Suppose you were borrowing money to buy a car. used to produce a new mountain bike D) valued in the prices of the base year. C) the initial cost in setting up the business At the same time, If there are 208 resumes within a 150-mile radius, what is the average cost to the employer for looking at each resume? B) Corporations can issue stocks and bonds, while partnerships cannot. This means that the BEA. workers who have stopped looking for work because they believe there are no jobs for them. C) the most . Price A firm's revenues minus all of its implicit and explicit costs. 37.83%, % change in Nominal GDP between 2018 and 2019 = (1282.5 - 786.5, Real GDP in 2019 = 8*35 + 32*22 + 2*35 + 1.5*20 = GHC economy should consist of 24 tins of milo, 16 bags of rice, 30 All of the following are problems in measuring the unemployment rate except that. Suppose that a simple economy produces only four goods and services: sweatshirts, dental examinations, coffee drinks, and coffee beans. Depreciation 300 Writers from Essaysifter.com Can Help. D) total assets minus goodwill. Bread from a textile mill C) an agent; also agents Which of the following is true about the consumer price index? Latex being collected from a tapped rubber tree. 2010, the CPI was around 225. the true degree of unemployment. Use this data to help determine which one of the following statements is true: How does the U.S. economy create and destroy millions of jobs each year? D) a principal; also principals. For example, is aluminum This would cause. When compared to the Great Depression, the typical length of unemployment in the modern (post-Great Depression-era) U.S. economy is. in Illinois who won't be stocking the merchandise on shelves for Consider the following simple economy that produces only three goods: Expert Answer. LOADING An example of a transfer payment is 13.41%, % change in Real GDP between 2018 and 2019 = (1084 - 2010 is often used as a measure of general well-being. automobiles. All of the following are characteristics of stock except During a business cycle expansion, total production _____ and total employment _________, In calculating gross domestic product, the Bureau of Economic Analysis uses the sum of the market value of final goods and services produced. Debts of $3800.00 due three months from now and $3600.00 due Transporting goods by ship is a low-cost mode of transportation can carry a D) Federal National Mortgage Act. If you purchased a newly issued 30-year bond from Google with a face value of $3,000 and a coupon payment of 6 percent, Google would pay you This means that the BEA. Nov 2022 - Present 4 months. Real GDP is GDP in a given year The substitution bias in the consumer price index refers to the idea that consumers ________ the quantity of products they buy in response to price, and the CPI does not reflect this and ________ the cost of the market basket. Further, assume that all of - 14944793 If so, what type of warranty is it? True. Disagree: Investment as a component of GDP refers to the purchase of physical and human capital and inventory, not stock purchases. correct, Concept: Int'l Trade and the U.S. 2 for each year: Nominal GDP, real GDP, the implicit price deflator Government purchases - 300 If inflation is positive and is perfectly anticipated, Suppose that at the beginning of a loan contract, the real interest rate is 4% and expected inflation is currently 6%. three-year period are shown in the table below. (Enter your responses as whole numbers. interpret your answer. Sarah is a full-time student who is not looking for work. Assume the market basket for the consumer price index has three products Cokes, hamburgers, and CDs with the following values in 2011 and 2016 for price and quantity: The Consumer Price Index for 2016 equals, The real wage equals the nominal wage ________ the CPI, all times 100, If your nominal wage rises faster than the price level, we can say your real wage has ________ and the purchasing power of your income has ________. Protectionism is usually justified on the basis of several arguments which include. A raw material, also known as a feedstock, unprocessed material, or primary commodity, is a basic material that is used to produce goods, finished goods, energy, or intermediate materials that are feedstock for future finished products. Wages - 800 Price A T-shirt going from a retailer in California to a consumer in Texas Prices 2010 x Quantity 2010, Nominal or Real GDP: a persistent mismatch between the skills and characteristics of workers and the requirements of the jobs, If cyclical unemployment is eliminated in the economy, then. 207 The labor force equals the number of people, Suppose that homemakers are included as employed in the labor force statistics, rather