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- Would you usually expect GDP as measured by what is demanded to be greater than GDP measured by what is supplied, or the reverse?During which of the following situations is the percentage change in real GDP always positive? Multie Choice recession growth recession depression infationImagine that a country produces only three goods: npples, bananas, and cerrots. The quantaies produced and the prices ut the thee goods are fisted below Seve & tah S Onoda Produced Apples Bananas Carrots 12 22 Price $2.00 1.50 1.00 Instructions: Round your answers to 2 decimal places. a. What is this country's GDP? b. Suppose that a drought hits the country, causing the quantity of apples produced to fal to 3. Assuming that ali prices remain constant, what is this country's new level of GDP? E. Assume, once again, that the quantities produced and the prices of the three goods are as listed in the table. Given this situation, carrot sellers decide that the price of carrots is too low and agree to raise the price of carrots. If GDP is $80.00, what will be the new rice of carrots? per carrot
- Calculate the PPP-adjusted GDP for each of the four countries using the information found in the table below. Instructions: Round your answers to the nearest dollar. Country GDP ($) Price level (%) PPP-adjusted GDP Ona 11000 8 Rye 12500 −24 Zolfo 13900 −12 Avon 23200 21Which is now the largest single component of the supply side of GDP, representing over half of GDP? Durable goods Services Nondurable goods StructuresTired of paying for an uber to and from work every day, a millenial decides to start biking to and from work three times a week. If each one-way uber ride costs her $8.50, what is the overall impact of her decision on GDP? a. GDP would decrease by $51 b. GDP would increase by $51 c. GDP would decrease by $16 d. GDP would not change
- Changes in real GDP reflect only changes in the quantities being produced Select one: True FalseWhich of the following will not effect Potential GDP in Country X? government institutions O the unemployment rate O the amount of capital available technologyOn the demand side of GDP, consumption by _____________ is the largest component of GDP, accounting for about two-thirds of the GDP in any year. services businesses households government
- What is the concept of the "income-expenditure model" used to analyze in economics? A. International trade balances B. Macroeconomic equilibrium and fluctuations in an economy C. The distribution of income in society D. Microeconomic market structures.Calculate the PPP-adjusted GDP for each of the four countries, using the information found in the table below. Instructions: Round your answers to the nearest dollar. Country Ona Rye Zolfo Avon GDP ($) 9,000 12,800 14,100 23,100 Price level (%) 8 -24 -12 23 PPP-adjusted GDP 8,333 -3,072 16,022.73 18800 Mif the total imports is greater than total exports the answer will be negative in GDP?
