Median response time is 34 minutes and may be longer for new subjects. The Table below provides hypothetical data on macroeconomic accounts for three countries represented by A, B, and C, and measured in billions of currency units. The green line on the following graph shows the economy's long-term growth trend. Indicate which of the following variables are used by the Income approach to calculate GDP? All figures are in billions of dollars. Disposable Personal Income $8,169 Government Spending on Goods and Services $2,092 Net Exports - $501 Consumption Spending … Explicitly addresses Scarcity; Assignment Description. The Break-even point shows the company's number of sales at which the... Q: What Is Antitrust and Unfair Trade Practice Laws? Global Economic Prospects examines trends for the world economy and how they affect developing countries. Suppose GDP in this country is $1,250 million. Table … Use the following information to answer questions 1 and 2. The table shows hypothetical trade data for four countries. The following table contains data for a hypothetical closed economy that uses the dollar as its currency. 8. All figures are in billions of dollars. Recommended Placement: Micro or Macroeconomics course after Scarcity. Consider the macroeconomic data shown below for a hypothetical country’s economy. The income approach The following table shows macroeconomic data for a hypothetical country. ¾ how to use the model to analyze the macroeconomic effects of trade policies. View Homework Help - The following table shows data on a hypothetical countrys real GDP f.docx from ACCT 1232 at Adrian College. MACROECONOMIC THEORY ... bananas, and oranges, and that price (in dollars) and quantity (in pounds) data are given in the table below. Value $80 Category Personal consumption expenditures Purchases of stocks and bonds Net exports Government purchases Sales of secondhand items Gross investment 25 Instructions: Enter your answer as a whole number What is the country's GDP for the year? Billions Of Dollars $2,200 $1,887 $2,820 $300 $4,421 $6,200 Gross Private Domestic Investment Depreciation Fxports 2mports Government Purchases Of Goods And Services Personal Consumption Expenditures Indirect Business Taxes And Misc. Explain one reason why economic growth might be associated with a decrease in living standards. Suppose that this year a small country has a GDP of $100 billion. Enter the amount for consumption. As the data suggest, Oz produces only potatoes, and its monetary unit is the shekel. All figures are in billions of current dollars (that is, they are not adjusted for inflation). The total fixed cost for the plant is $5000 and the total... A: In case of multiple questions , we answer only the first question . All figures are in billions of dollars. Labor Requirements per Unit $$\begin{array}{lll}\hline & \text { New Zealand } & \text { India } \\\text { Per ton of wool } & 10 \mathrm{hours} & 40 \mathrm{hours} \\\text { Per hand-knotted rug } & 60 \mathrm{hours} & 80 \mathrm{hours}\end{array}$$ a. National Income Account Value (Millions of dollars) Government Purchases (G) 350 Taxes minus Transfer Payments (T) 455 Consumption (C) 700 Investment (I) 280 Table 23.7 provides some hypothetical data on macroeconomic accounts for three countries represented by A, B, and C and measured in billions of currency units. All figures are in billions of dollars. The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Using the expenditure approach, GDP for this country was $_____ billion. The following table shows the data for a hypothetical economy in a specific year. The table contains data for a hypothetical single-product economy. Calculate the trade balance and the net inflow of foreign saving for each country. Category Value Personal consumption expenditures $70 Purchases of stocks and bonds 30 Net exports-10 Government purchases 20 Sales of secondhand items 8 topic . The following table shows data for a hypothetical economy. The table below shows data for a hypothetical economy. Complete the following table by calculating national income, personal income, and disposable personal income for this country. Suppose GDP in this country is $1,540 million. In Table 23.7, private household saving is SH, tax revenue is T, government spending is G, and investment spending is I. Correct answers: 2 question: Calculating gdp from raw economic data: the following list shows macroeconomic data for a hypothetical country. With the complexity of modern economies and the lags inherent in macroeconomic policy instruments, a country must have the capacity to promptly identify any adverse trends in its economy and to apply the appropriate corrective measure. $75 billion. All figures are In billions of dollars. Use this information to answer the questions that follow. - [Instructor] In this video, I want to tackle an entire AP macroeconomics free response exercise with you. This cannot be done without economic data that is … The following table shows data on a hypothetical country's real GDP Suppose that an economy produces only apples, bananas, and oranges, and that price (in dollars) and quantity (in pounds) data are given in the table below. (Note: Be sure to enter your figures in billions of dollars.). The following table shows macroeconomic data for a hypothetical country. Billions of Dollars Gross private domestic investment