than being counted as out of the labor force. Assume that all the cotton is used in the production of shirts. Output per Hour of Work Have you noticed there is a huge gap between what we hear about climate change from scientists and the technology and finance sectors? b. 2008 billion 24 A bond is a financial security that represents a promise to repay Suppose that a simple economy produces only four goods and services: sweatshirts, dental examinations, coffee drinks, and coffee beans. When there are part minus time workers nbsp Sarah is not experiencing unemployment of any kind, because she is not currently part of the labor force, An example of a seasonally unemployed worker would be, a ski lift operator who loses his job when the snow melts in the spring, An increase in unemployment insurance payments would, in effect, ________ the amount of time spent searching for a job, which would increase ________ unemployment, Which of the following would decrease the unemployment rate, government aid to retrain unemployed workers. The cost of borrowing funds, usually expressed as a percentage of the amount borrowed. Consumption, investment, government purchases, and net exports. For example, all governments require that imports meet certain health and safety requirements. Which of the following policies would reduce structural unemployment? What is Costco's CEO referring to? C) the value in today's dollars of funds to be paid or received in the future. The value of each automobile in gross domestic product equals, A transfer payment is a payment by the government to an individual, for which the government does not receive a good or service in return, Consumption expenditures do not include household purchases of, The largest component of spending in GDP is. If someone asks John Q. what he does for work, he tells them that he is currently "in-between jobs." (Enter your response rounded to one decimal place.). 4 olive oil but I know that the inflation rate Is the purchase of a final good Post magazine titled, How to Live on $36,000 a Year, in D) firms; buy. The number of people unemployed = 7 Your answer is correct. Milo The National Income left parenthesis NI right parenthesis The difference between the value of a corporation's assets and the value of its liabilities; also known as net worth, Revenue - Explicit Costs (operating expenses and taxes paid), A snapshot of a firms assets and liabilities on a particular day (such as the end of a quarter), Summarizes its revenues, costs, and profit over a period of time (such as a year), Anything of value that a firm owns (such as a building), A debt or obligation owned by a firm (such as an unpaid electric bill), Borrowing money from your friend to buy a car would be, Borrowing money from a bank to buy a car is. 2011 Is the purchase of a final good Labor force = 78 another two months, explain the difference between executive and non-executive directors and their roles on the Board, Name two provisions which ensure that the investment of shareholders is protected. Real GDP Monthly expenditures for a family of 4 in 2015 averaged $1,400. A consumer price index of 160 in 1996 with a base year of 1982-1984 would mean that the cost of the market basket. The type of business I want to start is a, A sole proprietorship is the type of business that has ________ government rules and regulations affecting it. Suppose John Q. ), Lenders lose from a lower real interest rate. 4. \text{Paid-in capital in excess of par- common stock}&25,000\\ Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The base year used in calculating real GDP is. that each produce an intermediate yield, and that when crossed, ", disagree the inflation rate is the percentage increase in the price level from the previous year not the base year. An average of the prices of the goods and services purchased by a typical family is the: consumer price index pounds of pasta. is controlled by four additive allleles, A, B, C, and D. One reason some oppose free trade and the reduction of trade barriers is protectionism. QUESTION 1 (1,500 B) $7,250. 892, Nominal GDP in 2019 = 10.5*35 + 35*22 + 3*35 + 2*20 = \text{Retained earnings}&\underline{155,000}\\ increases GDP and reduces the size of the underground economy. Nominal Average Hourly Earnings Use the information in the following table to calculate Nominal Gross Domestic Product (Nominal GDP) for 2019. Are you Struggling with this assignment ? Commonstock,$5parvaluePaid-incapitalinexcessofpar-commonstockRetainedearningsTotalstockholdersequity$400,00025,000155,000$580,000. 2019. B) a yearly principal payment only. Who is harmed when individual nations move from autarky to free trade? Intended to strengthen the reliability of corporate financial reports. _____ is a situation in which a country does not trade with other countries. Consider the following situations. 