3. Bureau of Economic Analysis in the USA is responsible for construction and maintenanceof national income and product accounts (NIPA). Measurement began in the 1930s due tofrustration of Roosevelt and Hoover trying to design policies to combat the GreatDepression. Simon Kuznets (Nobel laureate) was commissioned to develop initialmethodology and estimates. In 1947, the process became much more consistent.Methodologies have frequently been changed (improved?) as a result of advances ineconomics, accounting, and data collection. Past data are then revised to reflect newdefinitions.On the following information, calculate GNP at factor cost. Whether GNPFC derive fromincome method equivalent to expenditure method?S.No. ItemsRs. (In Crores)1Private final consumption expenditure10002Net domestic capital formation200(Investment)Profit4004Compensation of employers (Wages and800salaries)Rent2506.Government final consumption500expenditureConsumption of fixed capital760(Depreciation)8.Interest150Net factor income from abroad(-10)10Net exports(-20)11Net indirect taxes80

Calculation of GNP at factor cost (GNPFC) from the given data using the income method:Income…

Answered: 3. Bureau of Economic Analysis in the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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just part (d) and (e)
Suppose the relationship between the government's tax revenue (T) and national income (Y) is represented by the equation T = 30 +0.5Y. Plot this relationship on a scale diagram, with Y on the horizontal axis and T on the vertical axis. Interpret the equation. Use the line drawing tool to draw the equation. Make sure to plot the vertical axis as one endpoint of the line. Properly label this line. Carefully follow the instructions above, and only draw the required objects.
You are employed by the state bureau of economic development. There is a demand for a leading economic index to review past economic activity and to forecast future economic trends in the state. You decide that several key factors should be included in the index: number of new businesses started during the year, number of business failures, state income tax receipts, college enrollment, and the state sales tax receipts. Here are the data for 2000 and 2018. New businesses Business failures State income tax receipts ($ millions) College student enrollment State sales tax ($ millions) Click here for the Excel Data File Leading economic indicator 2000 1,088 Economic activity has 627 191.7 increased decreased 242,119 41.6 c. Interpret the indexes. (Round your answer to 2 decimal places.) 2018 1,162 The weights you assign are: new businesses 15%, business failures 10%, income tax 40%, enrollment 10% and sales tax 25%. b. Compute the leading economic indicator for 2018. (Round your answer to…
(A) Describe the direction and the form of the relationship aside from the outliers it is moderatley strong. (B) Explain why the direction and form of this relationship make sense.
In the loanable funds market, if firms become more optimistic about future profitability, then the a demand for loanable funds will increase, interest rates will increase, and private sector investment spending will increase. b demand for loanable funds will decrease, interest rates will decrease, and the equilibrium quantity of borrowing will decrease. c supply of loanable funds will increase, interest rates will decrease, and the equilibrium quantity of borrowing will increase. d supply of loanable funds will increase, interest rates will increase, and private sector investment spending will increase.
The number of pending corporate fraud cases in federal court stood at 545 at the beginning of 2008 (t = 0). The number of cases had grown to 726 at the beginning of 2012. Assume the growth has been approximately linear. Develop the equation of the line that describes this linear growth. Then use that linear equation to estimate the number of cases pending at the beginning of 2014, assuming that the linear growth continues at the same rate.
You are employed by the state bureau of economic development. There is a demand for a leading economic index to review past economic activity and to forecast future economic trends in the state. You decide that several key factors should be included in the index: number of new businesses started during the year, number of business failures, state income tax receipts, college enrollment, and the state sales tax receipts. Here are the data for 2000 and 2018. New businesses Business failures State income tax receipts ($ millions) College student enrollment State sales tax ($ millions) Click here for the Excel Data File Leading economic indicator The weights you assign are: new businesses 17%, business failures 10%, income tax 34%, enrollment 14% and sales tax 25%. b. Compute the leading economic indicator for 2018. (Round your answer to 2 decimal places.) 2000 1,125 592 196.2 242,159 46.1 Economic activity has 2018 1,059 286 178.8 291,079 66.7 c. Interpret the indexes. (Round your answer…
Please give me correct answer with calculation Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate.
Consider the ISLM model. If the government and central bank used a combination of expansionary fiscal policy and expansionary monetary policy, which of the following would occur? (a) There would be a rise in equilibrium national income and a fall in the equilibrium rate of interest. (b) There would be a fall in equilibrium national income and a fall in the equilibrium rate of interest. (c) There would be a rise in equilibrium national income and an unknown effect on interest rates. (d) There would be a fall in equilibrium national income and a rise in the equilibrium rate of interest.
The Wall Street Journal’s website, www.wsj.com, reported the number of cars and light-duty trucks sold through October of 2014 and October of 2015. The top sixteen manufacturers are listed here. The sales information for all manufacturers can be accessed in a data file below. Sales data are often reported in this way to compare current sales to last year’s sales. Year-to-Date Sales Manufacturer Through October 2015 Through October 2014 General Motors Corp. 2,562,840 2,434,707 Ford Motor Company 2,178,587 2,065,612 Toyota Motor Sales USA Inc. 2,071,446 1,975,368 Chrysler 1,814,268 1,687,313 American Honda Motor Co Inc. 1,320,217 1,281,777 Nissan North America Inc. 1,238,535 1,166,389 Hyundai Motor America 638,195 607,539 Kia Motors America Inc. 526,024 489,711 Subaru of America Inc. 480,331 418,497 Volkswagen of America Inc. 294,602 301,187 Mercedes-Benz 301,915 281,728 BMW of North America Inc.…
Disposable income, the amount left after taxes have been paid, is one measure of the health of the economy. Using U.S. Energy Information Administration data for selected years from 2015 and projected to 2040, the U.S. real disposable income per capita (in dollars) can be approximated by the equation I = 707.6t + 39,090 where t is the number of years after 2015. (a) What t-value corresponds to 2021? t = (b) Find the predicted U.S. per capita real disposable income (to the nearest $10) in 2021. $ (c) In what year is the U.S. per capita real disposable income expected to exceed $55,000? Extreme Protection, Inc. manufactures helmets for skiing and snowboarding. The fixed costs for one model of helmet are $6600 per month. Materials and labor for each helmet of this model are $55, and the company sells this helmet to dealers for $85 each. (Let x represent the number of helmets sold. Let C, R, and P be measured in dollars.) (a) For this helmet, write the function for monthly total costs…

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