Depreciation $1,700 $1,387 Exports $2,320 Imports $1,500 $3,921 Government purchases of goods and services Personal consumption expenditures Indirect business taxes and misc. 1 mark b. Global Economic Prospects - Forecasts. Suppose GDP in this country is $1,330 million. The following table shows macroeconomic data for a hypothetical country. Billions of Dollars Gross private domestic investment 120 Depreciation 35 Exports 60 Imports 55 Government spending 130 Personal consumption expenditures 325 Indirect business taxes (net of subsidies) 20 Personal taxes 90 Employee compensation 380 Corporate profits and FICA contributions 80 Rental income 25 Net interest 35 Proprietors' income 5 Transfer payments and other income 65   Using the expenditure or income approach, GDP for this country was $    billion. Check all that apply. Using the expenditure or income approach, GDP for this country was $, Complete the following table by calculating national income, personal income, and disposable personal income for this country. The following table shows the data for a hypothetical economy in a specific year. CONTEXT AND PURPOSE: Chapter 19 is the second chapter in a two-chapter sequence on open-economy macroeconomics. 600 On a graph that measures real GDP on the vertical axis and time on the horizontal axis, plot real GDP using the data in the table. The following table shows the aggregate supply and demand data for a country. One company controls every steel... A: Monopolistic competition is a situation of market where the practice of differentiating products on ... Q: ABC Company produces 100 pendants per day. Billions of Dollars Gross private domestic investment Depreciation $1,700 $1,387 $2,320 Exports $1,500 $3,921 $5,700 $741 $518 Imports Government purchases of goods and services Personal consumption expenditures Indirect business taxes and misc. Year Marginal propensity to save (mps) 2010 0.11 2011 0.09 2012 0.07 2013 0.05 2014 0.05 2015 0.04 (a) Explain one possible reason for the changes in the marginal propensity to save as shown in the table… Answer to: The following table shows macroeconomic data for a hypothetical country. 8. Explore raw data about the World Bank's finances - slice and dice datasets; visualize data; share it with other site users or through social networks; or take it home with a mobile app. Solution for The following table shows some national accounting data for a given year for a hypothetical country. The hypothetical information in the table shows what the values for real GDP and the price level will be in 2017 if the Fed does not use monetary policy.Which of the following policies makes sense if the Fed wants to keep real GDP at its potential level in 2017? Dollar amounts are all in constant-dollar terms. Calculate GDP. Corporate profits … Annual GDP Growth (%) Lebanon. Module Alignment:. How to solve: The following table shows macroeconomic data for a hypothetical country. Enter the amount for investment. The following table shows the data for a hypothetical economy in a specific year. Calculating GDP from raw economic data The following table shows macroeconomic data for a hypothetical country. B, and C and measured in billions of currency units. 450. All figures are in billions of dollars. This table shows data for a hypothetical economy in 2001 and 2002. In the economy described in the table, ... A nation's capital stock was valued at $500 billion at the start of the year and $575 billion at the end. Explain your answer with an example. 1. ¾ how to use the model to analyze political instability and capital flight. All figures are in billions of dollars. All figures in the table are in millions of dollars. Draw in potential GDP and show the peak, recession, trough, and recovery phases of this business cycle. The income approach The following table shows macroeconomic data for a hypothetical country. As such, it also measures the income earned from that production, or the total amount spent on final goods and services (less imports). The income approach The following table shows macroeconomic data for a hypothetical country. The net export component of GDP is equal to the value of exports (X) minus the value of imports (M), (X – M). a. Check all that apply. 1. Show more The following table contains data for a hypothetical closed economy that uses the dollar as its currency. all figures are in billions of dollars. Table 1 The stability of US Growth Period GrowthRate Period GrowthRate 1870–2007 2.03 1973–1995 1.82 1870–1929 1.76 1995–2007 2.13 1929–2007 2.23 1900–1950 2.06 1995–2001 2.55 1950–2007 2.16 2001–2007 1.72 1950–1973 2.50 1973–2007 1.93 Note: Annualized growth rates for the data shown in Fig. The table below concerns the money supply for the economy of the hypothetical country of Petasus. Consumption of private fixed capital in the year was $35 billion. Economic fluctuations and growth The following table shows data on a hypothetical country… following table are data for two different years: Year 2000 2010 Price of an automobile USD 50,000 USD 60,000 Price of a loaf of bread USD 10 USD 20 Number of automobiles produced 100 120 Number of loaves of bread produced 500,000 loaves 400,000 loaves Problem 2.7: Abby consumes only apples. Question:8. Assume that the economy of Country X has an actual unemployment rate of 7%, a natural rate of unemployment of 5%, and an inflation rate of 3%. ¾ how to use the model to analyze political instability and capital flight. Countries from The World Bank: Data. Billions of Dollars National Income   Personal Income   Disposable Personal Income, Indirect business taxes (net of subsidies). After going through the example, I will give you a separate set of data and ask you to do the same thing! The following table shows macroeconomic data for a hypothetical country. Q: Debra can make either 12 cakes or 16 cookies in 4 hours.Sam can make either 6 cakes or 12 cookies in... A: The given information is represented in the following table billion The following table shows macroeconomic data for a hypothetical country. 