ

National Accounting (the value of GDP should be the same all along the exercice) Say that PmQ = 20 (market value of domestic production), J = 5 (imports), FC = 8.5 (total final consumption), IC = 4 (intermediate consumption), IT = 4 (total investment), Δinventories = 2.5...

Economics

The answer i got is : GDP grew 10% GDP for 2006 using 2005 as the base year increase by 20% real GDP grow? 10% If i'm right, let me know, if not, please show Calculation Thank You Use the following data to answer questions 1-3 (be sure to provide all calculations). Quantity ...

biology

Given that the caloric expenditure is about 10 kcal/ 1 lb. * day. How would you find the ATP expenditure/day. Is it possible to calculate the amout of ATP used per day given only the caloric expenditure?

Economics

Help The answer i got is : GDP grew 10% GDP for 2006 using 2005 as the base year increase by 20% real GDP grow? 10% If i'm right, let me know, if not, please show Calculation Thank You Use the following data to answer questions 1-3 (be sure to provide all calculations). ...

Macroeconomics

Can someone check this for me? 1. Where in the US National Income and Product Accounts and the circular flow of expenditure and income do new home sales appear? ANSWER: I said they appear with money going from the households to the goods and services market. 2. How does a fall...

Economic

All of the following refer to the Economy of Ecoland: - GDP in 1990 is $1000 - Annual inflation is 5% per year from 1991 - 1995. From 1996 - 1999, inflation is 10% per year - Real GDP grows at 2% every year a) Calculate real GDP from 1990 to 1999 b) Calculate nominal GDP in ...

Macroeconomics

How do you calculate the nominal GDP and the real GDP of something? I know the formula for GDP is y=c+I+G+NX but in a problem like an economy produced this many of good#1 and this many of good#2 last year. The price of each good #1 was $8 last year, and each good#2 cost $7 ...

Economics

Can someone please help. What components of GDP (if any) would each of the following transactions affect? Explain. a. A family buys a new refridgerator. b. Aunt Jane buys a new house. c. Ford sells a Mustang from its inventory. d. You buy a pizza. e. California repaves Highway...

economics

use the expenditure equation for gdp=c+i+g+xn find the values for each sector for the years 1929 and 1933. determine the precentage change for the two years.

Macroeconomics

Where are we in the business cycle? What is the real GDP today? What is the largest component of GDP? What is the smallest component of GDP? What is the fastest growing component of GDP and why? What components of GDP were involved in the change from last month to this month? ...

ECO

suppose US nominal GDP was $6,250 billion in 2000 and GDP chain price index is 125.0. Real GDP is:

economics

in 1990, US nominal GDP was $5,744 billion and the GDP chain price index is 93.6. Real GDP in 1996 dollars is approximately:

math

Average Growth Rate(2000-2009)of China - GDP: 10.9 Population: 0.8 Per Capita GDP: 10.1 Ethiopia - GDP: 7.5 Population: 2.8 Per Capita GDP: 4.7 How fast does total output(GDP)have to grow in order to raise per capita GDP in Instructions: Enter your responses to one decimal ...

economics

what is the equation for finding the GDP for a year? Is it GDP=N/R or GDP=N/R *100?

ECON

If C = 500 + 3/4[GDP- 100], I = 300, G = 400, Xn =- 10 and full employment GDP is 210 less than current GDP, the proper action would be to increase taxes by?

Economics

1) If C = 1000 + 7/8[GDP-1000], I = 700 and G = 1000 and the economy is currently in equilibrium at 400 below full employment GDP, the correct fiscal policy would be to increase G by? 2) If C = 500 + 3/4[GDP- 100], I = 300, G = 400, Xn =- 10 and full employment GDP is 210 less...

economic

1. If C = 1000 + 7/8[GDP-1000], I = 700 and G = 1000 and the economy is currently in equilibrium at 400 below full employment GDP, the correct fiscal policy would be to increase G by? (Points: 2) 2. If C = 500 + 3/4[GDP- 100], I = 300, G = 400, Xn =- 10 and full employment GDP...

macroeconomics

27. The following data show nominal GDP and the appropriate price index for several years. Compute real GDP for each year and indicate whether you have “inflated” or “deflated” nominal GDP in finding real GDP. All GDP are in billions. Nominal Price level Inflated (I) ...

economics

state the effects of unemployment on the (A)consumers expenditure (b)investment (c)Government expenditure (D)The church.

