purchased by Federal Express to track shipments Answer: D Diff: 2 Topic: Gross Domestic Product Skill: Conceptual AACSB: Reflective Thinking 4) Which of the following is a good or service counted in GDP? A) tires Ford buys to put on a car B) a used tire you buy for your personal car C) a new tire you buy for your personal car D) used tires bought by a used car dealer to put on a car on his lot Answer:
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investment is a quantity measured per unit time‚ so it is a flow variable. See Section 2-1. 3 of 30 Gross domestic product (GDP) is A. a stock. B. a flow. C. both a stock and a flow. D. neither a stock nor a flow. 0 out of 1 Incorrect. The correct answer is B. GDP is a quantity measured per unit time‚ so it is a flow. See Section 2-1. 4 of 30 GDP measures A. expenditure on all final goods and services. B. total income of everyone in the economy. C. total value added
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are different concepts of National Income‚ namely; GNP‚ GDP‚ NNP‚ Personal Income and Disposable Income. Gross National Product (GNP) GNP at market price is sum total of all the goods and services produced in a country during a year and net income from abroad. GNP is the sum of Gross Domestic Product at Market Price and Net Factor Income from abroad. GDP at market price + Net Factor Income from Abroad = GNP at market price While calculating GNP‚ the final goods and services of the following are considered:
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NSS Exploring Economics 5 Chapter 1 Measurement of economic performance (I) – GDP and GNP Questions P.2 Think it over 1. Hong Kong people are hardworking and productive. How do we measure our total output? 2. Our logistics industry is important to our economy. How do we measure its contribution to our economy? P.3 Test yourself 1.1 Are the following items stocks or flows? a. The number of Cokes in a refrigerator b. Your savings deposit in a bank. c. Output of toys per day d. Birth rate of
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should be included in the national output should be $60‚ not the sum of all those numbers; $100. The method of National Income by Output‚ Value Added method: GDP at market price = Value of Output in an economy in a particular year - Intermediate consumption NNP at factor cost = GDP at market price - Depriciation + NFIA (Net Factor Income from Abroad) - Net Indirect Taxes [6] The Income Approach The Income Approach focuses on finding the total output
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TABLE OF CONTENTS 1.0 INTRODUCTION “Make an assessment of the coherence of the developmental state theory. Give practical examples from Botswana”. What this question asks is to make assessment of coherence of the developmental state theory to Botswana and giving examples from Botswana. This paper makes an assessment of Botswana as developmental state. The main aim of this paper is to establish if Botswana is a developmental state‚ if yes what mainly drives it and what are its characteristics
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faces structural unemployment where people loose their jobs due to introduction of new technology or relocation of the company‚ these economic disruptions have resulted in high crime rates‚ low production and income as well as lost human capital. The NDP has been put in place to solve the problem of unemployment‚ and if supported well there can be job creation because they promise on expanding work programme‚ reduce costs of doing business and support entrepreneurship. Body South Africa faces the
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domestic product (GDP) and gross national product (GNP) • GDP and GNP differ in their treatment of international transactions. • GNP includes earnings of Bangladeshi corporations overseas and Bangladeshi residents working overseas: GDP doesnot. • Conversely‚ GDP includes earnings from current production in Bangladesh that accrue to foreign residents or foreign owned firms: GNP excludes those items. • For example‚ profits earned in Bangladesh by a foreign owned firm would be included in GDP but not in
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Chapter 7 Quiz: AP Economics 1. A nation’s gross domestic product (GDP): A. is the dollar value of all final output produced within the borders of the nation. B. is the dollar value of all final output produced by its citizens‚ regardless of where they are living. C. can be found by summing C + In + S + Xn. D. is always some amount less than its C + Ig+ G + Xn. 2. A nation’s gross domestic product (GDP): A. can be found by summing C + Ig + G + Xn. B. is the dollar value of the total output
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Bureau of Economic Analysis (BEA)‚ conducted an analysis that reflects the changes in GDP. During this time the Nominal GDP was much greater than the Real GDP. Expenditures Approach to Calculating GDP -638175208978500From 2013 through 2014 the Nominal GDP was greater because the values during that time were not adjusted. It is understood that Nominal GDP is the value of GDP in current dollar and Real GDP is the value of those dollars after adjustments or changes in prices. For the most recent
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