10. Nominal GDP ($ billion) Real GDP ($ billion) 2015 100 100 2016 105.3 102.3 a. Category Value Personal consumption expenditures $80 Purchases of stocks and bonds 30 Net exports -10 Government purchases 30 Sales of secondhand items Gross investment 25 Instructions: Enter your answer as a whole number. In Table $23.7,$ private household saving is $\mathrm{SH}$, tax revenue is $\mathrm{T},$ government spending is $\mathrm{G},$ and investment spending is I. a. Using the information above, calculate the rate of economic growth for the hypothetical economy. (Note: Be sure to enter your figures in billions of dollars.) Real GDP $20,000,000,000 $21,000,000,000. 1 Answer to Question The following table shows macroeconomic data for a hypothetical country. Billions of Dollars $2,300 Gross private domestic investment Depreciation Exports $1,987 $3,120 $200 $4,521 Imports Government purchases of goods and services Personal consumption expenditures Indirect business taxes and misc. The following table shows the hypothetical labor requirements per ton of wool and per hand-knotted rug, for New Zealand and for India. Table 23.7 provides some hypothetical data on macroeconomic accounts for three countries represented by A, B, and C and measured in billions of currency units. All figures are in billions of dollars. Question: The Following Table Shows Macroeconomic Data For A Hypothetical Country. Assuming stable prices, net investment was. Suppose you are given the following information about some hypothetical economy and its national income accounts (which nonetheless closely follows the NIPA data for 2007 III annualized). Year 2000 Year 2010 Good Quantity Price Quantity Price Apples 3,000 $2 4,000 $3 Bananas 6,000 $3 6,500 $2 Oranges 8,000 $4 9,000 $5 1. Finances. Calculate each of the following macroeconomic variables for Oz, being sure to give units. 450. The income approach The following table shows macroeconomic data for a hypothetical country. The following table shows real GDP from 1991 through 1999 for a hypothetical economy. Let’s do an example using data for a hypothetical economy. The following table shows macroeconomic data for a hypothetical country. Good economic data are a precondition to effective macroeconomic management. Refer to the table above. All figures are in billions of dollars. All figures are in billions of dollars. Find, compare and share the latest OECD data: charts, maps, tables and related publications … Browse by. Suppose GDP in this country is $1,250 million. The following table shows the data for a hypothetical economy in a specific year. All figures in the table are in millions of dollars. Use the blue points (circle symbol) to plot the real GDP in each of the years listed. The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Get an answer for 'What is the country’s GDP for the year in $ billion? Enter the amount for investment. Enter the amount for consumption. MACROECONOMIC THEORY Term Test #1 ... are as shown in the following table: Good Year 2005 Year 2010 Quantity Price Quantity Price Apples 2,000 $2 3,000 $3 Bananas 4,000 $3 6,000 $2 Oranges 6,000 $4 8,000 $5 Considering the year 2005 as the base year, the percentage increase in real GDP between 2005 and 2010 is gross private domestic investment = 110 depreciation = 30 exports = 55 imports = 40 government spending = 140 personal consumption expenditures = 400 indirect business taxes (net of subsidies) = 25 personal … The income approach The following table shows macroeconomic data for a hypothetical country. 8 1.56 1.3 4 2.38 4 2 5-20119 20-25 구이 25... 1. All figures are In billions of dollars. All figures are in billions of dollars. All Figures Are In Billions Of Dollars. Enter the amount for consumption. Enter the amount for consumption. Category Value Personal consumption expenditures $80 Purchases of stocks and bonds 30 Net exports -10 Government purchases 30 Sales of secondhand items Gross investment 25 Instructions: Enter your answer as a whole number. Billions of Dollars Gross private domestic investment Depreciation $1,700 $1,387 Exports $2,320 Imports $1,500 $3,921 Government purchases of goods and services Personal consumption expenditures Indirect business taxes and misc. S = private household saving; T = taxes; G= government spending; and I = investment.Calculate the Current Account balance for each country. ¾ how to use the model to analyze the macroeconomic effects of trade policies. Nominal GDP is measured in current ... 