1. Given the following national income and product accounts data, compute I, NX, NI, PI, DI,NNP, GNP, and GDPDepreciationAmount of national income not going to householdsCompensation of employeesCorporate profitsDividendsExportsGovernment consumption and gross investmentImportsIndirect taxes minus subsidiesNet business transfer paymentsNet interestNet private domestic investmentPersonal consumption expendituresReceipts of factor income from the rest of the worldPersonal income taxesProprietors' incomePayments of factor income to the rest of the worldRental incomeStatistical discrepancySurplus of government enterprises3.12,5322005 489.42006 505.7 12,7462007 526.713,0112008 553.0 13,2752009 565.8 13,5032010 563.12011 553.5 13,7571,215The following table provides information about Canadian economy for a seven-yearperiod, given 2006 is the base year.Year Real GDP Labor force Unemployed Employed Unemployment Population(Billions) (Thousands) (Thousands) (Thousands)Rate(millions)(%)10.4611,0311,0181,1091,41711,2211055112,48512,57212,3401,4071614913343314737112424901,377223921684321-15989.5328.8397.5398.10625.225.325.625.926.226.627.0A. Fill in the missing values in the table.B. Calculate the percentage change in real GDP between 2007 and 2008. Compare this valuewith the percentage change in employment in this period. Do the same analysis for thetwo-year period 2010-11.C. Does there appear to be a positive or negative relationship between real GDP andemployment for these two periods.D. Between 2009 and 2010 the unemployment rate increased while employment increased.How is this possible?E. Calculate the value of real GDP per capita for 2005 and 2011.

1. Given the following national income and product accounts data, compute I, NX, NI, PI, DI, NNP, GNP, and GDP Depreciation Amount of national income not going to households Compensation of employees Corporate profits Dividends Exports Government consumption and gross investment Imports Indirect taxes minus subsidies Net business transfer payments Net interest Net private domestic investment Personal consumption expenditures Receipts of factor income from the rest of the world Personal income taxes Proprietors' income Payments of factor income to the rest of the world Rental income Statistical discrepancy Surplus of government enterprises 105 51 1,407 161 49 133 433 147 371 12 42 490 1,377 22 392 168 43 21 -15 98

1. Given the following national income and product accounts data, compute I, NX, NI, PI, DI, NNP, GNP, and GDP Depreciation Amount of national income not going to households Compensation of employees Corporate profits Dividends Exports Government consumption and gross investment Imports Indirect taxes minus subsidies Net business transfer payments Net interest Net private domestic investment Personal consumption expenditures Receipts of factor income from the rest of the world Personal income taxes Proprietors' income Payments of factor income to the rest of the world Rental income Statistical discrepancy Surplus of government enterprises 105 51 1,407 161 49 133 433 147 371 12 42 490 1,377 22 392 168 43 21 -15 98

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

1. Given the following national income and product accounts data, compute I, NX, NI, PI, DI,
NNP, GNP, and GDP
Depreciation
Amount of national income not going to households
Compensation of employees
Corporate profits
Dividends
Exports
Government consumption and gross investment
Imports
Indirect taxes minus subsidies
Net business transfer payments
Net interest
Net private domestic investment
Personal consumption expenditures
Receipts of factor income from the rest of the world
Personal income taxes
Proprietors' income
Payments of factor income to the rest of the world
Rental income
Statistical discrepancy
Surplus of government enterprises
3.
12,532
2005 489.4
2006 505.7 12,746
2007 526.7
13,011
2008 553.0 13,275
2009 565.8 13,503
2010 563.1
2011 553.5 13,757
1,215
The following table provides information about Canadian economy for a seven-year
period, given 2006 is the base year.
Year Real GDP Labor force Unemployed Employed Unemployment Population
(Billions) (Thousands) (Thousands) (Thousands)
Rate
(millions)
(%)
10.461
1,031
1,018
1,109
1,417
11,221
105
51
12,485
12,572
12,340
1,407
161
49
133
433
147
371
12
42
490
1,377
22
392
168
43
21
-15
98
9.532
8.839
7.539
8.106
25.2
25.3
25.6
25.9
26.2
26.6
27.0
A. Fill in the missing values in the table.
B. Calculate the percentage change in real GDP between 2007 and 2008. Compare this value
with the percentage change in employment in this period. Do the same analysis for the
two-year period 2010-11.
C. Does there appear to be a positive or negative relationship between real GDP and
employment for these two periods.
D. Between 2009 and 2010 the unemployment rate increased while employment increased.
How is this possible?
E. Calculate the value of real GDP per capita for 2005 and 2011.

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Table 23-2 The table below contains data for the country of Crete for the year 2018. Total income Household purchases of durable goods Household purchases of nondurable goods Household purchases of non-education services Household purchases of education services Household purchases of new housing Purchases of capital equipment Inventory changes Purchases of new structures Depreciation Local government spending on goods and services State government spending on goods and services Federal government spending on goods and services Transfer payments Foreign purchases of domestically produced goods Domestic purchases of foreign goods 8. Refer to Table 23-2. What was Crete's GDP in 2018? a. $4623 b. $5731 c. $6037 d. $6839 $5731 $1108 $702 $203 $302 $816 $333 $75 $267 $401 $236 $419 $1182 $707 $217 $129 9. Refer to Table 23-2. What was Crete's consumption in 2018? a. $1810 b. $2013 c. $2315 d. $3131