What is the size of the underground economy as a percentage

Assignment Help Econometrics
Reference no: EM13236754

Assume that the total value of the following items is $600 billion in a specific year for Upper Mongoose: net exports = $50 billion; value of new goods and services produced in the underground economy = $75 billion; personal consumption expenditures = $300 billion; value of the services of stay-at-home parents = $25 billion; gross domestic investment = $100 billion; government purchases = $50 billion. What is Upper Mongoose's GDP for the year? What is the size of the underground economy as a percentage of GDP? By what percentage would GDP be boosted if the value of the services of stay-at-home spouses were included in GDP?

Reference no: EM13236754

Questions Cloud

Explain how old is the fossil : All living things contain carbon. Most of this carbon is stable carbon-12. However, a small percentage will be carbon-14, a radioactive isotope of carbon that decays with time. As living things eat and breath, carbon is constantly recycled and the..
What is the thickness of the strip : A strip of doped silicon 325 µm wide contains 9.6 1022 conduction electrons per cubic meter and an insignificant number of holes, What is the thickness of the strip
Find the average annual inflation rate as measured : U.S. Nominal GDP for the year 2010 was $14,658 billion, whereas in 2000 it was $9,951 billion. The GDP deflator for 2000 (2010) was 88 (111) using 2005 as a base year. Using the compound growth formula xt+n = xt(1 + g)^n
Explain how many molecules of b2o3 are made : Consider the following reaction: 2 B5H9 + 12 O2 => 5 B2O3 + 9 H2O How many molecules of B2O3 are made by the reaction of 164.9 g of B5H9
What is the size of the underground economy as a percentage : Assume that the total value of the following items is $600 billion in a specific year for Upper Mongoose: net exports = $50 billion; value of new goods and services produced in the underground economy = $75 billion
Population of all sample means is normally distributed : A sample size of 900 is not large enough to conclude that the sampling distribution of p is a normal distribution, when the estimate of the population proportion is 0.995 and the standard deviation of all possible sample proportions increases as th..
What is the present equivalent of overhaul expenses at time : Major overhaul expenses of $5,000 each are anticipated for a large piece of earthmoving equipment. The expenses will occur at EOY four and will continue every three years thereafter up to and including year 13.
Explain how much energy was absorbed by the mouse''s body : If a 55 laboratory mouse is exposed to 21.5 rad of radiation, how much energy was absorbed by the mouse's body
What is the magnitude of the electric field at p : A thin glass rod forms a semicircle of radius r = 3.03 cm. Charge is uniformly distributed along the rod, with +q = 1.05 pC in the upper half and -q = -1.05 pC in the lower half

Reviews

Write a Review

Econometrics Questions & Answers

  What are the autarky price of shoes and the quantity produce

a. What are the autarky price of shoes and the quantity produced b. What are the levels of domestic production, consumption, and imports if the world price is $10 c. How do your answers in part b change if this country were to impose a tariff of 3$

  Determine which alternative the firm should select

Cash Flow A B C Initial cost $15,000 $27,500 $22,500 O & M costs / year $ 1,600 $ 375 $ 1,100 Annual cost savings $ 7,000 $ 9,500 $ 9,000 Salvage value $ 3,000 $ 7,250 $ 4,500 Using incremental rate of return analysis, determine which alternative ..

  What is the value of real gdp-worker at that state

With the assumption that A=1, and the share of labor in the national income is 1/2. Also K=120 million dollars and L= 10 million units and saving rate = 35% and the depreciation rate is 10%.  How many periods it will take this economy to reach the ..

  What would a export in adam smiths world

Country B has 35000 units of labor and takes 7 units of labor to produce one unit of manufactures and 5 units to produce one unit of food. What is the price of manufactures in terms of food at which A and B would respectively supply manufactures.

  How much percent can we expect the price of rental apartment

How much percent can we expect the price of rental apartments to rise after the law is enforced, if we know that we expect an additional rise in demand for rental apartments which will cause an additional 20 percent rise in the number of apartment..

  What does reflect an absolute or a comparative advantage

The average retail price of the cookbook will be $30, and the average cost will be $20. Assume that the equation for demand is Q = 10,000 - 9,000P, where Q = the number of cookbooks sold per month P = the retail price of books.

  Find how many surgical kits and part packages of each type

David Christopher is an orthopedic surgeon who specializes in three types of surgery hip, knee, and ankle replacements. the surgery mix is 40 percent hip replacement, 50 percent knee replacement, and 10 percent ankle replacement.

  What would have been the size of the multiplier

Suppose that an initial $40 billion increase in investment spending expands GDP by $40 billion in the first round of the multiplier process. If GDP and consumption both rise by $36 billion in the second round of the process, what is the MPC in thi..

  Determine the marginal cost of a television

suppose the marginal cost of a television is $100 the annual demand for the television set its given by the equation Q=200,000-500(p) question: suppose television sets are banned calculate the loss in consumer surplus as a result of this action

  What current production rates are maintained

Blair has decided to manufacture the sub assemblies within the company and must now consider whether to rent one centerly located facility or to rent three separate facilities, each located near one of the assembly plants, where each facility woul..

  How much money will be in each account 6 years

Jim deposits $3,000 in a savings account that pays 6% interest compounded monthly. Three years later he deposits $4,000. Two years after the 4,000 deposit, he makes a final deposit of $6,000. Four years after the $6,000 deposit.

  What is the price of oil and quantity of oil produced

Suppose that 3 countries who form a cartel agreed to divide the oil market equally. Demand for oil is given by P=50-.1Q where P is the price of oil in dollars per barrel and Q is the Quantity in thousands of barrels per day.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd