What percentage of the U.S. gross domestic product (GDP) consists of consumer or household purchases (consumption)? Group of answer choices 55% 25% 35% 75% 80%
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What percentage of the U.S.
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- Which one of the following statements is FALSE?(a) There are four broad groups of decision‐making units in the economy:households, firms, government and the foreign sector;(b) Savings are an important injection into the circular flow of income andMultiple‐choice questions: Select one correct answer for each of the following. In your answer booklet, write down only the number of the question and next to it, the letter of the correct answer.spending in the economy;(c) Taxes are a leakage or withdrawal from the flow of income and spending in the economy;(d) Spending by households on consumer goods and services is calledconsumption spending.how do i get urbanization (% population)a) What share of GDP was composed of consumption in 2013 and in 2020? Share of GDP composed of Consumption (2013)= [Consumption 2013/GDP 2013]*100 =(11496.2/16797.5)*100= 68.43% Share of GDP composed of consumption (2020)= [Consumption 2020/GDP 2020]*100 =(14143.3/20936)*100= 67.5% b) What share of GDP was composed of net exports in 2013 and in 2020? Share of GDP composed of Net Export (2013)= [Net Export 2013/GDP 2013]*100 =(2259.8-2757/16797.5)*100= -2.9% Share of GDP composed of Net Export (2020)= [Net Export 2020/GDP 2020]*100 =(2127.1-2772/20936)*100= -3.08% Based on your answers to above parts a and b, comment on how the total production in the U.S. using its scarce resources are distributed.
- Real-Time Data Analysis Exercise* Consider the data below for federal budget receipts, federal budget spending, and GDP in the U.S. Calculate the federal budget surplus or deficit as a percentage of GDP for each year. (Enter your responses rounded to two decimal places and include a minus sign for a deficit.) Federal Federal Budget Receipts (billions of dollars per (billions of dollars (billions of dollars per year, Federal Surplus or Deficit Government Spending Real GDP Year year) per year) in constant 2005 dollars) as a percentage of GDP (%) 2014 3,021 3,506 17,527 2015 3,250 3,692 18.238 2016 3.268 3,853 18,745 2017 3.316 3.982 19.543 *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.Real-Time Data Analysis Exercise* Consider the data below for federal budget receipts, federal budget spending, and GDP in the U.S. Calculate the federal budget surplus or deficit as a percentage of GDP for each year. (Enter your responses rounded to two decimal places and include a minus sign for a deficit.) Federal Federal Budget Receipts (billions of dollars per(billions of dollars (billions of dollars per year, Federal Surplus or Deficit Government Spending Real GDP Year year) per year) in constant 2005 dollars) as a percentage of GDP (%) 2016 3,268 3,853 18.745 2017 3,316 3,982 19,543 2018 3,330 4.109 20,612 % 2019 3.462 4.447 21.433 *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.4. Shifts in production possibilities Suppose the fictional country of Teton produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for rice, an agricultural good, and telephoto lenses, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a technological advance in medicine that allows workers to live longer and have extended careers. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther.
- The traditional method for accounting purposes is the Gross Domestic Product. However, this method does not account for environmental changes.a) Why is this considered a major sustainability issue? b) Outline four alternative methods that can used as opposed to GDP.For a good or service to be counted in a given year's gross domestic product (GDP), what four criteria must be met? have a market value, be a final good or service, be produced within a given country, and be produced within a certain time frame have a market value, be a final good or service, be produced within a given country, and be produced independent of any set time frame have a market value, be an intermediate or final good or service, be produced within a given country, and be produced within a certain time frame have a market value, be a final good or service, be produced within a given country or in another country with whom they have established trade relations, and be produced within a certain time frame15 Cumulative % of Population Cumulative % of Income, 20 40 60 80 100 21 37 58 100 Bangladesh, 2010 Cumulative % of Income, 6. 18 35 58 100 Spain, 2010 Cumulative % of Income, 29 49 100 United States, 2010 United States data from the Congressional Budget Office at CBO.gov. Before-tax Income, rounded to whole %s. Data for other countries from WorldBank.org. rounded to whole %s. Report your answers to two decimal places. According to these data, the Gini coefficient for Bangladesh in 2010 is The Gini coefficient for Spain in 2010 is in Bangladesh compared to Spain. These Gini coefficients indicate that in 2010, the income distribution was more equal In 2010, the income distribution was more unequal in the United States compared to Bangladesh.
- Which COMPONENTS (IF ANY) of U.S. GDP (consumption C, investment I, government spending G, and/or net exports NX) THIS YEAR would be affected and HOW (INCREASE OR DECREASE) if: (a) you buy an OLD house in Coral Gables and start living in it (b) Jackson Memorial Hospital buys a new MRI scanner produced in Germany (c) Whirlpool produces some kitchen appliances but does not manage to sell them this year (d) you cook yourself a dinner (ignore the cost of all ingredients and the increase in your utility bill)Suppose you are given the following data for a particular economy (unit: Millions of Euros):Gross National Income mp (GNImp) =1650Investment (I) = 220(Iliq) Net investment = 210Private consumption(C) =1100Net External Income (NEI) = 0Net Indirect Taxes (NIT) = 231Public Spending (G) = 363 Calculate: a) Balance of Goods and Services or Net Exports (NX) and Amortizations/Depreciations (A). b) Net National Product at Base Prices (NNPbp) and Net Domestic Product at Base Prices (NDPbp)The Prime Minister of your country has requested your assistance to analyze your country’s GDP for the past 5 years. He expects you to provide: i. A trend analysis and thoroughly explaining the primary reasons for growth or decline in GDP. ii. Three (3) recommendations on what can be done within your country to improve GDP. Provide examples and reference data. COUNTRY TO USE IS JAMAICA