The following table contains data for a hypothetical

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Macroeconomics for Today
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Chapter 20 / Exercise 1
Macroeconomics for Today
Tucker
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5.  The following table contains data for a hypothetical economy:According to the expenditure approach, if depreciation is $50 million, GDP is _____________ and NDP is ___________. $500 MillionWages$650 MillionInvestment Expenditures$200 MillionInterest Payments$100 MillionGovernment Expenditures$250 MillionInterest Receipts$190 MillionTotal Exports$100 MillionRent$200 MillionTotal Imports$150 MillionProfits$10Million
 
6.  The biggest component of GDP using the expenditure approach is ____________ and the biggest component of GDP using the income approach is _____________.  
7.  To derive GDP using the expenditureapproach,which of the following components are addedtogether?
8.  Which of the following equations is correct?
9.  Gross domestic income (GDI) is identical to gross domestic product (GDP).  
Which of the following equations is used to calculate gross domestic income (GDI)?
Consumer Expenditures$500 MillionWages$650 MillionInvestment Expenditures$200 MillionInterest Payments$100 MillionGovernment Expenditures$250 MillionInterest Receipts$190 MillionTotal Exports$100 MillionRent$200 MillionTotal Imports$150 MillionProfits$10Million
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Macroeconomics for Today
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Chapter 20 / Exercise 1
Macroeconomics for Today
Tucker
Expert Verified
.
  .
 8.5 Distinguishing Between Nominal and Real Values Study Plan1.  Consider the following table for the economy of a nation whose residents produce five finalgoods:2015 2019GoodPriceQuantityPriceQuantityShampoo$2.0114$3.5520External hard drives $204.488$268.978Books$38.085$51.183Milk$2.6711$4.311Candy$1.2138$1.9116a. Assume 2015is the base year. Calculate nominal GDPfor 2015
Calculate nominal GDP for 2019
× 16) s= $2,411.17.

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