How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Mr. Gregory White Your Own Question

Mr. Gregory White
Mr. Gregory White, Master's Degree
Category: Multiple Problems
Satisfied Customers: 4631
Experience:  M.A., M.S. Education / Educational Administration
Type Your Multiple Problems Question Here...
Mr. Gregory White is online now
A new question is answered every 9 seconds

1. Why does inflation make nominal GDP a poor measure of the

Resolved Question:

1. Why does inflation make nominal GDP a poor measure of the increase in total production?






2. Which component of GDP will be affected by each of the following transactions involving FlyCheap Airlines? If you do not believe any component will be affected, briefly explain why.
i. You purchase a ticket on a FlyCheap Airlines to visit your niece.

ii. FlyCheap Airlines purchases a new jetliner from Boeing.

iii. FlyCheap Airlines purchases new seats to be installed on a jetliner it already owns.

iv. FlyCheap Airlines purchases 200 million gallons of fuel.

v. A French citizen purchases a ticket to fly on a FlyCheap flight from Paris to New York.

vi. The city of Nashville agrees to spend funds to extend one of the runways so that FlyCheap will be able to land larger jets.



3. Use the table to answer the following questions.
Year Real GDP (Billions of 2000 Dollars)
1993 $7,113
1994 7,101
1995 7,337
1996 7,533
1997 7,836

i. Calculate the growth rate of real GDP for each year from 1994 to 1997.







ii. Calculate the average annual growth rate of real GDP for the period from 1994 to 1997.




iii. How does the average annual growth rate you calculated in (ii) above compare to the average growth rate the U.S. normally expects?



4. In an open economy, trade is allowed between countries. Assume a consumer purchases $1,000 worth of furniture manufactured in China. Answer the following:
a. Which component(s) of GDP are impacted by this purchase?

b. Does GDP increase, decrease or stay the same? Briefly explain why.

c. Does your answer change if the company in China is a U.S.-owned company? Why or why not?
Submitted: 1 year ago.
Category: Multiple Problems
Expert:  replied 1 year ago.
Thanks so much for the request.

Copy and paste the link below into your browser for the needed resource.

http://db.tt/XwMbURGy

Be sure to put into your own words to give your own voice before submission. This is a,resource to compare with your own thoughts.

All the best in your studies. Feel free to request me again anytime.

:-)
Mr. Gregory White, Master's Degree
Satisfied Customers: 4631
Experience: M.A., M.S. Education / Educational Administration
Mr. Gregory White and 4 other Multiple Problems Specialists are ready to help you
Customer: replied 1 year ago.
I do not see a response to the final question? Maybe an oversight on my part but here it is again, if you would not mind helping me verify my own response:
c. Does your answer change if the company in China is a U.S.-owned company? Why or why not?

I do not think that the answer would change because construction was elsewhere and there would be costs associated with that which would affect GDP. (is this a correct assessment?)

Thank you.

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
< Last | Next >
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
  • Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
  • He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX
 
 
 

Meet The Experts:

 
 
 
  • linda_us's Avatar

    linda_us

    Master's Degree

    Satisfied Customers:

    1051
    Business Analyst and Solution Consultant with over 9 years of experience.
< Last | Next >
  • http://ww2.justanswer.com/uploads/LI/lindaus/2012-6-10_04811_IMG20120609164157.64x64.jpg linda_us's Avatar

    linda_us

    Master's Degree

    Satisfied Customers:

    1051
    Business Analyst and Solution Consultant with over 9 years of experience.
  • http://ww2.justanswer.com/uploads/ED/educatortech/2012-6-7_1256_williams4.64x64.jpg Mr. Gregory White's Avatar

    Mr. Gregory White

    Master's Degree

    Satisfied Customers:

    775
    M.A., M.S. Education / Educational Administration
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Doctoral Degree

    Satisfied Customers:

    565
    Lawyer, Accountant and Researcher
  • http://ww2.justanswer.com/uploads/BU/BusinessTutor/2012-2-2_115741_Kouki2.64x64.jpg Manal Elkhoshkhany's Avatar

    Manal Elkhoshkhany

    Bachelor's Degree

    Satisfied Customers:

    528
    Completed by BA degree in 1988 and graduated with a GPA of 4.0
  • http://ww2.justanswer.com/uploads/JawaadAhmed/2009-6-27_12137_SIs_SHadi.jpg F. Naz's Avatar

    F. Naz

    B.Com

    Satisfied Customers:

    384
    have completed B.Com and CA Finalist
  • http://ww2.justanswer.com/uploads/JK/jkcpa/2011-1-16_182614_jkcpa.64x64.jpg Bizhelp's Avatar

    Bizhelp

    CPA

    Satisfied Customers:

    373
    BA degree and Certified Public Accountant
  • http://ww2.justanswer.com/uploads/MY/MyVirtualCPA/2012-7-5_44024_cookmegan1.64x64.jpg MyVirtualCPA's Avatar

    MyVirtualCPA

    Master's Degree

    Satisfied Customers:

    135
    Master's degree holder who loves to help you understand your MC homework problems