In an imaginary economy, the size of GDP is 30 million dollar. If consumption is 18 million, investment is 7 million, government purchase is worth 4 million and export worth 4 million. Calculate the value of imports
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In an imaginary economy, the size of
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- Calculate exports of firm A if its value added is $5000 million, domestic sales is $3200 and purchase made by firm A is $1000When Americans buy goods produced in Canada, Canadians earn income from American expenditures. Does the value of this Canadian output and American expenditure get counted under the GDP of Canada or the United States? Why?Why is GDP and GNP converted to US dollar
- If the following is true, what is the nations GDP? Consumption 7.9 billion Government Spending 6.1 billion Exports 10 billion Imports 9 billion Investment 4.5 billion $19.5 billion $37.5 billion $17.5 billionHow does the GDP deflator deal with imports?Net exports are –Php114 billion and exports are Php857 billion. What are imports?
- The table below shows the values for several different components of GDP. Billions of Dollars Category Personal consumption expenditures Net foreign factor income Transfer payments $ 265 4 14 Rents 14 Consumption of fixed capital (depreciation) Statistical discrepancy Social Security contributions Interest 19 16 12 14 Proprietor's income Net exports Dividends Compensation of employees Taxes on production and imports Undistributed corporate profits 25 14 16 243 10 13 Personal taxes 18 11 Corporate income taxes Corporate profits Government purchases Net private domestic investment Personal saving Imports 40 54 25 12 7.What is GDP (50 words only)What term describes the total value of all goods and services produced within a country's borders over a specific time period? A. Gross Domestic Product (GDP) B. Net Export C. Consumer Price Index (CPI) D. Purchasing Power Parity (PPP)
- As an economist with the World Bank you have been asked to measure the Gross Domestic Product for the US for 2019. You are told that the private consumption, gross domestic investment, government purchases and exports all add up to $ 24 trillion. You later learn that imports to the US in 2019 were $4 trillion. To get GDP, you should A. Ignore the $ 4 trillion because exports have already been included in the $ 24 trillion B. Add $ 4 trillion to $24 trillion because imports are used as inputs in the production of other goods in the US C. None of the above D. Subtract $4 trillion from $24 trillion because imports are not part of US domestic outputWhy do we subtract import spending from total expenditures while calculating the GDP?Calculate net exports of Brazil if the export were $780 million and imports were $600 million