The figure shows the flows of expenditure and income on Lotus Island. In 2016, R was $11 billion; W was $35 billion; U was $10 billion; Jwas $20 billion; and Z was $6 billion. Calculate total expenditure and total income. Total expenditure is $ billion. Total income is $ billion.
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- 3. Categories of expenditures Dmitri and Frances Doherty live in Conshohocken, PA. Their son, Jake, owns his own plumbing business. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (1), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction Dmitri's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China. The Pennsylvania Department of Transportation, a state administration, fixes potholes along PA highway: 23, which feeds into the center of Conshohocken, Frances gets a new video camera made in the United States. Dmitri buys a sweater made in Guatemala. Jake buys a new set of tools to use in his plumbing business. с 00 I O O G O X 0 M O O 0 000 00 000 0003. Categories of expenditures Darnell and Eleanor Cohen live in Conshohocken, PA. Their son, Jacques, owns his own plumbing business. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction Darnell buys a sweater made in Guatemala. Darnell's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China. Eleanor gets a new video camera made in the United States. The Pennsylvania Department of Transportation, a state administration, fixes potholes along PA highway 23, which feeds into the center of Conshohocken. Jacques buys a new set of tools to use in his plumbing business. с □ I □ G □ X □ M □ □3. Categories of expenditures Larry and Megan Smith live in Swarthmore, PA. Megan's father, Raphael, lives in Sweden. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (1), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction I G X M Larry buys a sweater made in Guatemala. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. Megan's father in Sweden orders a bottle of Vermont maple syrup from the producer's website. Megan gets a new video camera made in the United States. Larry's employer upgrades all of its computer systems using U.S.-made parts. O O
- If households spend $80 billion on goods and $70 billion on services, how much in revenues do businesses receive in the product market?A consumer expenditure survey reports the following information on consumer protein spending: Fish Chicken Beef Multiple Choice Multiple Choice 0.9 percent 1.4 percent Price $ 5.80 1.8 percent $3 $ 3.10 Using 2019 as the base year, by how much does a "cost of protein" index decrease between 2019 and 2020? 3.6 percent 2019 Quantity 5 14 7 Using 2019 as the base year, by how much does a "cost of protein index decrease between 2019 and 2020? Price $7 $ 1.50 $5 2020 Quantity 6 12 10 GIf household spend $105 billion on goods and $95 billion on services. How much in revenues do businesses receive in the product market?
- 3. Categories of expenditures Darnell and Eleanor Cole live in Conshohocken, PA. Their son, Jacques, owns his own plumbing business. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction The Federal Aviation Administration expands the runways at Philadelphia International Airport, which is just a few miles from Darnell and Eleanor's house. Eleanor buys a new BMW, which was assembled in Germany. Darnell's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China. Eleanor gets a haircut. Jacques buys a new set of tools to use in his plumbing business. с O I O G X M O OCalculate income if consumption is $120 million and Savings is $66 million3. Categories of expenditures Shen and Valerie Ferrari live in Swarthmore, PA. Valerie's father, Antonio, lives in Sweden. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction Shen's employer upgrades all of its computer systems using U.S.-made parts. Valerie gets a new video camera made in the United States. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. Valerie's father in Sweden orders a bottle of Vermont maple syrup from the producer's website. Shen buys a bottle of Italian wine. OOOoo 0 I 00000 G 00 000 X 00000 M OC 0 0 0 0
- 3. Categories of expenditures Jacques and Kyoko Lalime live in Swarthmore, PA. Kyoko's father, Musashi, lives in Sweden. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. G M Transaction Kyoko's father in Sweden orders a bottle of Vermont maple syrup from the producer's website. The Federal Aviation Administration expands the runways at Philadelphia International Airport, which is just a few miles from Jacques and Kyoko's house. Jacques's employer upgrades all of its computer systems using U.S.-made parts. Kyoko gets a new video camera made in the United States. Kyoko buys a new BMW, which was assembled in Germany.3. Categories of expenditures Tim and Alyssa Espinosa live in Swarthmore, PA. Their son, Brian, owns his own plumbing business. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction G M Brian buys a new set of tools to use in his plumbing business. Tim buys a sweater made in Guatemala. Alyssa gets a new video camera made in the United States. Tim's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. - O O O U O o OThe table below gives some of the items in the U.S. National Income and ProductAccounts in 1995.ItemAmount(trillions ofdollars)Consumption expenditure 4.97Investment 1.14Government expenditures 1.37Net exports 0.08Wages 4.20Interest, rent, and profit 1.68Depreciation 0.89a) Use the expenditure approach to calculate U.S. GDP in 1995.b) Use the income approach to calculate U.S. net domestic product at factor cost in
