In a simple economy, suppose that all income is either compensation of employees or profits. Suppose also that there are no indirect taxes. All data are in billions of dollars. Category Value Consumption $9 comma 000.00 Gross investment 3 comma 200.00 Depreciation 1 comma 532.00 Profits 2 comma 297.25 Exports 850.00 Compensation of employees 11 comma 486.25 Government purchases 3 comma 200.00 Direct taxes 1 comma 150.00 Saving 3 comma 633.00 Imports 935.00 Using the expenditure approach, GDP is $ nothing billion. (Round your response to two decimal places.)

He set of companies a product goes through on the way to the consumer is called the a. economic utility b. cottage industry c. market saturation d. distribution chain

Monica needs to assess the slide sequence and make quick changes to it. which view should she use in her presentation program? a. outline b. slide show c. slide sorter d. notes page e. handout

1) u.s. real gdp is substantially higher today than it was 60 years ago. what does this tell us, and what does it not tell us, about the well-being of u.s. residents? what are the limitations of the gdp as a measure of economic well-being? given the limitations, why is gdp usually regarded as the best single measure of a society’s economic well-being? 2) what is an intermediate good? how does an intermediate good differ from a final good? explain why it is the case that the value of intermediate goods produced and sold during the year is not included directly as part of gdp, but the value of intermediate goods produced and not sold is included directly as part of gdp.