During the production process of goods and services produced within the nation during 2022, the total...
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During the production process of goods and services produced within the nation during 2022, the total income generated is as follows: a) Salaries and wages to households providing labor (L): 500,000 b) Profit and rent to households providing capital and land (KT): 5,000,000 Based on the above information, determine the value of nominal GDP for 2022. Thoroughly explain your answer. 2) During 2022, Nation Z produced only 10 goods. Goods A, B C, D and E are intermediate goods. Goods F, G, H, I and I are final goods. The intermediate goods (A, B, C, D and E) are used in the production of the final goods (F. G. H, I and J). The quantities produced and sold of each good in 2022 are as follows: Q50 units; Q 40 units; Q 60 units; Qu 70 units; Q 30 units; Q 40 units; Q60 units; Q 50 units; Q= 30 units: Q= 70 units The 2022 market prices of each good are as follows: PA= 200; P=305; P=600; P=50; P=400; P=300; P= 200; P=505; P=400; P=305. Based on the above information, determine the value of nominal GDP for 2022. Thoroughly explain your answer. 3) In 2022: a) Total expenditure on final goods and services by households (C) in country A = 800 ; of which 200 * are expenditure on final goods and services produced in other countries; b) Total expenditure on final goods and services by firms (10) in country A= 900 *; of which 400 * are expenditure on final goods and services produced in other countries; c) Total expenditure on final goods and services by government (G) in country A = 800 *; of which 200 & are expenditure on final goods and services produced in other countries; d) Total expenditure on final goods and services produced in country A and purchased by citizens from other countries (X) = 2,000 s Based on the above information, determine the value of nominal GDP for 2022. Thoroughly explain your answer. During the production process of goods and services produced within the nation during 2022, the total income generated is as follows: a) Salaries and wages to households providing labor (L): 500,000 b) Profit and rent to households providing capital and land (KT): 5,000,000 Based on the above information, determine the value of nominal GDP for 2022. Thoroughly explain your answer. 2) During 2022, Nation Z produced only 10 goods. Goods A, B C, D and E are intermediate goods. Goods F, G, H, I and I are final goods. The intermediate goods (A, B, C, D and E) are used in the production of the final goods (F. G. H, I and J). The quantities produced and sold of each good in 2022 are as follows: Q50 units; Q 40 units; Q 60 units; Qu 70 units; Q 30 units; Q 40 units; Q60 units; Q 50 units; Q= 30 units: Q= 70 units The 2022 market prices of each good are as follows: PA= 200; P=305; P=600; P=50; P=400; P=300; P= 200; P=505; P=400; P=305. Based on the above information, determine the value of nominal GDP for 2022. Thoroughly explain your answer. 3) In 2022: a) Total expenditure on final goods and services by households (C) in country A = 800 ; of which 200 * are expenditure on final goods and services produced in other countries; b) Total expenditure on final goods and services by firms (10) in country A= 900 *; of which 400 * are expenditure on final goods and services produced in other countries; c) Total expenditure on final goods and services by government (G) in country A = 800 *; of which 200 & are expenditure on final goods and services produced in other countries; d) Total expenditure on final goods and services produced in country A and purchased by citizens from other countries (X) = 2,000 s Based on the above information, determine the value of nominal GDP for 2022. Thoroughly explain your answer.
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