Suppose You Are Given the Following Information About Country A

question 58

Essay

Suppose you are given the following information about Country A: $$\begin{array} { | c | c | } \hline \text { Item } & \text { Dollars } \\\hline \text { Consumption expenditure } & 700,000 \\\hline \text { Taxes } & 400,000 \\\hline \text { Transfer payments } & 100,000 \\\hline \text { Investment } & 350,000 \\\hline \text { Government purchases } & 250,000 \\\hline \text { Exports } & 350,000 \\\hline \text { Imports } & 300,000 \\\hline\end{array}$$ (A) Calculate Caunty A's GDP.
(B) Which of the three appraaches did you use to calculate GDp? Egialain what information you wauld need to calculate GDP using the ather wa appraaches.
(C) Calculate national 5aring.
(D) Calculate private saving.

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Definitions:

Positive Correlation

A relationship between two variables in which both variables move in the same direction.

Foot Size

A measurement of the length of a person's foot, often used in determining appropriate shoe fitting.

Neutral

Not supporting or helping either side in a conflict, dispute, or competition.

Independent Variable

In experimental studies, this is the variable that the researcher alters to examine its impact on the dependent variable.