The phase of the business cyc;e in the united states

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Reference no: EM13808473

1. Classify each of the following items as a final good or service or as an intermediate good or service and identify which is a component of consumption, investment, or government expenditure on goods and services:

banking services bought by a student
new cars bought by Hertz, the car rental firm
newsprint bought by the National post
the purchase of a new limo for the prime minister
new house bought by Alanis Morissette

2. The transactions in Jupiter last year are in the table below. Use this data to

calculate Jupiter's aggregate expenditure
calculate Jupiter's net exports
calculate Jupiter's government expenditure

Item Dollars

GDP 1,400,000

Consumption Expenditure 700,000

Taxes 350,000

Transfer payments 150,000

Profits 300,000

Investment 350,000

Exports 400,000

Savings 400,000

Imports 350,000

3. The IMF World Economic Outlook reports the following unemployment rates:

Region 2010 2011

United States 9.6 8.5

United Kingdom 7.8 7.7

Japan 5.1 4.9

a. What do these numbers tell us about the phase of the Business cyc;e in the United states, the United Kingdom and Japan in 2011?

b. Do these numbers tellus anything about the relative size of the labour force participation rates and employment-to-population rations in the three regions?

Reference no: EM13808473

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