Reference no: EM13853430
A farmer sells cotton to a clothing company for $1,000 and the clothing company turns the cotton into T-shirts that it sells to a store for a total of $2,000. How much did GDP increase a result of these transactions? Category Amount:: Durable Goods $1,000, Non-Durable Goods 2,500, Services 7,000,Fixed Investment 1,800, Changes to Business Inventory 35, Investment in Stocks & Bonds 5,500, Federal Government Purchases 1,200, State/Local Government Purchases 1,800 ,Transfer Payments 575 ,Exports from the United States 2,000, Imports into the United States 2,600 2.Using the above table determine the amount added to GDP by calculating the amount added to each of GDP’s categories (Consumption, Investment, Government Expenditures, and Net Exports). 3. Indicate whether each of the following is counted in this year’s GDP: a. You bought a new Wiki at GameStop last year and resold it on eBay this year. b. You purchase an “Investing for Dummies” book at Barnes and Noble. c. You purchase a historic home using the services of a real estate agent. d. You detail your car so it is spotless inside and out. e. You purchase a new hard drive for your old laptop. f. Your physical therapist receives $300 for physical therapy but reports only $100.
|
Are your households resources allocated fairly
: Start with your factors of production on page 34 and then briefly describe whether these resources were allocated efficiently. Think about how you can check whether marginal benefit equals marginal cost for each of your household’s activities. Are yo..
|
|
Determine the marginal revenue function
: Suppose that the output can be sold for $10 per unit. Further assume that the firm can obtain as much of the variable input (L) as it needs at $20 per unit. Determine the marginal revenue function. Determine the value of L that maximizes profits
|
|
Illustrates the consumers budget constraint
: Suppose that doctors' visits cost $20, and the typical consumer has an income of $100. Consumers spend all of their incomes on doctors' visits and a "composite good" that costs $1 per unit. Draw a graph that illustrates the consumer's budget constrai..
|
|
Expect to happen to the demand for credit cards
: What would you expect to happen to the demand for credit cards by students? What would you expect to happen to the quantity of credit cards issued to students? To the willingness of students to incur debt at the much higher rates of interest charged ..
|
|
(consumption-investment-government expenditures
: A farmer sells cotton to a clothing company for $1,000 and the clothing company turns the cotton into T-shirts that it sells to a store for a total of $2,000. How much did GDP increase a result of these transactions? Category Amount:: Durable Goods $..
|
|
What is the present worth should you purchase this machine
: A machine costs $50,000, and increases revenues by $18,000 per year. However, O&M costs increase by $4,000 per year. The machine lasts 6 years and your MARR is 7% annual rate compounded annually. What is the Present Worth (or Net Present Value) and s..
|
|
The nations technology and resource productivity
: A nation's capital goods wear out over time, so a portion of its capital goods become unusable every year. Last year, its residents decided to produce no capital goods. It has experienced no growth in its population or in the amounts of other product..
|
|
Evaluate the roles of population density
: Describe the opportunities and challenges posed by the diversity of the U.S. population. Evaluate the roles of population density and where people live in U.S. politics.
|
|
Discuss your price elasticities for such products
: Describe and discuss your price elasticities for such products and discuss the movement of your demand for such a good when the price of that good rises. Share with your classmates whether your demand for the selected good is elastic, unit elastic, o..
|