Eco 100 Week 6 Chapter 11 Homework

Unformatted text preview: iStudent _ , Instructor: R Assignment: Week 6 Chapter 1] Date: SEMEIS Course: Principles Oi‘Eeonomies {50) Homework Time: 4:26 PM Book: O'SullivanlShefl‘rintPercz: Survey of Economics (we 1, Which government department produces the National Income and Product Accounts? The Council of Economic Advisors. The Department of Education. VI The Department of Commerce. I..= The Congressional Budget Office. Investment Spending versus Intermediate Goods. A publisher buys paper, ink, and 3 computers to produce textbooks. Which ofthese purchases are included in investment spending and which are intermediate goods? Computers, paper. and ink are intermediate goods and are not included in investment spending. is: Paper and ink are included in investment spending, and computers are intermediate goods. :V'T- Computers are included in investment spending, and paper and ink are intermediate goods. 2 -!. Computers, paper, and ink are included in investment spending and are not intennediate goods. “L What do we add to GDP to reach GNP? Personal income. Vi? Net income earned abroad by US. households. Depreciation. Net exports. Page I 1.11 Student: '_ I Date: 51114315 Time: 4:26 PM Instructor: Course: Principles Oi'Economics ['50] Book: O'SullivantShclTrianercz: Survey of Economics (we Assignment: Week 6 Chapter | l Homework Calculating Real GDP, Price Indiees, and Inflation. Using the data from the table below. an: Following questions: Quantities Produced Prices CDs Tennis Rackets Price per (ED- Price per Tenn 2011 105 200 $2] $100 2012 120 220 $26 $120 Real GDP in 201 l using:I 201 1 prices is .15 22205 . {Enferyrnn' response as an integer.) Res] GDP in 2012 using 201 1 prices is $ 24520 . (Enterynnr response as an integer.) Real GDP grew by 10.43 percent. (anew-Pour response or a percentage rounded to are deer'n The price index for GDP for 2012 using 201 l as the base year is i20.40 . (Enrw'yrnn' response two decimal places.) Prices increased by 20.4 percent. (Enteryrnn' response as a percentage rounded to two derrnn. Counting Recessions. Consider the data for the fictitious economy of Euronet: Year and quarter 2003zl 2003:2 2003:3 2003z4 2004:] 2004z2 21 Real GDP 195 193 195 196 195 194 How many recessions occurred in the economy over the time indicated? 1 rccession(s). (Ente response as an integer.) Illegal activities are not computed as part of measured GDP because they are not M reported. big enough to worry about. legal. '. production. Page 2 ...
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ECO100 - Week 4 Chapter 6 Homework Question 1 Questions 2 Question 3

Question 4

Unformatted text preview: Question 5 ECO100 - Week 4 Chapter 6 Homework Question 6 Question 7...
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