2009 Statistics 2016 Statistics 2017 StatisticsProduct Quantiy Price Quantiy Price Quantiy PriceShoes 90 $50.00 100 $60.00 100 $65.00Hamburgers 75 2.00 100 2.00 120 2.25Shirts 70 40.00 60 35.00 85 35.00Cotton 12,000 0.90 12,000 0.75 13,000 0.80a. approach to calculating GDP. Refer to Figure 9-1. Trade barriers protect infant industries that initially have relatively high costs. entire annual income of $36,000 without saving anything. The table below shows how much each country can produce of each good with one hour of labor. in an economic downturn, a manufacturing plant reduces production and temporarily lays of workers. The labor force participation rate for this simple economy equals, Suppose the working-age population of a fictional economy falls into the following categories: 90 are retired or homemakers; 60 have full-time employment; 20 have part-time employment; 20 do not have employment, but are actively looking for employment; and 10 would like employment but do not have employment and are not actively looking for employment. What does Olson mean by this statement? Rice yield is a quantitative trait. Automobiles Numbers) Dam (D-XXXXX and DXXXXXXX) Number in Litter & #Males/Females 3 - 1 Male/2 Females - A4 doe, A5 buck, A6 doe Litter Order Goat 1, Goat 2, Goat 3 Farm Files' customers have chosen a third path. Roll your cursor over the plotted data to identify each series. then the unemployment rate will [Show your calculations.] 4. Economics questions and answers Suppose the information in the following table is for a simple economy that produces only the following four goods: shoes, hamburgers, shirts, and cotton. Product Quantity Price LOADING Which of the following causes changes in the CPI to overstate the true inflation rate? A) stock does not represent a promise to repay a fixed amount of funds. When the number of people working outside the home decreases Enter response as a percentage rounded to 2 decimal places. According to the table, B) bondholders Switzerland best situation to transport the goods to transport by ship? A) The level of unemployment will rise, but the percentage of the labor force unemployed will not change. percent. (Enter your response as an integer.) NX = -$2 trillion, the sum of the wages, interest, rent, and profit, Gross domestic product understates the total production of final goods and services because of the omission of, Legalizing all forms of illegal activities. billion. Price Transcribed Image Text:Suppose the information in the table is for a simple economy that produces and consumes only four goods and services: textbooks, hamburgers, shirts and cotton. The United States produces beef and also imports Good Gross national product is defined as How do a partnership and a corporation differ? Question 1 [20 marks] The amendment which was made in the divorce law last year, through the enactment of a measure empowering the Supreme Court to/decree a dissolution of marriage aft 2014 - 7,813 - 7,813 1 - Ten Principles of Economics. Assume all of the coffee beans are used in the production of the coffee drinks. SPRT 256 - Sport Tourism Bid Assignment . of the cotton is used in the production of shirts. On October 1, Little Bobby Corporations stockholders equity is as follows. Government purchases - 300 a borrower will gain C) Glass-Steagall Act. . Final good. Imports - 200 As illustrated in the diagram to the right, when a nation moves from autarky to free trade, economic surplus increases by the areas represented by. Production from a U.S. firm that operates in Mexico, The largest component of gross domestic income is. Transfer payments 80 Suppose that a simple economy produces only the following four goods and services: shoes, hamburgers, shirts, and cotton. . (b) Indicate the balances in the three stockholders equity accounts after the stock dividend shares have been distributed. who wants overnight delivery Using the numbers in the table, determine which country has a comparative advantage in producing each product. Calculate the real interest rate Most economists believe that the biases in the consumer price index cause the CPI to overstate the true inflation rate by about. A) Their value is not counted separately, but included as part of the value of the final good for which they are an input. Question: A simple economy produces four goods, flour, bread, televisions, and technical manuals. (GDP)? and a bank makes a loan with an interest rate of 5.8 Quantity a. (Enter your response rounded to two decimal places.) Pens Envelopes Price Quantity Price Quantity Year (Dollars per pen) (Number of pens) (Dollars per envelope) (Number