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FM wP

FM w.

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Ronald Prasad verified

Numerade educator

Ignoring transaction charges, which of the following is included in GDP computation? A) The purchase of stocks and bonds. B) The sale of a used car. C) A newly constructed house. D) All of the above. E) None of the above.

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Ronald Prasad verified

Numerade educator

Goods that are produced in the current period are _______. A) included in GDP as consumption if they are unsold. B) included in GDP as inventory if they are unsold. C) excluded from GDP if they are unsold. D) excluded from GDP regardless of whether they are sold or not. E) None of the above.

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Benjamin Densmore verified

Numerade educator

Which of the following will cause real GDP to grow over time? A) A rise in the amount of labor used in the production process. B) A rise in the equipment purchased by firms. C) A rise in price level. D) (A) and (B). E) All of the above.

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Benjamin Densmore verified

Numerade educator

MCQ3 Under expenditure method, the value of oranges used in the production of orange juice for retail purposes should not be added to the final production when measuring GDP. A) True B) False

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Benjamin Densmore verified

Numerade educator

MCQ1 GDP is the market value of all final goods and services sold within a country. A) True B) False

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Benjamin Densmore verified

Numerade educator

Given the following information: 70 million people are working. 10 million people are not working but looking for a job. 20 million people are not working and had not been looking for a job. 40 million people are under age 16. 2a) Solve for the unemployment rate % (correct to 2 deci places):

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Ronald Prasad verified

Numerade educator

2023 GDP AT 2020 MARKET PRICES ? Private Consumption Expenditure 97,034.5 Government Consumption Expenditure 25,108.2 Gross Fixed Capital Formation 66,530.4 Changes in Inventories 6,151.1 Exports of Goods & Services 606,821.9 Imports of Goods & Services 550,682.8 Statistical Discrepancy 410.7 2023 GDP AT CURRENT MARKET PRICES ? Compensation of Employees 113,000 Gross Operating Surplus 133,000 Taxes Less Subsidies on Production 19,400 Statistical Discrepancy 3700 1e) Solve for GDP deflator in 2023 (correct to 2 deci places):

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ANSWERED

Ronald Prasad verified

Numerade educator

2023 GDP AT 2020 MARKET PRICES ? Private Consumption Expenditure 97,034.5 Government Consumption Expenditure 25,108.2 Gross Fixed Capital Formation 66,530.4 Changes in Inventories 6,151.1 Exports of Goods & Services 606,821.9 Imports of Goods & Services 550,682.8 Statistical Discrepancy 410.7 2023 GDP AT CURRENT MARKET PRICES ? Compensation of Employees 113,000 Gross Operating Surplus 133,000 Taxes Less Subsidies on Production 19,400 Statistical Discrepancy 3700 1a) Solve for GDP at 2020 market prices in 2023:

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