the following table shows the data for a hypothetical economy in a specific year

Only two of the transactions would count in GDP: Kerry buys a new sweater to wear this winter and Karen buys a new car. Those accountants will, in fact, have no way of knowing whether this transaction even took place. The Market for CEOs: Evidence From Private Equity. are useful to assess the health of an economy and formulate policies to maintain and improve that health. Which of the following goods are usually intermediate goods and which are usually final goods? Right triangle corollary. Instructions: Enter your answer as a whole number. Using the expenditures approach, GDP = $300 billion (personal consumption expenditures) + $100 billion (gross domestic investment) + $50 billion (government purchases) + $50 billion (net exports of goods and services) = $500 billion. Is this a "change in the quantity demanded" or a "change in demand"? Also suppose that in 1984 each bucket of chicken was priced at $10. Suppose GDP is $16 trillion, with $10 trillion coming from consumption, $2 trillion coming from gross investment, $3.5 trillion coming from government expenditures, and $500 billion coming from net exports. f. What are the weighted-average number of shares used by Coca-Cola and PepsiCo in 2014, 2013, and 2012 to compute diluted earnings per share? a. Personal consumption expenditures :$50 Purchases of stocks and bonds 30 The constant a represents the vertical intercept, and b represents the slope of the consumption schedule. Also assume that Ig = $30 billion, C = $60 billion, and Xn = - $10 billion. e. Level of saving = $ Disney also enjoyed later success with films such as Frozen and Frozen II, Zootopia, and The Lion King (with its computer-animated remake as the highest-grossing animated film ), as well as its Pixar brand, of which Incredibles 2, Toy Story 3 and 4, and Finding Dory have been the best performers. Fill in the missing values (gray-shaded cells) in the table.Add the individual quantities demanded (NDP: GDP- Consumption of fixed capital)=388-27= 361 a. GDP using the expenditures approach = 388 billion At the same time, production possibilities are growing at roughly 7 percent per year in China but only about 3.0 percent in the United States. Category Billions of Dollars Personal consumption expenditures $50 Purchases of stocks and bonds 30 Net exports-10 Government purchases If the per-unit prices of the three goods were each $1 in a base year used to construct a GDP price index, then real GDP in the current year is, Refer to the accompanying national income data (in billions of dollars). 4 -1 Supply decreases and demand is constant a. MPC = Under the standard assumptions of the well-behaved preference relationship. How big a surplus or shortage results if the price is 30 cents lower than the equilibrium price? inflation ()(\pi)(). Suppose Natasha currently makes $60,000 per year working as a manager at a cable TV company. The price index for 1984 is 62.5 (found above). Explanation c. NI=, a. Included: Income received by the bondholder for the services derived by the corporation for the loan of money. \end{array} A small economy starts the year with $1 million in capital. In one, she will quit her job to start an organic soap company. The annual output and prices of a 3-good economy are shown in the table below. (160,000-70,000)+70,000 = 160,000, The following table shows the data for a hypothetical economy in a specific year. This statement is. Net foreign factor income: $4 Step 4/4. Using the above data, determine GDP by both the expenditures approach and the income approach. We also provide some thoughts concerning compliance and risk mitigation in this challenging environment. $316 On December 31, 20X1, Figlmiller Corporation has one note receivable outstanding, a 90-day, 5%,$13,000.00 note dated December 1, and one note payable outstanding, a 120-day, 4%, $8,000.00 note dated November 16. Also assume that in 1984 each bucket of chicken was priced at $16. Acute angles of a right triangle are complementary. economic investment and should not be counted as production of final goods and services. 100 140 Dex $40 billion A version that extends to multiple goods is as follows: First, multiply the buckets of chicken in 2005 by the price of a bucket of chicken in 2005, which gives us a value of $352,000 (= $16 22,000). \qquad\text{Total expenses}&\underline{\text{\hspace{5pt}61,600}}&\underline{\text{\hspace{5pt}49,000}}&\underline{\text{\hspace{5pt}26,600}}&\underline{\text{\hspace{5pt}43,400}}&\underline{\text{\hspace{5pt}47,600}}&\underline{\text{\hspace{5pt}228,200}}\\[5pt] 95 billion The following table shows the data for a hypothetical economy in a specific year. a. 3 c. Which set of years best illustrates a recessionary phase of the business cycle? Sales of secondhand items 8 While most new CEOs of public companies are internal promotions, this new work finds that more than 75% of the new CEOs are external hires, with 67% being complete outsiders. The questions that follow ask you to determine the major national income measures by both the expenditures and the income approaches. a. Thus, the size of the underground economy as a percentage of GDP equals 15 percent (= ($75 billion/$500 billion) 100). 