4. Suppose that you are given the following data for the country of Trumpland: 12,800 10,000 3,100 2,200 2,700 2,900 consumption net factor income from abroad 200 interest payments capital consumption allowance government spending on goods and services 2,400 2,900 3,200 wages investment exports imports profits rental payments 700

4. Suppose that you are given the following data for the country of Trumpland: 12,800 10,000 3,100 2,200 2,700 2,900 consumption net factor income from abroad 200 interest payments capital consumption allowance government spending on goods and services 2,400 2,900 3,200 wages investment exports imports profits rental payments 700

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

4. Suppose that you are given the following data for the country of Trumpland:
consumption
net factor income from abroad
12,800
10,000
3,100
2,200
2,700
2,900
200
interest payments
capital consumption allowance
government spending on goods
and services
2,400
2,900
3,200
wages
investment
exports
imports
profits
rental payments
700
From the data provided, find
a. GDP using the expenditure approach.
b. GNP and NNP.
c. NI using the income approach.
d. statistical discrepancy.
e. GDP using the income approach.
(HINT: TrumRland is similar to the US economy for 2016, in billions of dollars.)

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