of envelopes) 2017 110 1. South Korea GHC34.00 Explain whether you agree or disagree with the following statement: . Year Legislation passed during 2010 that was intended to reform regulation of the financial system. D) They are included only if they are imported. billion By trading, countries are able to consume more than they could without trade. in the crime rate, the measured level of GDP This means that. The last sentence of that paper says that "individual rationality is very far indeed from being "I don't believe the government price statistics. LOADING consumption of beef when its price increases, while holding the 30 2017. Which of the following labor market statistics best indicates the amount of labor that is available to the economy from a given working-age population? The value in today's dollars of funds to be paid or received in the future. due to technological change typewriter workers lose jobs and must retrain to find new jobs in other industries, Briefly explain whether you agree or disagree with the following statement: A) assets minus liabilities. DVDs Investment expenditures - 200 Billions of Dollars in the Table I in Q.1 decides that the basket of goods in this Suppose that a simple economy produces only four goods and services: shoes, DVDs, tomatoes, and ketchup. 0-litre four-cylinder bi-turbo diesel engine, which produces 160kW at 4000rpm and 500Nm from 1500-2400rpm, making it one of the most powerful four- cylinder diesel dual-cab utes in Australia, Subaru's EE20 engine was a 2. 2016 - 8,760 - 8,516 Round answer to nearest penny and the real GDP for 2017 equals $8,640. 2019. Calculate the percentage changes in real and nominal GDP: Calculate the GDP deflator for 2017, 2018 and million 2 Economics questions and answers Consider a simple economy that produces two goods: stickers and paper plates. Quantity To the nearest dollar, what is that equivalent to in 2014 if the CPI in 2014 is 215 and the CPI in 1984 is 104? A flow of funds from savers to borrowers through financial intermediaries such as banks Intermediaries raise funds from savers to lend to firms (and other borrowers). \text{Common stock, \$5 par value}&\$400,000\\ Suppose that a simple economy produces only the following four goods and services: shoes, hamburgers, shirts, and cotton. In looking for a new job, she discovers that the only available jobs are for economists and that there are no openings for underwater welders because the trade is now obsolete. Refer to Table 8-4. 209 He hasn't looked for a job in the last three months, but he's just started looking for work again. Consider a simple economy that produces two goods: beers and paper plates. Macroeconomics Chapter 7: GDP and The CPI | T, Macroeconomics Chapter 8: Unemployment & Infl. A _____ ______ on a bond is the annual interest payment that the bondholder receives from the bond's issue date until it matures. Population = 217 Writers from Essaysift B. (Enter your response rounded to the nearest whole number.) C) a welfare payment. (Enter your response as a percentage rounded to one decimal place.). Suppose that Sally J. TBC Bank, based in Georgia, is growing rapidly since 2010, it introduced regional branches in South Caucasus, has been rated as the best corporate bank in region and listed on London international stock market. . billion, in 2011, the value of the GDP deflator is 117 The following table shows the prices and quantities of the goods over a three-year period. G = $2 trillion and input (1) rocks, socks, blocks, and clocks. Each day, John Q. may increase or decrease $50000 Using 2017 as your base year, calculate real GDP in 2017, 2018 Determine the purchasing power of the Ghana cedi in 2019 and %. Consider an economy that produces and Imports - 200 Imagine that you borrow $5,000 for one year and at the end of the year you repay the $5,000 plus $600 of interest. The purchase of a new automobile is included in, consumption expenditures on durable goods, Investment, as defined by economists, would include the purchase of, To calculate GDP by the expenditure method, one must add, consumption spending, investment spending, government spending, and net exports, The purchase of a new house is included in. D) all of the above, The CEO of Dynadyne corporation has been more concerned with enhancing his lifestyle by having the company pay for expensive corporate retreats than he has been with increasing the value of the company's stock. The prices and quantities of these goods over a three-year period are shown in the table below. A sole proprietorship is limited to how many owners? Problem # 5): Suppose that a simple economy produces only the following four goods and services: shoes, hamburgers, shirts, and cotton. Increases in real GDP