1,000,000,000. #1: Use Data to Explain Scarcity. The gap between exports and imports is also called the trade balance. The following table shows macroeconomic data for a hypothetical country. Consumption (C) 300 Investment (I) 50 Government purchases (G) 70 Government transfer payments (TP) 15 Taxes (T) 75 Exports (X) 10 Imports (M) 5 3.1. Saving and investment in the national income accounts The following table contains data for a hypothetical closed economy that uses the dollar as its currency. The table below provides macroeconomic data for a hypothetical economy. The following table shows macroeconomic data for a hypothetical country. 4 *P51920A0436* 2 The table below shows marginal propensity to save data for an economy. Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*. he Bureau of Economic Analysis is responsible for calculating Gross Domestic Product in the United States. In Table 23.7, private household saving is SH, tax revenue is T, government spending is G, and investment spending is I. Nominal GDP $30,000,000,000 $32,100,000,000. All figures are in billions of dollars. Table 23.7 provides some hypothetical data on macroeconomic accounts for three countries represented by A. The following table shows macroeconomic data for a hypothetical country. Determine if each nation has an open economy, a closed economy, a trade surplus, a trade deficit, or … The table contains data for a hypothetical single-product economy. The following table shows macroeconomic data for a hypothetical country. A. gross private domestic investment = 110 depreciation = 30 exports = 55 imports = 40 government spending = 140 personal consumption expenditures = 400 indirect business taxes (net of subsidies) = 25 personal … Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Find answers to questions asked by student like you, The following table shows macroeconomic data for a hypothetical country. View 2. All figures are in billions of dollars. Indicate which of the following variables are used by the Income approach to calculate GDP? Answer to: The following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars. The following table shows macroeconomic data for a hypothetical country. Billions Item of Dollars —————————— ———-Checkable deposits 2,400 Small time deposits 500 Currency 60 Large time deposits 1,000 Noncheckable savings deposits 950 Money market deposits accounts 300 Money market mutual funds 550 Price elasticity of demand refers to the responsiveness of quantity demand due to change in price... Q: Which situation is the best example of monopolistic competition? Table 1 National Accounting Data ($billions)… 13.7. All figures are in billions of dollars. The following table contains data for a hypothetical closed economy that uses the dollar as its curr… Show more The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Billions of Dollars $2,300 Gross private domestic investment Depreciation Exports $1,987 $3,120 $200 $4,521 Imports Government purchases of goods and services Personal consumption expenditures Indirect business taxes and misc. All figures are in billions of dollars. CONTEXT AND PURPOSE: Chapter 19 is the second chapter in a two-chapter sequence on open-economy macroeconomics. 2 marks Year Actual Output (billions of $) Potential Output (billions of $) Unemployment Rate ($ of labour force) 2002 402 404 7.1 2003 408 411 7.2 2004 415 415 6.3 2005 420 418 5.9 2006 422 420 6.0 2007 420 423 7.0 Real GDP in year 4 is. In year 1, red apples cost one dollar each, green Year Actual Output (billions of $) Potential Output (billions of $) Unemployment Rate (% of labour force) 2012 402 404 7.1 2013 408 411 7.2 2014 415 415 6.3 Actual Output (billions of $) Potential Output All figures are in billions of dollars. From this data I will graph both the Consumption Function and the Savings Function and calculate the MPC and the MPS. Billions of Dollars Gross private domestic investment Depreciation $1,700 $1,387 Exports $2,320 Imports $1,500 $3,921 Government purchases of goods and services Personal consumption expenditures Indirect business taxes and misc. Real GDP in year 4 is. Consider the following data for a hypothetical economy to answer the questions below. Suppose GDP in this country is $1,330 million. The table below shows data for a hypothetical economy. Economic data issues. all figures are in billions of dollars. Use the data and your knowledge of the first and second national income accounting identities to answer the questions. Consumption (C) 300 Investment (I) 50 Government purchases (G) 70 Government transfer payments (TP) 15 Taxes (T) 75 Exports (X) 10 Imports (M) 5 3.1. Correct answers: 2 question: Calculating gdp from raw economic data: the following list shows macroeconomic data for a hypothetical country. Economic fluctuations and growth The following table shows data on a hypothetical country's real GDP from 1980 through 1988: asked Oct 31, 2019 in Economics by daisy. A B C SH 700 500 600 T 00 500 500 G 600 All figures are in billions of dollars. Data on macroeconomic accounts for three countries - Subject Economics - 00479668 Gross domestic product (GDP) is the standard measure of the value added created through the production of goods and services in a country during a certain period. Be sure to plot from left to right. Here are some macroeconomic data for the country of. Suppose GDP in this country is $1,330 million. If an individual has a lower cost of pr... Q: Is a larger GDP always better than a smaller GDP? In Table 23.7, private household saving is SH, tax revenue is T, government spending is G, and investment spending is.