1. From the table below, gross domestic product equals: a. $1,110 b. $1,265 c. $1,470 d. $1,695 Personal Income Taxes $130 Government Purchases of Goods and $150 Services Gross Private Domestic Investment $230 Net Interest $75 Sales Taxes $35 Net Exports of Goods and Services $55 Personal Consumption Expenditures Depreciation $725 $175

1. From the table below, gross domestic product equals: a. $1,110 b. $1,265 c. $1,470 d. $1,695 Personal Income Taxes $130 Government Purchases of Goods and $150 Services Gross Private Domestic Investment $230 Net Interest $75 Sales Taxes $35 Net Exports of Goods and Services $55 Personal Consumption Expenditures Depreciation $725 $175

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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What is the value for Gross Domestic Product if households receive $315 in net interest income, wages equal $10,169, rental receipts on land are $884, total business profits before taxes are $1,862, and indirect business taxes are $1,139? Assume depreciation and net foreign income are zero. Enter the value without a $ and without commas.
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6. Use the following table to answer the question: Items Cash receipts from farm marketing Receipts of government payments Other income from farm sources Production expenses Value of real estate assets Items Value of non-real estate assets Financial assets Liabilities a. What is the Gross Farm Income? b. What is the Net Farm Income? Dollar $750,000 $150,000 $100,000 $400,000 $10 million Dollar $2 million $4 million $9 million
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