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Teaching Since: Apr 2017
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    Harvard university
    Feb-1997 - Aug-2003

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    Strayer University
    Jan-2007 - Present

Category > Economics Posted 22 Jun 2017 My Price 7.00

Question 1

Question 1
Do government statisticians calculate GDP by simply adding up the total sales of all business firms
in one year? Explain! Question 2
Indicate which category (if any) of Expenditure the following fall into and explain why:
a. the purchase of a new Toyota (made in Georgetown, KY) car for private, non-business use.
b. the purchase of a new house.
c. the purchase of corporate bonds. Question 3
Explain the difference between "real" GDP and nominal GDP. Why is understanding the terms
important? Question 4
From the Bureau of Economic Analysis Web page (www.bea.gov), compare real GDP for 1970,
1980, 1990, 2000, and 2010. Show the percentage change in real GDP over each of those
decades. do the percentages of GDP spent on consumption (C), investment (I), Government
(G), exports (X), and imports (M) differ significantly among those years? Are there changes in
the balance of trade over the period? Explain. Question 5
From the Bureau of Labor Statistics Web Page (www.bls.gov/cpi), find the answers
to the following questions:
a.
b.
c.
d. How is the CPI used?
How is the CPI market basket determined?
What goods and services does the CPI cover?
How are CPI prices collected and reviewed? Question 6
From the National Bureau of Economic Research Web site (www.nber.org) , find the official
beginning and end dates of the recessions that have occurred since 1965. Which recession was the
longest and which was the shortest?

Answers

SuperTutor
(15)
Status NEW Posted 22 Jun 2017 05:06 AM My Price 7.00

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