Which of the following does NOT affect potential GDP? O A. the quantity of capital and human capital O B. the quantity of land and natural resources O C. the quantity of labor employed O D. the amount of entrepreneurial talent available O E. the quantity of money

Which of the following does NOT affect potential GDP? O A. the quantity of capital and human capital O B. the quantity of land and natural resources O C. the quantity of labor employed O D. the amount of entrepreneurial talent available O E. the quantity of money

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

Related questions

Q: a) Elucidate how an economy’s income must always equal its expenditure.

A: Hi, thanks for the question. As per the guidelines we are allowed to attempt to the first question.…

Q: Consider how each of the following events is likely to affect real GDP. Do you think the change in…

A: The countries around the world work upon the basis of the production of the goods, services, assets,…

Q: You are given the following information about an economy: $millions Derive the following: (i)…

A: We have to find national income, net investment, Personal income, disposable income, and household…

Q: Once more, consider the economy of Economia. If households started buying more houses and firms…

A: When talking about GDP, any change in buying behavior of households and firms will have a…

Q: The following table shows the data for a hypothetical economy in a specific year. All figures are in…

A: GDP is the production of goods and services within a country at point of time here we calculate the…

Q: I need help with answering these four questions - why is a large GDP is a good thing for the…

A: Answer: GDP: GDP refers to the value of goods and services produced within the domestic territory of…

Q: following table shows data on consumption, investments, exports, imports, and government…

A: GDP measures the market value of goods and services produced in an economy within a given period of…

Q: What components of GDP (if any) would each of thefollowing transactions affect? Explain.a. Uncle…

A: GDP is all final goods and services produced in a country during a year. There are four components…

Q: a. Suppose nominal GDP of a small economy in 2012 was $43 billion, the nominal GDP in 2018 was $96…

A: Given : Nominal GDP - 2012= $43 billion 2018=$96 billion Consumer Price Index : 2012=100 2018=180…

Q: Give an example of something that would increase GDP but would be considered undesirable and explain…

A: An increase in GDP could raise people's living standards and improve their quality of life. GDP is a…

Q: The table below gives date about the economy of countryX, answer the question below given the…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: a. The popularly known sum "C+l+G" cannot be a measure of GDP. Explain. [Hint: To make the formula…

A: The GDP is the final value of the goods which are produced domestically which are being produced…

Q: If the United States decides to include the underground economy as part of their GDP calculation,…

A: Underground Economy:- Transactions of products or services not disclosed to the government and hence…

Q: 20. If both the production of goods and services increase and prices rise, then the change in…

A: Answer: option d Explanation: If the production of goods and services increases and the prices rise…

Q: Which of the following is included in the expenditures approach to GDP? Select one: CA. expenditures…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: This question examines the expenditures approach to calculating GDP. You will use data on different…

A: Gross domestic product(GDP) measures the money value of all final goods and services produced in an…

Q: Now, from our class discussions I created an example that you inherited the company, --let’s called…

A: Gross Domestic product (GDP) is the sum total of goods and services produced and traded with in the…

Q: Question 11 When C + Ig = GDP in a private closed economy, S = Ig and there are no unplanned changes…

A: True

Q: Gross Domestic Product Explain how net exports affect the US economy. Describe both positive and…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Sen & t Imagine that a country produces only three goods: apples, bananas, end cerrots The quantties…

A: a.…

Q: What happens to disposable personal income if tax rates increased? How could nominal GDP increase…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Q: Explain the income approach to computing GDP in a Real-World Economy. [Be sure to explain each of…

A: GDP is the total worth of all final goods and services produced within a country's geographic limits…

Q: A) Elucidate how an economy’s income must always equal its expenditure

A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only the first…

Q: 2016 2017 2018 PQ 400 1,5 600 1,5 600 P Q P Q 1 2 300 2 5 100 8 onion Tomato 500 2 650 Реррer 1.…

A: The gross domestic product (GDP) refers to the market value of all the finished goods and services…

Q: What is meant by potential GDP?

A: The total monetary or market value of all finished goods and services produced within a country's…

Q: Need asap please... If the U.S. government wanted to, it could just say that everyone who is…

A: Gross Domestic Product (GDP) is a basic metric for measuring well-being. The market worth of all…

Q: Suppose an economy has two years worth of data, years 1 and 2. Sup- pose there are also two goods,…

A: Nominal GDP is calculated as the sum of the product of the price and the quantity of different…

Q: A farmer grows wheat, which she sells to a miller for $100. The miller turns the wheat into flour,…

A: (a)GDP can be depicted as the final market value of all the finished goods & services in an…

Q: Hint: Add the amount of money spent by buyers of final goods and services. Which of the following…

A: The expenditure method starts with money spent on goods and services. The expenditure approach is a…

Q: The table shows some of the items in an economy's National Income and Product Accounts. Calculate…

A: Below is the calculation of national income: *National Income = GNP - Depreciation National Income…

Q: SDP for the Calculate the four components of expenditure and Instructions: Enter your responses as…

A: Gross Domestic Product (GDP) is the value of final goods and services produced in the domestic…

Q: 2015 2016 2017 P P P Onion 1,2 400 2,5 400 1,5 2,5 600 Tomato 1 320 200 4 400 Реpper 4 50 12 50 14…

A: Gross domestic product is the market value of all the services and finished goods being produced…