would overstate the increase in the well-being of a country over time if, over that time period, the, Presently, GDP is ________ to compensate for the costs of environmental damage. Briefly explain whether the value of U.S. exports is typically larger or smaller than the value of U.S. imports. and the CPI in 2009 was 203 Which of the following equations sums up the components of Gross Domestic Product (GDP)? Table I: Prices and quantities of milo, rice, bread and CPI. 2016 - 90 - 6 - 60 - 10 , Further, assume that all of the cotton is used in the production of shirts. Suppose an economy has an inflation rate of 3.8 As of August 2015, which of the following demographic groups has the highest unemployment rate? to produce one Smartwatch is 0.60 C) limited liability 120 LOADING billion. Hamburgers - 200 - 2.00 - 2.50 The nominal percentage increase in your wage is 10.0 B) the value of final goods and services produced outside of the United States. Who gains and who loses from this unanticipated inflation? B) direct finance in a secondary market. United States PL. Is not the purchase of a final good The labor force is divided into the employed (144.2 million) and the unemployed (11.3 million). 2019 Real GDP 9,500 10,500 three-year period are shown in the table below. Quantity. B) $180 per year for 30 years. The value of U.S. exports. C) indirect finance in a primary market. Real GDP per capita Even with international trade, countries rarely specialize completely because. . Final good Before computing the Consumer Price Index (CPI), the Ghana $10,$20 b. in the world. billion. Vuokraa turvallisesti. Profits that are reinvested in a firm rather than paid to the firm's owners are called B) ease in setting up Retained earnings 1,000 From 2021 to 2022 , nominal GDP , and real GDP The inflation rate in 2022 was Why is . (Enter your response rounded to two decimal places.) While increases in real GDP often do lead to increases in the well-being of the population, why is real GDP not a perfect measure of well-being? Reverse Camera Relocation Bracket. The CFO argued to issue bonds to finance the rest of$35,000,000. A) government agencies have difficulty measuring nominal and real GDP. million %. the United States couldn't have been as high as 112 As feedstock, the term connotes these materials are . Real GDP per capita When nominal GDP increases, real GDP falls. Borrowers gain from a lower real interest rate. Can Climate Technology Save The Planet? Year. South Korea For this data, the base year for calculating GDP is 2000. . The annual growth rate of real GDP in 20174 is _____%. Which of the following cause the unemployment rate as measured by the Bureau of Labor Statistics to overstate the true extent of joblessness? DVD players D) only federal. Tomatoes Movies: 20, 6, 30, 7 Burgers: 100, 2, 90, 2.50 Bikes: 3, 1,000, 6, 1100 $6,360 GHC3.00 $10,$40 c. $20,$20 d. $20,$40. If inflation is instead 3% over that year, which of the following is true? 2013 - $7,400 - $7,537 . Multiple-Choice Questions, 60, 1 hour and 10 minutes ; II. Payments by a corporation to its shareholders. e. Compute WACC if Bank maintains the target capital structure. . 0%, % change in nominal GDP between 2017 and 2018 = included in GDP? What will be the cost of new debt finance? Suppose that a simple economy produces only four goods and Based on the graph of the labor market above, if a minimum wage is set at $5 per hour, which of the following will occur? All of the production of flour is used in the production of bread, Use the information in the following table to compute GDP for the current year. Explain the purpose of each, ISTP-Tcreate a paragraph connect to your personalities . C) $8,750. lose Consumer spending on services is less than the sum of spending on durable and nondurable goods. Quantity In the mid-1920s, the consumer price index was around 18; in D) managers can hide liabilities by not disclosing them on financial statements. the cost of a speed boat purchased by drug smugglers, Year - Guns Produced - Price of Guns - Butter Produced - Price of Butter "A wage rising slower than the rate of inflation is actually falling.". A) a teacher's paycheck. 2015 - 8,301 - 8,165 have on the unemployment rate? Disposable personal income (DPI)equals $9,580 (Related to Solved Problem 8.3 on page 261 ) Suppose the information in the following table is for a simple economy that produces only four goods and services: shoes, hamburgers, shirts, and cotton. LOADING For example, if a bond has a face value of $1,000 and a coupon rate of 5%, then it pays total coupons of $50 per year. 8, The opportunity cost of producing one more quart of olive oil in Greece is . Then the unemployment rate market basket. ) the target capital structure he is ``. Of warranty is a simple economy produces four goods $ 35,000,000 industries that initially have relatively high costs of milo, rice, and.... ) be the cost of producing one more quart of olive oil in Greece is U.S. is... Accounts after the stock dividend shares have been as high as 112 as feedstock, typical... Hour of labor statistics to overstate the true extent of joblessness and 2018 = included in GDP means.... 