Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States? Check all that apply. The quality of goods available to consumers Funds spent by city governments to renovate their buildings O The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government The loss of enjoyment people incur when scenic land is converted to commercial use When a U.S. company purchases and imports wood from Brazil to use to build new houses within the United States, this purchase increases the component of GDP while also net exports by the same amount. Therefore, the purchase of wood from Brazil causes in US GDP.

Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States? Check all that apply. The quality of goods available to consumers Funds spent by city governments to renovate their buildings O The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government The loss of enjoyment people incur when scenic land is converted to commercial use When a U.S. company purchases and imports wood from Brazil to use to build new houses within the United States, this purchase increases the component of GDP while also net exports by the same amount. Therefore, the purchase of wood from Brazil causes in US GDP.

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter5: Gross Domestic Product

Section: Chapter Questions

Problem 9SQ

See similar textbooks

Similar questions

Which of the following are included in GDP calculations? a. Cleaning services performed by Molly Maid Corporation b. Lawn-mowing services performed by a neighborhood child c. Drugs sold illegally on a local street comer d. Prescription drugs manufactured in the United States and sold at a local pharmacy e. A rug woven by hand in Turkey f. Air pollution that diminishes the quality of the air you breathe g. Toxic-waste cleanup performed by a local company h. Car parts manufactured in the United States for a car assembled in Mexico i. A purchase of 1,000 shares of IBM stock j. Monthly Social Security payments received by a retiree
Although GDP is a reasonably good measure of a nation’s output, it is not an accurate measure of a nation’s well-being. Which of the following options are either not accounted for or are measured inaccurately in calculations of GDP for the United States? Check all that apply. A. The variety of goods available to consumersB. Funds spent by state governments to build highwaysC. The costs of overfishing and other overly intensive uses of resourcesD. The value of babysitting services, when the babysitter is paid in cash and the transaction isn’t reported to the governmentE. The parts of a car manufactured in the United States that are produced in Canada
Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States? Check all that apply. The quality of goods available to consumers The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government The costs of overfishing and other overly intensive uses of resources Funds spent by city governments to renovate their buildings
Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or expenditure methods of calculating GDP for the United States? Check all that apply. The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government The costs of air and water pollution Federal highway payments The variety of goods available to consumers The parts of an American car that are produced in Canada
Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States? Check all that apply. a. The variety of goods available to consumers b. The costs of air and water pollution c. Expenditures on federal highways d. The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government When a U.S. company purchases and imports electronic parts from China to use to produce MP3 players within the United States, this purchase increases the (a. government purchases, b. investment, c. consumption) component of GDP while also (a. increasing, b. decreasing) net exports by the same amount. Therefore, the purchase of electronic parts from China causes (a. no change, b. an…
Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States? Check all that apply. The quality of goods available to consumers Funds spent by city governments to renovate their buildings The loss of enjoyment people incur when scenic land is converted to commercial use The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government When a U.S. company purchases and imports wood from Brazil to use to build new houses within the United States, this purchase increases the component of GDP while also net exports by the same amount. Therefore, the purchase of wood from Brazil causes in US GDP.
Which of the following transactions or activities would be counted in your country’s GDP? Explain your answers. A transportation company acquires a fleet of second-hand vehicles. The same transportation company acquires 1.000 gallons of gas from a foreign company deducted from the net export component of GDP. You buy 10 short-term government bonds. A mining company acquires new government licenses to drill in land the company already owns. You pay for a new haircut at your local hairdresser. Foreign residents buy a bundle of your country’s food specialties on an online retail site. Your parents spend a whole day cooking meals to be handed out to their poorer neighbors. The local government acquires furniture for newly built schools. Two telecommunications companies merge. A non-profit organization buys an apartment to lodge their headquarters.
To calculate GDP from the income side, one must add together wages, a) government income, interest, and profits. b) consumption and depreciation. c) interest, rent, depreciation, profits and indirect taxes net of subsidies. d) investment, rent, depreciation, profits and indirect taxes net of subsidies. e) net exports, depreciation, and profits.
Which of the following statements best describe how economists calculate GDP? Group of answer choices Economists at the Census bureau collect data from surveys sent to consumers, private firms and government agencies and add them up on a yearly basis. Economists at the Bureau of Economic Analysis pull together data on sales, imports, exports, government purchase and investments from various government sources every 3 months. Economists at the Bureau of Labor Statistics collect data from surveys sent to consumers, private firms and government agencies and add them up every 3 months. Economists at the Congressional Budget Office calculate GDP for a given year by adjusting the previous year’s GDP with inflation.