Q: . The participation of women in the U.S. labor forcehas risen dramatically since 1970.a. How do you…

A: GDP is a macroeconomic measure used in the computation of the aggregate total output produced in an…

Q: 1. a. Write the components of GDP (from the table) according to the expenditure method. 1. b. By…

A: a. According to the Expenditure method, the components of GDP are : Consumption Investment…

Q: Find the consumption for a country if the GDP is $700 million, investment =$300 milion; government…

A: Gross domestic product (GDP): - GDP is the market value of all final goods and services produced in…

Q: Refer to the table (all figures in billions of dollars). The national income (NI) for this economy…

A: Gross Domestic Product is the summation of the money value of all the final goods and services…

Q: Consider an economy of a nation that has the following aggregate expenditure. 1300- 1040- 780- 520-…

A: AE stands for aggregate expenditure. It is the sum of consumption, investment, government spending,…

Q: What impact would each of following have in on real gdp ?would economic well being increase or…

A: Answer: (A). If the average, people in a country decide to increase the number of hours they work by…

Q: So far, we have learned to measure real GDP, but how do we end up with that real GDP? Of all of the…

A: The inflationary gap is the difference between the actual level of real gross domestic product (GDP)…

Q: Say's law explains the short-run differences between actual GDP and potential GDP. Select one: O…

A: Potential GDP basically refers to a measure of an economy's maximum, ideal output, which includes…

Q: QUESTION 13 Consider the scenario in the table below for two economies, Economy D and Economy E.…

A: According to the information provided above : Production function : Y = A*KakN Change in Capital :…

Q: a. Calculate the GDP in this economy using the productionof-final-goods approach. b. Calculate the…

A: * ANSWER ,:-

Q: Which definition best describes real GDP? a)the production of goods and services valued at current…

A: The Gross Domestic Product is the summation of the money value of all the final goods and services…

Question

Which of the following does NOT affect potential GDP?
A. the quantity of capital and human capital
B. the quantity of land and natural resources
O C. the quantity of labor employed
O D. the amount of entrepreneurial talent available
O E. the quantity of money
OO O O

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Would you usually expect GDP as measured by what is demanded to be greater than GDP measured by what is supplied, or the reverse?
Last year, a small nation with abundant forests cut down 200 worth of trees. It then turned 100 worth of trees into 150 worth of lumber. It used 100 worth of that lumber to produce $250 worth of bookshelves. Assuming the country produces no other outputs, and there are no other inputs used in producing trees, lumber, and bookshelves, what is this nations GDP? In other words, what is the value of the final goods the nation produced including trees, lumber and bookshelves?
U.S. macroeconomic data are among the best in the world. Given what you learned in the Clear It Up 'How do statisticians measure GDP?', does this surprise you, or does this simply reflect the complexity of a modern economy?
What are the main components of measuring GDP with what is demanded?
What are the two main difficulties that arise in comparing different comparing GDP?
Which of the following does not contribute to determining the potential GDP? a. The price level O b. The capital stock O c. Current technology O d. The size of the labor force
What impact would each of following have in on real gdp ?would economic well being increase or decrease as a result? A. Averege, people in a country decide to increase the number of hours they work by 5%. b. Spending on Homeland security increase in response to terrorist attack
a. Consider an economy which produces and sells, among a host of other things, 100 million T‑shirts a year. The average T‑shirt begins life when a farmer plants seeds she put away last year, waters them, and harvests the cotton, then sells the cotton to a mill for $0.75, which sells the fabric to a T‑shirt factory for $1.50, which sells its T‑shirts to a wholesaler for $5, who sells it to Nordstrom for $10, which finally sells it to you for $17. Determine the impact of T‑shirts on annual GDP by calculating the value added of the entire production process. b. Now, calculate the amount spent on T‑shirts in a year if 100 million T‑shirts are sold, each for $17. How does this compare to the amount calculated through the value‑added method?
2. What be an impact on economy by achieving GDP?
Which of the following will be counted as part of the U.S.'s GDP for a given year? Select one: 0 a. An antique (old) clock that is sold in a flea market O b. A Ford focus that is produced in Germany and sold in Belgium c. Paint purchased by a family in Lowe's to paint their house O d. Nails that are purchased by a local construction company to build a house e. A babysitting service by a teenager that is never reported to the IRS Suppose that in 2011 Nominal GDP was $14 trillion and the Real GDP was $12 trillion. If Nominal GDP increased by 20% between 2011 and 2012 and Real GDP remained the same, what was the GDP Deflator in 2012? Select one: a. 1.2 b. 1.4 c. 1.6 d. 1.8 e. 2.0 O O O
When the Japanese car maker Toyota expands one ofits car factories in the United States, what is the likelyimpact of this event on the gross domestic productand gross national product of the United States?a. GDP rises and GNP falls.b. GNP rises and GDP falls.c. GDP and GNP both rise but GDP rises by more.d. GDP and GNP both rise but GNP rises by more.
Contact us Search Guides Software Colleges - This .A country's standard of living depends on its ability to produce goods and services إختر واحداً: 0.50 السؤال thi O ?Which of the following values the production of goods and services at market prices A. Real GDP 0.50 B. Nominal GDP تا السؤال C. Real interest rate D. Nominal interest rate A O В о C O DO TOSHIBA 144