Question

The market value for each type of expenditure is given for a hypothetical country in the table above. Calculate the gross domestic product of this country.
O $3,900

O $4,100

O $5,100

O $4,000

Answer 1

Answer:

Economic Performance Unit Test

1. -Notebooks sold to students.

-French fries sold to customers at a restaurant.

2. - $4,100

3. - The market value of new factories built this year.

4. - Real GDP fluctuates but follows an upward-sloping trend line.

5. - 100%

6. - 6.5 billion dollars

7. - 1.10%

8. Unemployment associated with workers who are between jobs.; Frictional unemployment

Unemployment resulting from mismatches between employer needs and employee skills.; Structural unemployment

Unemployment associated with the highs and lows of the business cycle.; cyclical unemplyment

9. -17%

10. - The economist is correct. Since more people are entering the workforce than are leaving it, a lack of jobs growth could result in a higher level of unemployment, even if the growth is not negative.

11. -4.8%

12. - An increase in the price of oil has reduced supply of all goods and services that use oil as an input.

- A tornado destroys factories and lowers supply levels throughout the economy.

13. housing costs,clothing cost utilities costs are Suuplemental Poverty Measure

food cost is both.

14.- negative income tax

15. - After practicing at home, a dishwasher has doubled the number of dishes he can wash in a single shift.

-After adopting a new typing strategy, a data scientist is able to provide more data services to clients.

16. - GDP increased from 200 billion dollars to 400 billion dollars, while total labor hours increased from 50 million to 75 million.

17. Essay

Explanation:

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Answer 2

Answer: 4,100

Explanation: the equation for calculating GDP is (C+I+G+NX) first you would subtract the exports and imports to get 100, then you add 2,000+1,000+1,000+100 which equals 4,100