Question

3. Identify the four major factors of Gross Domestic Product, and define or give an example...

3. Identify the four major factors of Gross Domestic Product, and define or give an example of each.

Homework Answers

Answer #1

Four major factors of GDP are:

  • Consumption: Consumption can be defined as total demand by the consumers in the economy. if we want to eat an ice cream then we are consumers and creating a demand.
  • Investment that is the amount the business and individuals invest to generate more capacity in the economy. THe higher the investment the more the economy will grow. Example, John buying a new tractor for hi farm.
  • Government expenditure is the demand created by the government to buy thing in the economy. It is considered as autonomous like defence spending.
  • new export, that is exports - imports its a sum total of all the exports the nation has done subtracted by all the imports they have made.
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Define gross domestic product.
Define gross domestic product.
The formula for Gross Domestic Product (GDP) is as follows: Y = C + I +...
The formula for Gross Domestic Product (GDP) is as follows: Y = C + I + G + NX Define the variables in the equation and give an example for each of them with the exception of Y.
1. the gross domestic product of a country.is it measurable or categorical,why. if categorical further classify...
1. the gross domestic product of a country.is it measurable or categorical,why. if categorical further classify if its norminal or ordinal and give reasons. 2. the rating of a hotel according to the number of stars it has. is it measurable or categorical,why. if categorical further classify if its norminal or ordinal and give reasons 3. identify the experimental units,response variable,factors, levels of each factor, and number of treatment of the effect of four different concerntrations of manure ( 0,...
Define Literacy rate, human capital, the cycle of poverty, and gross domestic product (GDP). What is...
Define Literacy rate, human capital, the cycle of poverty, and gross domestic product (GDP). What is the relationship between these? Explain in detail.
what are the disadvantages of gross national product? Give an example
what are the disadvantages of gross national product? Give an example
Part 1 Assignment: Gross Domestic Product · Complete the Gross Domestic Product worksheet. To access the...
Part 1 Assignment: Gross Domestic Product · Complete the Gross Domestic Product worksheet. To access the Gross Domestic Product data required in the worksheet from the government website, use the following click stream: > Access the website, http://www.bea.gov > Under the "National" heading, click “Gross Domestic Product.” > Under the heading “Gross Domestic Product,” click on “Interactive Tables: GDP and the National Income and Product Account (NIPA) Historical Tables.” > Click on “Begin using the data” > Select “Section I...
Use an equation to explain how the growth of nominal gross domestic product (GDP), the growth...
Use an equation to explain how the growth of nominal gross domestic product (GDP), the growth of real GDP, and the change in price level are related. Give an example.
5. Define Gross Domestic Product. 6. Write the Expenditure Approach Formula. 7. In general, what is...
5. Define Gross Domestic Product. 6. Write the Expenditure Approach Formula. 7. In general, what is the largest component of the Expenditure Formula? 8. Define Nominal GDP and Real GDP. Explain why Real GDP is a better measure to make comparisons.
Question 1: a. (IN YOUR WORDS), define Gross Domestic Product (GDP). b. A Kuwaiti businessman has...
Question 1: a. (IN YOUR WORDS), define Gross Domestic Product (GDP). b. A Kuwaiti businessman has a factory in England, does Kuwaiti GDP includes the value of the products that this factory produces? Why?                                                                 
What are the four major classes of illicit drugs by their pharmacological effect? Give an example...
What are the four major classes of illicit drugs by their pharmacological effect? Give an example of each.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT