Homework Answers
a) False, the US exports are 12% and a little in the year 2017 and last two years/
b) "D"
The Lorenz curve is used to represents how much is head by the lower given percentage of the people and how much income in % the upper strata of people have. the answer is "D".
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1)
exports amount to about 11 percent of U.S. GDP.
A) TRUE
B) FALSE
2) The...
help 1. What is the value of "Net Exports"? 2. What is the amount of GDP?...
help
1. What is the value of "Net Exports"? 2. What is the amount of GDP? 3. The largest component of GDP is consumer spending. What percentage of GDP is consumer spending? (round off and format your answer as: 99% ) 4. What is the value of government transfers to households? 5. What is the value of Capital Inflow from R.O.W.? 6. What is the value of the net Capital flow between the U.S. and the R.O.W? (enter your number...
1. U.S. GDP includes estimates of the value of items that are produced and consumed at...
1. U.S. GDP includes estimates of the value of items that are produced and consumed at home, such as housework and car maintenance. a. True b. False 2. If the U.S. government reports that GDP in the third quarter was $16 trillion at an annual rate, then the amount of income and expenditure during quarter three was $4 trillion. a. True b. False 3. If consumption is 57000, exports are $600. government purchases are $2000. government transfers are $900, imports...
8.(2 points) Suppose that the table below shows the share of aggregate income received by each...
8.(2 points) Suppose that the table below shows the share of aggregate income received by each fifth and the top 5 percent of U.S. households in 2000 and 2020. Year Lowest Quintile Second Quintile Third Quintile Fourth Quintile Highest Quintile Top 5% 2000 3.6 8.9 14.8 23.0 49.8 22.1 2020 2.5 6.8 10.1 22.0 58.6 30.3 Based on the data in the table, did the U.S. income distribution become more or less unequal over time? (Note: it may be helpful...
There's been a fair amount of talk about income inequality in the U.S. Or more to...
There's been a fair amount of talk about income inequality in the U.S. Or more to the point, talk about how inequality has been increasing. So has it? And to what extent? Let's take a look at income shares. We can take the income earned by every U.S. resident and add them all up. That's total or aggregate income. Then we can divide households up according to their incomes. Let's think that we put households on a "ladder" according to...
The net export function illustrates that:A) net exports are a positive function of domestic income....
The net export function illustrates that:A) net exports are a positive function of domestic income.B) net exports are independent of domestic income.C) net exports are a negative function of domestic income.D) imports are independent of domestic income.E) exports are independent of foreign income. Suppose the marginal propensity to import for country A is 0.4. Calculate the change in total value of imports of the country if national income increases by $100,000.A) $16,000B) $20,000C) $60,000D) $40,000E) $25,000 An MPI of 0.4 indicates that...
Q1) Total government spending in the U.S. economy was around _____ of the GDP in the...
Q1) Total government spending in the U.S. economy was around _____ of the GDP in the financial year 2010. Group of answer choices 36 percent 44 percent 5 percent 16 percent 25 percent Q2) The lowest of the federal or state minimum wage levels prevails in each state. Group of answer choices True False Q3) The market process ensures that, when all transactions are voluntary, resources get allocated to the use where they are valued the most. Group of answer...
1. Equilibrium GDP can operate at, below, or above full employment GDP. True/False 2. Imports have...
1. Equilibrium GDP can operate at, below, or above full employment GDP. True/False 2. Imports have the same effect on the current size of GDP as A) exports B) investment C) consumption D) savings 3. With an MPC of 0.75, a $10 billion decrease in taxes will decrease equilibrium GDP by $30 billion. True/False 4. If equilibrium GDP exceeds full employment GDP, a recessionary gap exists. True/False 5. The economy below would be characterized as a domestic output AE, closed...
Which of the following is NOT true about gross domestic product (GDP)? a. It includes only...
Which of the following is NOT true about gross domestic product (GDP)? a. It includes only final goods and services. b. The values are measured in current dollars c. Intermediate goods and services are excluded to prevent double counting. d. It includes the value of transfer payments. The gross domestic product (GDP) excludes: a. the value of intermediate goods produced. b. the spending by government on new roads and bridges. c. household spending on goods and services. d. the increase...
2. Download the annual real GDP and GDP data of the United States 1950-2018 from FRED....
2. Download the annual real GDP and GDP data of the United States 1950-2018 from FRED. For the real GDP, the data online is chain-weighted and uses 2012 as the base year. In the lecture hursday, I showed you the detailed method and calculated the new chain-weighted real GDP when 1990 is the base year. You are required to calculate a new sequence of chain- weighted real GDP given a new base-year. The base year you should use in your...
Answer True or False for each of the following. (3 points each) GDP per capita is...
Answer True or False for each of the following. (3 points each) GDP per capita is GDP divided by the population growth rate. Disposable personal income is what you have left over after paying basic living expenses. Net Domestic Product is Gross Domestic Product minus depreciation. Real GDP is always lower than nominal GDP. The GDP deflator is a good cost of living index. In the long run GDP tends to return to the vicinity of a long run growth...
help
1. What is the value of "Net Exports"? 2. What is the amount of GDP? 3. The largest component of GDP is consumer spending. What percentage of GDP is consumer spending? (round off and format your answer as: 99% ) 4. What is the value of government transfers to households? 5. What is the value of Capital Inflow from R.O.W.? 6. What is the value of the net Capital flow between the U.S. and the R.O.W? (enter your number...
1. U.S. GDP includes estimates of the value of items that are produced and consumed at home, such as housework and car maintenance. a. True b. False 2. If the U.S. government reports that GDP in the third quarter was $16 trillion at an annual rate, then the amount of income and expenditure during quarter three was $4 trillion. a. True b. False 3. If consumption is 57000, exports are $600. government purchases are $2000. government transfers are $900, imports...
8.(2 points) Suppose that the table below shows the share of aggregate income received by each fifth and the top 5 percent of U.S. households in 2000 and 2020. Year Lowest Quintile Second Quintile Third Quintile Fourth Quintile Highest Quintile Top 5% 2000 3.6 8.9 14.8 23.0 49.8 22.1 2020 2.5 6.8 10.1 22.0 58.6 30.3 Based on the data in the table, did the U.S. income distribution become more or less unequal over time? (Note: it may be helpful...
There's been a fair amount of talk about income inequality in the U.S. Or more to the point, talk about how inequality has been increasing. So has it? And to what extent? Let's take a look at income shares. We can take the income earned by every U.S. resident and add them all up. That's total or aggregate income. Then we can divide households up according to their incomes. Let's think that we put households on a "ladder" according to...
2. Download the annual real GDP and GDP data of the United States 1950-2018 from FRED. For the real GDP, the data online is chain-weighted and uses 2012 as the base year. In the lecture hursday, I showed you the detailed method and calculated the new chain-weighted real GDP when 1990 is the base year. You are required to calculate a new sequence of chain- weighted real GDP given a new base-year. The base year you should use in your...
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