Receive explanations & answers from verified tutors. It shows that people are demanding and spending more on goods and services. I need some examples of economic decisions made by individual, family and the country. Question: We Have The Following Data For A Hypothetical Open Economy: GNP = $12,000 Consumption (C) = $7, 200 Investment (l) = $1, 400 Government Purchases (G) = $1, 400 Tax Collections (T) = $1, 200 What Is The Value Of Total Savings S? From 1975 to 1976, a. If the GDP of a country increases year after year, it is a sign that the economy is doing well.

Refer to the table above. Log in here. Government (G) = Government spending on... Our experts can answer your tough homework and study questions. will help you with any book or any question. © copyright 2003-2020 Services, GDP Deflator: Definition, Formula & Example, Working Scholars® Bringing Tuition-Free College to the Community. What is a company profile? Enjoy eNotes ad-free and cancel anytime.

You are given the following data for a hypothetical economy: Personal Consumption Expenditure $600 Exports 75 Government Purchases of Goods and Services 200 Construction of New Homes and Apartments 100 Sale of Existing Homes and Apartments 200 Imports 50 Beginning of Year Inventory 100 End of Year Inventory 125 Business Fixed Investment 100 Government Payments to … G refers to the total government expenditure.

If the oranges were grown and the jam produced in... Two Identical countries,Country A and Country B,... 1. Given the following data for a hypothetical economy in a given year: Category Value Personal consumption expenditures $50 billion Purchases of stocks and bonds $30 billion Net exports ?$10 billion Government purchases $30 billion Sales of secondhand items $8 billion Gross investment $35 billion What is the country’s GDP for the year?

Sciences, Culinary Arts and Personal It can either be a positive or negative value. GDP is known as the reflector of economic wellness. ©2020, Inc. All Rights Reserved. 1. I refers to the total money used on investments in equipment, real estate, and inventory. All rights reserved. Given the following data for a hypothetical economy in a given $ (Enter Your Answer As An Integer. All figures are in billions of dollars.

The government also contributes to the GDP by purchasing new goods and services from local businesses.

Given the following data for a hypothetical economy in a given year: Personal consumption expenditures $60 billion, Purchases of stocks and bonds $30 billion. The most common method for calculating the GDP is the expenditure approach. Investment (I) =This is a gross private investment. What is he trying to say about the relationships with the actors an the ideoligies? Our summaries and analyses are written by experts, and your questions are answered by real teachers. What is John Dunlop Systems Theory in Industrial Relations about?

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Question: Given the following data for a hypothetical economy in a given year: Category Value Personal consumption expenditures $60 billion Purchases of stocks and bonds $30 billion Pay at the end, only if you are completely satisfied. It is the monetary value of all private spending on durable and non-durable goods and services.

year: An easy way to get quality homework answers. Create your account. Uploading copyrighted material is not allowed. All figures are in billions of dollars. Gross Domestic Product(GDP) is the measurement in the monetary value of all the manufactured products and services within an economy in a specific time period. All other trademarks and copyrights are the property of their respective owners.

C refers to the total consumption in an economy. Consumption (C) = Personal consumption expenditures. Top subjects are Business, Literature, and History. Copyright © 2019 School Solver - All Rights Reserved, After payment, your answer will be immediately delivered to your email (so don't forget to check your spam folder in case you don't see anything! Start your 48-hour free trial to unlock this answer and thousands more. Top subjects are History, Literature, and Social Sciences, Top subjects are History, Business, and Science, Latest answer posted March 08, 2010 at 12:27:11 PM, Latest answer posted May 30, 2016 at 12:15:48 AM, Latest answer posted March 08, 2010 at 12:03:37 PM, Latest answer posted May 10, 2010 at 9:53:38 AM, Latest answer posted May 13, 2010 at 11:45:00 AM. answer! The following table shows the data for a hypothetical economy in a specific year. Who are the experts?Our certified Educators are real professors, teachers, and scholars who use their academic expertise to tackle your toughest questions. Explain political environment of business? If real GDP is $8.1 million and nominal GDP is... National Income Accounting in Economics: Definition, Uses & Equation, The Circular Flow of Income: Definition & Model, Crowding Out in Economics: Definition & Effects, Measuring the Money Supply: Explanation and Examples, Gross Domestic Product: How to Calculate Real GDP, What Is Inflation Rate? Given the following data for a hypothetical economy in a given year: Category Value Personal consumption expenditures: $50 billion Purchases of … NX refers to net exports. What is the role of business in the economy? The formula is as follows: GDP = C + G + I + NX. Category Value Personal consumption expenditures $70 Purchases of stocks and bonds 30 Net exports -10 Government purchases 20 Sales of … ). The Republic of New Africa had a GDP of $1... a. Refer to our DMCA policy in our TOS for more information. What must I include in it?

Educators go through a rigorous application process, and every answer they submit is reviewed by our in-house editorial team. Earn Transferable Credit & Get your Degree, Get access to this video and our entire Q&A library. Include A Minus Sign If Necessary.) The Gross Domestic Product, or GDP, refers to the total value of goods and services produced within a country in a given year.

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