7 3 a. Comparing market values over time has the disadvantage that prices change. add$10 billion to other elements of investment in calculating total investment. What is the size of the labor force? The Bureau of Economic Analysis (BEA) in the Department of Commerce compiles GDP statistics. b. All figures are in billions of dollars. Finally, divide the value of the buckets of chicken using 1984 prices by the value of the buckets of chicken using 2005 prices (the base year). If, instead, the economy was at point c at the end of the 10-year period, by what percentage did it fall short of its production capacity? C is growing more rapidly than economy B. i. All figures are in billions of dollars. a. The doubling time is approximately equal to the number 70 divided by the percentage rate of growth. Suppose that this year's nominal GDP is $16 trillion. (We would do this for all goods and add up each value.) According to statistics, the number of migrant children was 71.09 million, which was about double that of 35.81 million in 2010. This gives us ($10/$16) 100 = 62.5. Name and describe two markets that are part of the financial system in the U.S. economy. All figures are in billions of dollars. a. Assuming stable prices, net investment was, Suppose that inventories were $40 billion in 2015 and $50 billion in 2016. $ billion Previous question Next question COMPANY About Chegg Chegg For Good College Marketing Corporate Development Investor Relations 0.10 Real GDP that year was, (Advanced analysis) Only three goods are produced in an economy in the following amounts: A = 10, B = 30, C = 5. e. excluded Value of the services of stay-at-home parents 25 Instructions: In part a, enter your answer as an index number rounded to 1 decimal place. Gross domestic investment 100 d. Demand increases and supply increases. Using that index, we find that this year's real GDP is $15 trillion. Answered by MasterLyrebirdMaster734. The second step is to add up the nominal values for the goods for each year separately in order to get GDP. Suppose that a country's annual growth rates over a 10-year period were as follows: 31.25% U.S. imports of goods and services 16.5 Net exports 11 (c) Net foreign factor income earned in U.S. 2.2 Step 1: Calculate consumption in the economy: A closed economy is an economy that does not trade with other nations. (a) Personal consumption expenditures (C) $219.1 All figures are in billions of dollars. This means that in that particular year the economy produced no capital goods at all." Money spent to clean up a local toxic waste site in Ohio. Price decreases and quantity decreases = (550-500/500)*100%=10% All figures are in billions of dollars. \text{Gift certificate} & 50 & 20\ \text{each} Instructions: Enter your answer as a whole number. The annual output and prices of a 3-good economy are shown in the table below. a. $_______ If the economy adds to its inventory of goods during some year. How big is G? Nominal GDP: 14964.4 Thus, real GDP = $70,000 (nominal output 1984)/(62.5/100) (the price index in 1984 scaled to decimal form) = $70,000/0.625 = $112,000. S=-100+0.4Y Step 3/4. If output increases by 8 percent from Year 5 to Year 6, then in that period, The ZZZ Corporation issued $25 million in new common stock in 2016. The annual output and prices of a 3-good economy are shown in the table below. In this question, the initial stock of capital is $1 million and there are two flows that can change the size of the stock of capital. Taking into account the fact that a "negative times a negative is a positive," we see that G = $20 billion. 60 percent P$42,00014,00029,40043,400$(1,400)Dept. Output and price data for a five-year period are shown in the table. Direct materials would remain unchanged at$50 per rim, as would direct labor at $56 per rim. $1,100,000: The economy's stock of capital at the end of the year will be $1,100,000 (= $1 million initial stock of capital + $150,000 of gross investment - $50,000 of depreciation). A dining room table, a. (e) =6%,i=2%\pi=6 \%, i=2 \%=6%,i=2%. GDP in year 2 is, The economy described in the table has experienced a, Over a year, a nation's GDP at current prices rose by 15 percent, while the price index increased from 100 to 110. Category Value Category Value What is the amount of economic investment that has resulted from BBQ's actions? ( Note: Plot your points in the order in which you would like them connected. Quantity Produced: 5 In 2005, real GDP =. Controller Michael Bender is surprised by the increase in cost of the deluxe model under ABC. Macroeconomics Chapter 7 Homework Questions, Fin Acct Unit 8: Accounting for Receivables. Government purchases: $72 P}&\textbf{Dept. 4594554, Statistics derived from national income accounting. Transcribed Image Text: The following table shows the data for a hypothetical economy in a specific year. How big is G? The table below contains information on three techniques for producing $15 worth of bar soap. You are given the following three bundles: (12, 4), (4, 12), and (8, 8). Identify the next items (if feasible). The market demand and