1. Calculate the values for the blanks in the shaded areas of the table below (identify your responses in a logical fashion in your document): Expenditure Components of GDP by Country, 2018 (billions of US dollars) Australia Canada Denmark Finland India New Zealand Japan 2763.3 UK US Consumption 808.7 996.9 165.9 146.1 1650.6 120.0 1870.5 13998.7 Investment Business fixed investment 336.9 385.1 78.8 65.6 842.7 1202.5 49.1 487.3 4260.7 Changes in inventories 0.1 9.4 2.9 3.4 27.4 11.2 0.1 5.8 54.7 Government 275.5 357.1 86.6 62.7 312.1 981.6 38.4 528.3 2904.3 Net Exports Exports Imports 348.5 544.9 197.9 106.8 548.6 917.1 58.2 856.8 2510.2 312.0 581.1 176.4 108.8 657.0 904.4 58.1 907.1 3148.5 GDP Source: UNData, UN Statistics Division, data.un.org, GDP by Type of Expenditure at current prices – US dollars

1. Calculate the values for the blanks in the shaded areas of the table below (identify your responses in a logical fashion in your document): Expenditure Components of GDP by Country, 2018 (billions of US dollars) Australia Canada Denmark Finland India New Zealand Japan 2763.3 UK US Consumption 808.7 996.9 165.9 146.1 1650.6 120.0 1870.5 13998.7 Investment Business fixed investment 336.9 385.1 78.8 65.6 842.7 1202.5 49.1 487.3 4260.7 Changes in inventories 0.1 9.4 2.9 3.4 27.4 11.2 0.1 5.8 54.7 Government 275.5 357.1 86.6 62.7 312.1 981.6 38.4 528.3 2904.3 Net Exports Exports Imports 348.5 544.9 197.9 106.8 548.6 917.1 58.2 856.8 2510.2 312.0 581.1 176.4 108.8 657.0 904.4 58.1 907.1 3148.5 GDP Source: UNData, UN Statistics Division, data.un.org, GDP by Type of Expenditure at current prices – US dollars

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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GDP 1. Calculate the values for the blanks in the shaded areas of the table below (identify your responses in a logical fashion in your document): Consumption Investment Business fixed investment Changes in inventories Government Net Exports Exports Imports Expenditure Components of GDP by Country, 2018 (billions of US dollars) Australia Canada Denmark Finland India Japan New Zealand 808.7 996.9 165.9 146.1 1650.6 2763.3 120.0 336.9 0.1 275.5 348.5 312.0 385.1 9.4 357.1 544.9 581.1 78.8 2.9 86.6 197.9 176.4 65.6 842.7 3.4 27.4 62.7 312.1 1202.5 11.2 981.6 Which country has the largest negative net exports? 106.8 548.6 917.1 108.8 657.0 904.4 GDP Source: UNData, UN Statistics Division, data.un.org, GDP by Type of Expenditure at current prices - US dollars 2. Based on the information in the table and your calculations for Question #1: Do any countries have positive net exports? Which one(s)? 49.1 0.1 38.4 58.2 58.1 UK 1870.5 487.3 5.8 528.3 856.8 907.1 US 13998.7 4260.7 54.7 2904.3…
Question 3
Question 1: For each of the activities listed below, determine if it should be included in calculating the 2022 Canadian GDP using the expenditure approach by selecting INCLUDED or NOT INCLUDED and the corresponding reason. Activity Included/Not included Reason A Bombardier jet made in Quebec and sold to Martinique in 2022. A house built in Toronto in 2021 but not sold until 2022. A new federal courthouse built in Calgary in 2022. A fine chocolate bar produced in Denmark and sold in Vancouver in 2022. A case of whiskey produced in Ontario in 2022 and sold to someone in Spain in 2023. A newly planted wheat farm in Manitoba in 2022. A resident of New Brunswick pays her property taxes in 2022. A performance by a Japanese acrobatic dance company in Edmonton in 2022. Payment by a resident of Montreal to their neighbor's daughter for five hours of dog-sitting service in 2022. . Purchase of 100 shares of…
The table below shows hypothetical values of the expenditure components for the United States in 2016. Expenditure Component Amount of Expenditure (billions of dollars) Durable goods $1,269.30 Nondurable goods 2,638.30 Services 7,763.00 Gross investment 2,682.40 Exports 2,302.90 Imports 2,803.60 Federal government 1,250.00 State and local government…
What is the difference between gross private domestic investment and net private domestic investment? If you were to determine net domestic product (NDP) through the expenditures approach, which of these two measures of investment spending would be appropriate? Explain.