Macro Help

Calculating Marginal Propensity to Save and Marginal Propensity to Consume Consider the following table. For this hypothetical economy, the marginal propensity to save is constant at all levels of real GDP, and investment spending is autonomous. There is no government. Real ...

economics

What are the following variables used for in economics: Nominal GDP, Real GDP, GDP Deflator and CPI?

math

the price of wheat is decreased by 25% and its consumption increased by 25% find the new expenditure as ratio of initial expenditure

Economics

Discuss the relationship between the level of Gross Domestic Product (GDP) and economic well-being. What factors of well-being are missing from the GDP? Is there a point where the GDP could increase to such a high level that economic well-being could be compromised? If so, ...

economics

1. Use the following information to answer the questions below: Quantities Produced Prices CDs Tennis Racquets CDs Tennis Racquets Year 2004 100 200 20 110 Year 2005 120 210 22 120 a. Calculate real GDP using prices from 2004. By what percent did real GDP grow? b. Calculate ...

Finance

You have an invoice for a major expenditure due in 5 years for $82,000 and the annual interest rate of 5%. How much do you need now to pay for this expenditure?

Econ

Do people living in countries with higher real GDP necessarily have better living standards compared to countries with relatively lower GDP? Give practical example. 2. What measures would better compare the well-being (living standard) for residents of different countries? How...

maths

A statistician wants to estimate the mean weekly family expenditure on clothes. He believes that the standard deviation of the weekly expenditure is $125. Determine with 99% confidence the number of families that must be sampled to estimate the mean weekly family expenditure ...

Economics

EconMacro4 Chapter 9 Aggregate Expenditures and Demand 7. A. What are the components of aggregate expenditure? Page 148 Add to the consumption function, investment, government purchases and net exports (C + I + G + (X-M). B. In the model developed in this chapter, which ...

business

if the economy in the US is currently at the trough of a business cycle then whats the relationship between real GDP and potential GDP? Is it likely that the real GDP will stay in this relative position got a long period of time? (like 15 yrs)

Economics

If a government raises its expenditures by $50 billion and at the same time levies a lump-sum tax of $50 billion, the net effect on the economy will be to: a. increase GDP by less than $50 billion b. increase GDP by more than $50 billion c. increase GDP by $50 billion d. make ...

macroeconomics

should we care more about nominal GDP or real GDP?? Thank you for using the Jiskha Homework Help Forum. Here is a link that discusses that very question: http://economics.about.com/cs/macrohelp/a/nominal_vs_real.htm A GDP based on the prices that prevailed when the output was ...

Economics

what does the positive slope of a line with Government expenditure (G) represent when Y=Total expenditure is on the x axis. For simplification, in the equation G=a+tY, where a and t are constants, what does t represent?

macroeconomics

GDP rises from $4 trillion in 2006, the base year, to $5 trillion in 2012. The GDP deflator in 2012 is 120. Find real GDP in 2012. Find the percentage increase in real GDP between 2006 and 2012.

Math Urgent!

A manufacturer has recorded the profit P (in dollars) when there is a monthly advertising expenditure of A dollars. The data is recorded in the following table. A 200 500 800 1100 1300 P 8030 14,480 14,630 8480 860 (a) Find a quadratic model for pro fit as a function of ...

Economics

An increasein governemtn expenditure in increasing GDP when it is financed by: a) rasing taxes b) slling governemtn bonds to the general public c) selling governemtn bonds to the central bank d) selling government bonds to the commercial banks e) both c and d The right answer ...

Math

If the total expenditure was 2.5 million euros determine: 1) cost of administration (which is 20%): i did 20x2.5 million divided by 100 2) by how much thr expenditure on production (30%) exceeded that of selling (25%)

Economics

Can someone please explain what factors affect a country GDP? Also, if Thailand has a GDP of 4.5% and Australia has a GDP of 2.8%, please explain which country has a better economy. Thanks for your help

MACRO 2 ECON

2.4 (Investment and the Multiplier) This chapter assumes that investment is autonomous. What would happen to the size of the multiplier if investment increases as real GDP increases? Explain. LO3 3.1 (Shifts of Aggregate Demand) Assume the simple spending multiplier equals 10...

economics

Prepare a two- to three-page analysis by answering the questions below. Be sure to cite your references using APA format. What is nominal GDP? What is real GDP? What is included in each? Why are these measures important? What do they tell us? What was GDP for the last two ...

Statistics

The weather forecaster reports that the probability of rain tomorrow is 10%. a. Which approach was used to arrive at this number? Was it the analytical (classical) approach, relative frequency approach or subjective approach?

macroeconomics

23. The next four questions refer to the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year. Units of Price Year output per unit 1 16 $2 2 20 3 3 30 4 4 36 5 5 40 6 (a) If year 2 is the base ...