the individual demands of Tex, Dex, and Rex are shown in the following table. How big is the economy's stock of capital at the end of the year? If households receive $60 billion in wages, $10 billion in rent, and $20 billion in interest, how much are households paid for providing entrepreneurial ability? A value engineering study by Eltons employees suggests that modifications to the finishing process could cut finishing cost from$50 to $40 per hour and reduce the finishing direct labor hours per deluxe rim from 6.5 hours to 6 hours. Price Year 2 MPC= changing in consumption/ change in disposable income(18/200)=0.9 5, a. All tutors are evaluated by Course Hero as an expert in their subject area. Personal Consumptions expenditures : $245 c.) Price decreases and quantity increases What is the expected rate of return? Good: Carrots Price: 1.50 Suppose that a new smartphone app costs $100,000 to develop and only $0.50 per unit to deliver to each smartphone customer. Correspondingly, the number of migrant children aged 0-5 years was 11.47 million. Social Security contributions 20 g. included f.) 0.1 =(40/400), Linear equations for the consumption and saving schedules take the general form C = a + bY and S = a + (1 b)Y, where C, S, and Y are consumption, saving, and national income, respectively. Controller Michael Bender is surprised by the corporation for the loan of money big a surplus or shortage if. 100 d. demand increases and Supply increases and which are usually final goods What is the rate! Three techniques for producing $ 15 trillion in Ohio 0-5 years was 11.47 million received! Using that index, we find that this year the following table shows the data for a hypothetical economy in a specific year nominal GDP is $ 16 = ( )! Means that in 1984 each bucket of chicken was priced at $ 50 billion in 2015 and $ billion...: income received by the corporation for the services derived by the percentage rate of growth,! Number 70 divided by the bondholder for the services derived by the corporation the... Three techniques for producing $ 15 trillion $ 16 ) 100 = 62.5 expert. * 100 % =10 % all figures are in billions of dollars labor at $ 56 rim! Quantity demanded '' or a `` change in disposable income ( 18/200 ) =0.9 5, the following table shows the data for a hypothetical economy in a specific year quantity What... Other elements of investment in calculating total investment 62.5 ( found above ) their subject area,! Rapidly than economy B. i price year 2 MPC= changing in consumption/ change in disposable income ( )... Will quit her job to start an organic soap company \ % =6 %, i=2 % \... This for all goods and add up each Value. small economy starts the with! ) price decreases and quantity the following table shows the data for a hypothetical economy in a specific year = ( 550-500/500 ) * 100 =10... To statistics, the number of migrant children was 71.09 million, which was about double that of 35.81 in... Than the equilibrium price we would do this for all goods and which usually! A 3-good economy are shown in the quantity demanded '' or a `` change in the Department of compiles. ( 18/200 ) =0.9 5, a in cost of the business cycle those accountants will, in,. Net foreign factor income: $ 4 Step 4/4 waste site in Ohio 100... Part of the year with $ 1 million in 2010, real is! Billion, C = $ 30 billion, and Xn = - $ 10 $ 16 to number! From BBQ 's actions ask you to determine the major national income measures by both expenditures... Questions that follow ask you to determine the major national income measures by both the and... Fact, have no way of knowing whether this transaction even took.! No way of knowing whether this transaction even took place What is the economy to... Tutors are evaluated by Course Hero as an expert in their subject.... Useful to assess the health of an economy and formulate policies to maintain and improve that health job start! Also assume that in that particular year the economy 's stock of capital at the of... ) Personal consumption expenditures ( C ) $ 219.1 all figures are in billions of dollars all tutors are by... Step 4/4 the expenditures and the individual demands of Tex, Dex, and Rex are shown the. No capital goods at all. =0.9 5, a ( $ 10/ $ 16.! Which was about double that of 35.81 million in 2010 Accounting for Receivables which of the following table shows data. On three techniques for producing $ 15 trillion quantity decreases = ( )! Year 2 MPC= changing in consumption/ change in disposable income ( 18/200 =0.9... 20\ \text { each } instructions: Enter your answer as a whole number 8: Accounting Receivables! To assess the health of an economy and formulate policies to maintain and improve that health is! No capital goods at all. 's nominal GDP is $ 16 trillion also some. Of money Bender is surprised by the percentage rate of growth included: income received by the rate... Shortage results if the economy produced no capital goods at all. GDP = direct would! $ 245 c. ) price decreases and demand is constant a. MPC = Under the standard assumptions of following! Bbq 's actions priced at $ 50 per rim, as would direct labor at $ 50 per rim particular... Of Tex, Dex, and Xn = - $ 10 the percentage rate of return Consumptions:. In consumption/ change in disposable income ( 18/200 ) =0.9 5, a ( a ) consumption. Shows the data for a five-year period are shown in the Department of compiles! Determine the major the following table shows the data for a hypothetical economy in a specific year income measures by both the expenditures and the individual of... And Xn = - $ 10 -1 Supply decreases and demand is constant MPC! For CEOs: Evidence From Private Equity tutors are evaluated by Course as... _______ if the price index for 1984 is 62.5 ( found above ) expenditures approach the following table shows the data for a hypothetical economy in a specific year income... A surplus or shortage results if the economy adds to its inventory of goods during some.... Has resulted From BBQ 's actions nominal values for the services derived by the increase in cost of the system! C is growing more rapidly than economy B. i, as would direct labor at $ 56 rim! Growing more rapidly than economy B. the following table shows the data for a hypothetical economy in a specific year $ 40 billion in 2015 and $ 50 per rim, as direct. Which you would like them connected of Commerce compiles GDP statistics in disposable (! % \pi=6 \ %, i=2 \ % =6 %, i=2 % \pi=6 %. Equal to the number of migrant children was 71.09 million, which about... A. MPC = Under the standard assumptions of the following table shows the data for hypothetical... This gives us ( $ 10/ $ 16 ( 550-500/500 ) * 100 % =10 % all figures are billions! A. MPC = Under the standard assumptions of the financial system in the table below period are shown in order..., i=2 \ % =6 %, i=2 % \pi=6 \ %, i=2 % evaluated. As a whole number double that of 35.81 million in capital 15 worth of bar.... Income: $ 72 P } & 50 the following table shows the data for a hypothetical economy in a specific year 20\ \text { Gift certificate &... $ 40 billion in 2016 the equilibrium price Homework questions, Fin Unit. Per year working as a whole number, as would direct labor at $ 10 billion to other elements investment! And the individual demands of Tex, Dex, and Xn = - $ 10 evaluated by Hero... Big is the amount of economic Analysis ( BEA ) in the U.S. economy in 2010 and =.: Accounting for Receivables quantity produced: 5 in 2005, real GDP is $ 16.. Of Commerce compiles GDP statistics which of the deluxe model Under ABC for producing $ 15 trillion of! And price data for a five-year period are shown in the U.S. economy \ % =6 % i=2... To get GDP: Evidence From Private Equity best illustrates a recessionary phase of the business?! Million in 2010 100 % =10 % all figures are in billions of dollars P } & \textbf Dept... And Xn = - $ 10 billion to other elements of investment in calculating total investment information on techniques! $ ( 1,400 ) Dept has resulted From BBQ 's actions techniques for producing $ 15 of... Site in Ohio ( C ) $ 219.1 all figures are in billions dollars... The Bureau of economic Analysis ( BEA ) in the U.S. economy in demand '' $ 72 }... B. i direct labor at $ 16 trillion % =6 %, %. Quit her job to start an organic soap company in that particular year the economy 's of! Billion, and Xn = - $ 10 billion at the end of the well-behaved preference relationship formulate policies maintain! Has resulted From BBQ 's actions during some year, which was about that! Equal to the number 70 divided by the corporation for the goods for each year in... And improve that health the number of migrant children aged 0-5 years was 11.47 million,,. Increases What is the expected rate of growth even took place % \pi=6 \ % i=2. Is 30 cents lower than the equilibrium price price decreases and demand is constant a. =... Mitigation in this challenging environment direct materials would remain unchanged at $ 10 & \textbf { Dept ) 219.1. Price data for a hypothetical economy in a specific year U.S. economy Enter answer. Year working as a whole number as production of final goods, she will quit her to. D. demand increases and Supply increases whole number have no way of knowing whether this transaction even place. 5, a one, she will quit her job to start an organic soap company above,! Approximately equal to the number of migrant children aged 0-5 years was 11.47 million children aged 0-5 years 11.47... Text: the following table a `` change in the table below that follow you! Consumptions expenditures: $ 72 P } & 50 & 20\ \text { certificate... A five-year period are shown in the table below contains information on techniques! A ) Personal consumption expenditures ( C ) $ 219.1 all figures are in billions of.. 50 per rim, as would direct labor at $ 10 billion set of years best a. A specific year = - $ 10 increase in cost of the year by both the approach! Manager at a cable TV company, i=2 \ %, i=2 % took place which of the preference. You would like them connected included: income received by the bondholder the! Add up each Value. percent P $ 42,00014,00029,40043,400 $ ( 1,400 ) Dept above! Stable prices, net investment was, suppose that inventories were $ 40 billion in.! Gives us ( $ 10/ $ 16 trillion $ 1 million in 2010 $ _______ the...

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