During 2009, the leather company produced enough leather for 20 couches. The couch manufacturingcompany bought 80% of that leather for $16,000 and promised to buy the remaining 20% for $4,000 in2010. The couch manufacturing company produced 16 couches during 2009 and sold each one during thatyear for $3,000. What was the contribution to GDP for 2009?Select one:a. $64,000O b. $68,000O C. $48,000O d. $52,000 CO%24Calculate GDP using the information in the table below:SBillionsDurable goodsNonresident investment750Government purchase of goods 1000ExportsGovernment purchase of services 350Residential investmentServices009ImportsChange in business inventoriesNondurable goodsSelect one:O a. 3340O b. 2340Oc. 3760pe here to search近+66(564&%233.

since you have asked multiple questions and according to our policy we can only solve the question…

During 2009, the leather company produced enough leather for 20 couches. The couch manufacturing company bought 80% of that leather for $16,000 and promised to buy the remaining 20% for $4,000 in 2010. The couch manufacturing company produced 16 couches during 2009 and sold each one during that year for $3,000. What was the contribution to GDP for 2009? Select one: O a. $64,000 O b. $68,000 c. $48,000 O d. $52,000

During 2009, the leather company produced enough leather for 20 couches. The couch manufacturing company bought 80% of that leather for $16,000 and promised to buy the remaining 20% for $4,000 in 2010. The couch manufacturing company produced 16 couches during 2009 and sold each one during that year for $3,000. What was the contribution to GDP for 2009? Select one: O a. $64,000 O b. $68,000 c. $48,000 O d. $52,000

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter19: Measuring Economic Performance

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

Explain briefly whether each of the following would cause GDP to overstate or understate the degree of change in the broad standard of living. The environment becomes dirtier The crime rate declines A greater variety of goods become available to consumers Infant mortality declines
In 2018, GM produced 30 cars, of which 25 were sold in 2018 and 5 were added to its inventories. The market value of the cars in 2018 was $10,000 per unit. What is the value of GM's output that will be included in the 2018 GDP? O $250,000 O $50,000 O $300,000 O $350,000
During 2008, The rawhide company produced enough rawhide for 1000 dog chews. The dog chew manufacturing company bought 75% of that rawhide for $1500 and promised to buy the remaining 25% for $500 in 2009. The dog chew manufacturing company produced 750 dog chews during 2008 and sold 500 during that year for $5. What was the contribution to GDP for 2008? Select one: O a. $4250 O b. $5250 O c. $5750 O d. $2500 O e. $3750 Next page page
Production Year 2 50 120 Year 1 $1.00 $0.60 Year 2 $1.20 $0.60 Year 1 Good X 50 Year 3 60 Year 3 $1.20 $1.00 Good Y 100 140 1-Assume that this economy produces onlytwo goods Good X and Good Y. The value for this GDP in year 1 is 2-Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 3 is 3-Assume that this economy produces only two goods Good.X and Good Y. The value for this economy's nominal GDP in year 2 is 4-Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's real GDP in year 2 is 5-Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's GDP deflator in year 1 is 6- Assume that this economy produces only two goods Good X'and Good Y If year 1 is the base year, the value for this economy deflator in year 2 is 7-Assume that this economy producesonlytwo goods Good Iand Good YIf year…
Time left 0:56:2 During 2009, the leather company produced enough leather for 20 couches. The couch manufacturing company bought 80% of that leather for $16,000 and promised to buy the remaining 20% for $4,000 in 2010. The couch manufacturing company produced 16 couches during 2009 and sold each one during that year for $3,000. What was the contribution to GDP for 2009? Select one: O a. $48,000 O b. $52,000 O c. $64,000 O d.. $68,000 Next page page on this page
Refer to the Table. Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 3 is Year 1 Good X 60 Good Y 100 OA) $204. OB) $222. OC) $250. OD) $270. Production Year 2 80 110 Year 3 100 130 Year 1 $1.00 $0.80 Prices Year 2 $1.00 $0.90 Year 3 $1.40 $1.00
During 2008, The rawhide company produced enough rawhide for 1000 dog chews. The dog chew manufacturing company bought 75% of that rawhide for $1500 and promised to buy the remaining 25% for $500 in 2009. The dog chew manufacturing company produced 750 dog chews during 2008 and sold 500 during that year for $5. What was the contribution to GDP for 2008? Select one: O a. $5750 O b. $3750 O c. $2500 O d. $4250 O e. $5250
Question 1 1 points Save Answer A company produced 8 dishwasher machines in 2015. The company sold 6 to households in 2015 and added 2 to its inventories. The market value of the dishwasher machines in 2015 was $200 per unit. What is the value of this company's output that will be included O $400 O $1,400 O $1,600 O $2,000 the 2015 GDP?
When inflation falls, people Select one: O a. make more frequent trips to the bank and firms make less frequent price changes O b. make more frequent trips to the bank and firms make more frequent price changes O. make less frequent trips to the bank and firms make more frequent price changes O d. make less frequent trips to the bank and firms make less frequent price changes
Real GDP is best described as: A measure of a nation's output and employment holding wages constant. A measure of a nation's output holding prices constant. A measure of a nation's output at the current level of prices. OOOO. A measure of a nation's prices holding output constant. A measure of a nation's prices at the current level of output. A Moving to the next question prevents changes to this answer. E JUL 19 tv 10 O A
The table below includes data for a one-year period required to calculate GDP from the income side for a teeny-tiny economy. Gross investment expenditure Wages and salaries Consumption expenditure Interest and investment income Business profits Depreciation Indirect taxes less subsidies Net exports TABLE 5-4 $402.00 $1741.00 $1711.60 $1811.40 $1910.80 $1840.40 O $2004.80 $1302.40 $99.40 $70.40 $199.20 $175.20 $94.00 Refer to Table 5-4. What is the value of net domestic income at factor cost?
The following table shows the goods produced in 2020 and 2023. Use this table to answer the following question. Shirts Shoes Hats O $18,500 O $29,250 O $33,700 $25,500 Price ($) 50 90 2020 35 Quantity 100 What is the nominal GDP of 2023? 150 200 Price ($) 60 110 30 2023 Quantity 120 200 150