Business, 20.06.2020 00:57, tyw3366812778

GDP and National Income • Case - An economy produces 1,000,000 automobiles values at 15.000 each of these, 700,000
sold to consumers, 200,000 are sold to businesses, 50,000 are sold to government, and 35.000 ure
sold abroad. No automobiles are imported. The automobiles left unsold are kept in inventory. Find the
GDP in terms of the expenditure approach
Unemployment, Inflation and Long-run Growth table analysis.
TABLE
Cost of Reproducing the 2000 Base-Year) of Good and
Services in Year 2005
TABLE 6.0
Monthly Household Budget of the Typical Family in 2000 (Bae Year)
Item
Cost (In 2000)
Rant, two-bedroom apartment
5500
Hamburgers (60 52.00 each)
120
Movie tickets (10 56.00 each)
Total expenditure
30
Movie (1000
tal apart
Ils
Analyze the tables above and answer the following:
1. what has occurred in terms of prices from 2000 to 2005?
2. To be able to afford the same goods and services in 2005 that this family had in 2000, what amount of
increase in expenditure would be required?

Answers: 3

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GDP and National Income • Case - An economy produces 1,000,000 automobiles values at 15.000 each of...