Macroeconomics

If GDP increases by 5 percent in the same that the deficit is run, What happens to gross debt as a percentage of GDP? What happens to the level of debt held by the public as a percentage of GDP? deficit was $300 billion

Economics

How do you find planned investment from the GDP, and determining the equilibrium GDP of an economy?

social studies

what is canada's gdp and what is japan's gdp ? please answer this question. thank you:) ^-^ :) :) ^-^

gdp

what does gdp tell us about the level of labour productivity in a country

Macroeconomics

The following calculations help you see how the ratio of debt to GDP changes from one year to the next. Suppose that in a hypothetical country with a currency called the ducat, debt is equal to 140 trillion ducats and GDP is equal to 100 trillion ducats. This means that the ...

Economics

GDP=375 Government spending increases by 50 Taxes increase by 50 MPC=.9 What is the new equilibrium GDP?

marcoenomics

Assume Country X has much larger real GDP than county Y. Despite its low real GDP figure, is it possible for the standard of living, as measured by GDP per capita, in Country Y to be better than the standard of living in Country X? Please explain.

ECON!

I was given what the GDP is, then found consumption, savings, MPC, MPS and the planned investment but not sure how to go find the equilibrium GDP!

IT210

When building a house, a structured, modular approach is better than a haphazard approach. Explain how a structures approach relates to developing programs and why using an organized approach is important. Post a simple pseudocode, coding example or a flowchart.

EA

Where would you most likely find a token economy as a form of classroom management? A) RRP approach B) Contract approach C) Contingency management approach D) RIP approach

Economics

What percentage of Americans GDP per capita is available to the average citizen of Mexico? Americas GDP $35060.00 Mexico GDP $8540.00 To find this answer, divide 8540 by 35060. Move the decimal point in your answer two places to the right to get the percentage.

Economics

What is the % of GDP is the national debt? My Answer: The percentage of GDP is national debt is approx. 77%. Is this correct? Please post the figures you're using for GDP and national debt. I went and used the latest figure of Real GDP which was the third quarter of 2006 being...

GDP geogrsphy

What are some of the factors that can cause a country’s Gross Domestic Product (GDP) per person to change? kathi anderson forever never lasts

Stastics

Imagine a researcher presented a null hypothesis that in a certain community, the average energy expenditure of residents is at least 2,100 calories per day. He randomly sampled 100 residents in that particular community. He computed a negative test statistic and the ...

Macroeconomics

Which of these are not accurately accounted for by either the income or expenditure methods of calculating GDP for the United States? a. The Brazilian wood that is used for flooring an American house. b. The value of leisure time. c. The loss of enjoyment people incur when ...

Geography

What can we infer about a country based on its GDP? Why is the HDI a better way to compare countries than other indicators above e.g gdp, primary school enrollement etc;

MacroEconomics

Monetary policy is the responsibility of the Central Bank and involves variations in the level of the supply of money, the interest rates and availability of credit aimed at affecting the level of expenditure, employment and economic activity within the economy. a. Illustrate ...

Macroeconomics: GDP

John (who lives in "Statsyan"--nation) buys a new mini Cooper, which is assembled in England. What part of the GDP component(s) does this transaction belong to? I'm thinking it belongs to both the imports and consumption categories, but I'm not sure if it is possible to list ...

Economics Macro

Suppose that real GDP per capita in the United States is $49,000. If the long-term growth rate of real GDP per capita is 1.6% per year, how many years will it take for real GDP per capita to reach $98,000?

Economics

GDP=400 Investment decreases by 5 Government spending increases by 25 Consumption increases by 5 MPS=.2 What is the new equilibrium GDP?

Economics

GDP=500 Government spending decreases by 20 Taxes increase by 20 Investment decreases by 20 MPC=.8 What is the new equilibrium GDP?

Economics

GDP=500 Government spending decreases by 20 Taxes increase by 20 Investment decreases by 20 MPC=.8 What is the new equilibrium GDP?

Economics

GDP=330 Government spending increases by 30 Investment increases by 10 Net Exports decreases by 15 MPC=.2 What is the new equilibrium GDP?

maroeconomics

GDP=330 Government spending increases by 30 Investment increases by 10 Net Exports decreases by 15 MPC=.2 What is the new equilibrium GDP?

Macroeconomics

The money supply in Freedonia is $200 billion. Nominal GDP is $800 billion and real GDP is $400 billion. Assuming that velocity is stable, if real GDP grows by 10 percent this year, and if the money supply does not change this year, what is the change of price level?

GDP

I was trying to calculate the GDP using the income method, but I don't know what to do with the inputs purchased etc. Here are the data: Agriculture: Total sales --- $50 Capital goods Purchased --- $40 Manufacturing inputs --- $30 Wages --- $20 Operating Surplus --- $10 ...

