"The lorax" APHGWhat type of agriculture would harvesting truffula trees be?
1 answer:
You might be interested in
Answer:
a) The nominal GDP in 2018 is $1600,000,000
b) Expenditures and income within the economy should balance
c) GDP deflator pertains to all produce goods and services while CPI deflator covers only goods and services bought by consumers
d) The real GDP is $1,000,000,000
e) Increased by $65 million
Explanation:
a) The equation for finding the GDP is presented in the following equation;
GDP = Consumption + Investment + Government Spending + Net exports
That is;
GDP = C + I + G + (X - IM)
Therefore, the GDP = 1,000 + 400 + 300 - 100 = 1,600
Hence the nominal GDP in 2018 = $1,600,000,000
b) Here we have the income approach to GDP is premised on the fact that the economy expenditures should balance the income generated by the economic production of goods and services within the economy.
c) The difference between CPI and GDP deflator is that GDP deflator takes into account the prices of services and goods produced while on the other hand, the CPI deflator accounting is based only on the prices of goods and services which customers bought.
d) Here we have;
Therefore, where, the GDP Deflator = 160 we have;
Hence;
The real GDP = $1,000,000,000
e) The GDP in the scenario will be calculated by the final goods approach such that the countries GDP will be calculated based on the final sales by the bakeries, that is an increase of $65 million.
Answer:
(a) Please find attached, the required graph showing the equilibrium price at $50 per barrel
(b) There will be a shortage
(c) Please find attached, the graph showing change in demand due to increased supply from the new oil well
(d) When there is an increase in the price of gasoline operated automobiles, there would be a downward shift in demand while supply would remain constant, and the equilibrium price will decrease
(e) The combined effect will be a further reduction in the price per barrel
Explanation:
The equilibrium price
(a) Please find attached, the required graph
(b) As shown on the graph, in a competitive market, at a price of $40 per barrel, there will be a shortage in the market due to the amount of money available will be more than the total price of the number of barrel for sale, because the equilibrium price at which the amount of money available in the market is equal to the total price of the barrels supplied gives the amount of money people a willing and able to spend on a barrel
(c) If new oil is discovered, the number of barrels supplied will be more than the amount of money available to purchase a barrel and the equilibrium price will drop
(d) When there is an increase in the price of gasoline operated automobiles, there would be a downward shift in demand while supply would remain constant, and the equilibrium price will decrease
(e) If both oil is discovered and there is an increase in the price of as operated vehicles, the result will be a further reduction in the price of a barrel of oil
