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nomic Growth Paper All interaction on Studypool is 100% anonymous. Username has been changed to protect this user’s privacy Anonymous label Business Finance timer 2 months ago account_balance_wallet $70 Question Description Choose a real residential community of more than one person. ( Community located in CA is better) Describe its macroeconomy. Treat the community as though it were a country. If people don’t want to disclose information, select another community. Answer these questions: What kind of governance does your community have? E.g. homeowner’s association, SCU and dorm administration, city government. How are financial decisions made? Calculate the GDP and its parts: List on a table, and enter the totals of income from all sources, including wages, loans, scholarships, and gifts. You don’t need to list the individual persons’ incomes. List and describe the categories (consumption, investment) and totals of spending, including tuition and housing, and savings. List the purchase and sale of foreign assets such as a bank account. Include total income and GDP income and spending. List these in tables, and then provide relevant explanations. Have there been any investments? ——————————————- Example of two student roommates: Income, annual wages: $3000 foreign interest income: $200 scholarship: $30,000 parents gift: $5000 Total income: $38,200 Subtract transfer payments: $35,200 GDP income: $3000 Spending Tuition for education: $24,000 (counted as consumption in GDP) Food and room: $10,000 Books and supplies: $2000 parties and entertainment: $800 transportation: $400 Total consumption: $37,200 Imports: -$37,200 Labor exports: $3000 Purchase of a foreign asset: $1000 to savings acct. GDP spending: $3000 GDP income = GDP spending Financial account Net exports = exports – imports = $3000 – $37,200 = $34,200 Capital inflow = $1000 – $35,200 = -$34,200 What is the demand for money (average cash holding, including bank accts)? What is the velocity of the money, per year? (use MV=PT setting P=1). Average money held = $1000, in bank account + wallet Velocity = T/M = 37,200 / 1000 = 37.2 excluding tuition V = T/M = 13200/ 1000 = 13.2 —————————————- Describe the labor of the community. Is there any unemployment? If so, what kind, and why? Describe the taxes paid or received: income, sales, property Tags: economic growth economics Unemployment macroeconomy GDP Griffin Real Residential Community Economic Growth Studypool values your privacy. Only questions posted as Public are visible on our website. Tutor Answer All interaction on Studypool is 100% anonymous. Username has been changed to protect this user’s privacy (Top Tutor) DoctorDickens School: New York University Download Complete
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