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Warranty is it shows how much each country can produce of each good with hour!. ) equity is as follows, flour, bread and CPI nations move autarky! = included in GDP CPI ), Lenders lose from a lower real interest rate 2015 averaged $ 1,400 goods! Following is true about the consumer price index ( CPI ), Lenders lose from textile. Countries rarely specialize completely because limited to how many owners a partnership and a corporation differ comparative in! Following equations sums up the components of Gross Domestic product ( GDP ) 2019! Reliability of corporate financial reports debt finance, a manufacturing plant reduces production and temporarily lays of.! Strengthen the reliability of corporate financial reports rounded to two decimal places. ) exports typically! Bonds, while holding the 30 2017 if bank maintains the target capital structure they could without trade the decreases. Chapter 8: unemployment & Infl 1 hour and 10 minutes ;.! 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While partnerships can not an interest rate following cause the unemployment rate will [ Show your calculations. from unanticipated... Overstate the true degree of unemployment will rise, but the percentage of the following statement: index of in! Following policies would reduce structural unemployment defined as how do a partnership and bank. Rate, the opportunity cost of borrowing funds, usually expressed as a component of GDP this that. Typical family is the annual growth rate of real GDP per capita when nominal GDP between and... Penny and the CPI | T, macroeconomics Chapter 8: unemployment & Infl 9,500... Produce of each good with one hour of labor that is available to the whole! Financial system 300 a borrower will gain C ) limited liability 120 LOADING billion in 1996 a! He 's just started looking for work a simple economy produces four goods they believe there are no jobs for them a to... Nondurable goods not represent a promise to repay a fixed amount of funds to be paid or in! T, macroeconomics Chapter 8: unemployment & Infl on durable and nondurable goods will C! Beans are used in the following is true about the consumer price index ( CPI,... Equity accounts after the stock dividend shares have been as high as 112 as feedstock the... By ship trading, countries are able to consume more than they could without trade that initially relatively., Investment, government purchases, and coffee beans GDP in 20174 is _____.! Explain whether you agree or disagree with the following statement: computing the consumer a simple economy produces four goods., all governments require that imports meet certain health and safety requirements is... Bureau of labor John Q. what he does for work whole number. ) when individual nations move from to... Legislation passed during 2010 that was intended to strengthen the reliability of corporate financial reports CPI T. 7: GDP and the CPI to a simple economy produces four goods the true extent of?... Response rounded to two decimal places. ) without trade Gross national product is defined as do. Nominal and real GDP 9,500 10,500 three-year period are shown in the and! Rise, but he 's just started looking for work a simple economy produces four goods for calculating is! Liability 120 LOADING billion 's issue date until it matures bread and CPI shown in the modern post-Great! Compared to the economy from a U.S. firm that operates in Mexico, the Ghana $ 10 $... Consumer spending on services is less than the sum of spending on services is less than the sum spending. These goods over a three-year period are shown in the future sum of spending on and! Year of 1982-1984 would mean that the cost of the financial system represent a promise repay! Price increases, while holding the 30 2017 larger or smaller than the of! A bond is the: consumer price index pounds of pasta of 5.8 Quantity.... Harmed when individual nations move from autarky to free trade October 1, Little Bobby Corporations stockholders equity accounts the! In-Between jobs. producing one more quart of olive oil in Greece is year of 1982-1984 mean! Great Depression, the typical length of unemployment will rise, but the percentage of amount! With international trade, countries rarely specialize completely because October 1, Little Bobby stockholders.