Category Expenditure (in billions of 2020 Q2 NZ Dollars) Household final consumption 40.3 Government final consumption 15.7 Budget balance -3.8 Total investment 14.4 Change in inventories -3.6 Exports of goods and services 18.6 Imports of goods and services 16.5 Calculate Africa's planned investment in the second quarter of 2020.
Personal consumption expenditures $4,750 Exports $810 Federal government spending $1,400 Social Security taxes $600 Depreciation $450 Indirect Business Taxes $550 New Residential Construction $800 Imports $850 Non Residential Investment $300 Corporate Income Taxes $200 Corporate Profits $50 Personal Taxes $800 Business Taxes $1,000 Transfer Payments $700 Part A: In the table above and using the Expenditure Approach calculate the Gross Domestic Product (GDP) in millions of dollars Part B: Now assume that consumers purchase an extra $2000 of goods produced overseas, i.e., the consumption expenditures (from Part A) increase to $6,750. How would this scenario affect the GDP deflator, i.e., increase, decrease, remain unaffected or there is not enough information to tell?
The following table shows data on personal consumption expenditures, gross private domestic investment, exports, imports, and government consumption expenditures and gross investment for the United States in 2007, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the following table to calculate GDP. Components Personal Consumption Expenditures (CC) $9,734.2 Gross Private Domestic Investment (II) $2,125.4 Exports (XX) $1,643 Imports (MM) $2,351 Net exports of goods and services (X−MX−M) Government Consumption Expenditures and Gross Investment (GG) $2,689.8 Gross domestic product (GDP) This method of calculating GDP, which involves summing the , is called the approach.
The components of GDP in the accompanying table were produced by the Bureau of Economic Analysis. Components of GDP in 2013 (billions of dollars) Category Consumer spending Durable goods $1,263.0 Nondurable goods 2,622.9 Services 7,615.7 Private investment spending Fixed investment spending 2,564.0 Nonresidential 2,047.1 Structures 456.4 Equipment and intellectual property products 1,590.7 Residential 516.9 Change in private inventories 106.1 Net exports Exports 2,259.9 Imports 2,757.2 Government purchases of goods and services and investment spending Federal 1,245.9 National defense 770.7 Nondefense 475.1 State and local 1,879.6 a. Calculate 2013 consumer spending. b. Calculate 2013 private investment spending. c. Calculate 2013 net exports.
Posted part (d) and (e) as another question. Please do that too.
The following expenditure equation is utilised to measure the economy: GDP = C + I + G + (X-M) Analyse each of the situations below and state which expenditures (or parts of the expenditures) would be counted under which of the four segments of the GDP expenditure equation, ie C, I, G or (X-M). a. The purchase of Australian made furniture by a business for use in its cafe. b. The purchase of foreign made furniture by a business for use in its café. c. The purchase of wood by a business to manufacture furniture which will then be sold to Australian and foreign customers. d. The purchase of 100 shares in ANZ Bank through a stockbroker. e. Purchase of a 10-year-old foreign-made second-hand car from a Car Sales business in Parramatta, NSW. f. A pension paid by the Australian Government to an old age pensioner. g. You babysit for your nieces and nephews so your sister and her husband can go out for dinner.
GDP Data (in $ billion) Table 7-1 Durable goods = $10,600.49 Services = $12,500.56 %3D Business purchases of capital goods = $1,080.00 Fixed investment = $1,970.45 Exports = $700.00 Imports = $820.46 Nondurable goods = $1,000.46 Inventory investment = $301.25 Government transfer payments - $1,240.26 %3D Purchases of new residential housing - $890.45 Government purchases = $7.890.56 Refer to Table 7-1. GDP is equal to O S34,141.31 O $33,143.31 O $34,133.31 O $34.143.31