Economics

GDP=520 Government spending decreases by 15 Taxes decrease by 20 Investment increases by 30 Net Exports decrease by 30 MPC=.75 What is the new equilibrium GDP?

Macroeconomics

Wondering if I am doing this correctly?? If net taxes are increased by 3 billion dollars by how much would we expect real GDP to change? My answer is: d) If the government increases taxes by 3 billion dollars we would use the tax multiplier to determine what the change in GDP ...

Macroeconomics* Please check my answers*

If real GDP per capita grows at a rate of 5% per year consistently over time, how many years would it take for it to double in size? 5 10 My answer 14 70 The purpose of indexing Social Security payments to the CPI is to ______. increase corporate profits justify continued ...

Macroeconomics

Please check my answers; stuck on a few questions on my homework. 1. In the long run, an increase in the supply of bank loans is matched by a __________ in the price level and the quantity of real loans is __________. A. rise; unchanged B. rise; increased C. fall; unchanged D...

Economics

Compensation of employees $194.2 US exports of goods and services 17.8 Consumption of fixed capital (depreciation) 11.8 Government purchases 59.4 Taxes on production and imports 14.4 Gross private domestic investment 63.9 Transfer payments 13.9 US imports of goods and services...

Macroeconomics

Calculating the Rate of Growth of Per Capita Real GDP The annual rate of growth of real GDP in a developing nation is 0.3 percent. Initially, the countries' population was stable from year to year. Recently, however, a significant increase in the nation's birth rate has raised...

macroeconomics

is this a recessionary or inflationary gap. aggregate supply curve is horizontal, change in real GDP arising from a shift of the aggregate demand curve = the size of the shift of the curve. Calculate both the change in government purchases of goods and services and the change ...

Economics

3. Starting from short-run equilibrium, the following occurs: Labor productivity rises, and individuals expect higher (future) incomes. What will be the effects on the price level, Real GDP, and the unemployment rate in the short run? a.Real GDP will fall, the unemployment ...

Economics

3. Starting from short-run equilibrium, the following occurs: Labor productivity rises, and individuals expect higher (future) incomes. What will be the effects on the price level, Real GDP, and the unemployment rate in the short run? a.Real GDP will fall, the unemployment ...

Econ

How do you calculate the growth rate of real GDP between two years?

Economics

How do you calculate the growth rate of real GDP between two years?

Economics

21. How do fears of future economic problems affect GDP? A. Businesses will invest more money in the short term to ensure higher profits in the future; GDP will be pushed up. B. Consumers will spend more money in the short term to prevent future economic problems; GDP will be ...

ECONOMICS

this is a table with some questions and i don't know how to solve it -------------table-------------------- (1)real domestic output (GDP=DI) in billions $200 $250 $300 $350 $400 $450 $500 $550 (2)aggregate expenditures private closed economy billions $240 $280 $320 $360 $400 $...

Economics

This chart shows the components of nominal GDP for the years 2000 and 2001. All figures are in billions of current dollars. -------------------------------------------------------------------------------- Components 2000 2001...

Macroeconomics

Assume the simple spending multiplier equals 10. Determine the size and direction of any changes in the aggregate expenditure line, real GDP demanded, and the aggregate demand curve for each of the following changes in spending: a. Spending rises by $8 billion at each income ...

Phi

Economics continue to measure our countrys economic well being based solely on its GDP however, GDP measures only products and services bought and sold with no regard with whether these money-generating transactions are positive or negativer. For example, when natural ...

economics plz help

this is a table with some questions and i don't know how to solve it -------------table-------------------- (1)real domestic output (GDP=DI) in billions $200 $250 $300 $350 $400 $450 $500 $550 (2)aggregate expenditures private closed economy billions $240 $280 $320 $360 $400 $...

Economics

Why is it that the people responsible for pensions use the CPI as an indicator for inflation rather than the GDP deflator? Why is the CPI better? what is rconimics I believe the biggest reason is the base for each measures. CPI measures the weighted average change in prices ...

macroeconomics

In each of the following cases, either a recessionary gap or inflationary gap exists. Assume that the aggregated supply curve is horizontal so that the change in real GDP arising from a shift of the aggregated demand curve equals the size of the shift of the curve. calculate ...

economics

With proportional income tax, a. The tax multiplier equals (MPC)(1-MPC) b. The tax multiplier equals –MPC/(1-MPC) c. The spending multiplier equals (MPC)/(1-MPC) d. The spending multiplier equals 1/[1-MPC(1-t)] e. The spending multiplier equals 1/[1-(MPC)t] Suppose the ...

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