5. The Planning Institute of Jamaica (PIOJ) collected the following data over a one-year period: $ Billions ITEMS Consumers expenditure Government Investment expenditure 135.5 49.6 Exports 70 Indirect Taxes 37.4 Net Property Income from abroad 25.6 Subsidies 5.2 Imports Transfer Payments 68.7 39 Dividend 22.5 Capital Consumption 17.8 Social Security contribution Undistributed corporate profits 14 21 2 Personal taxes 10.5 Government purchases 122.8 Value of increase in stock 6.7 Calculate ) GDP at market prices (i) GDP at factor cost (Gi) NDP at market price (1v) GINP at factor cost (V) NI at market price (v) NNP at factor cost (vu) PI (vu) DI

5. The Planning Institute of Jamaica (PIOJ) collected the following data over a one-year period: $ Billions ITEMS Consumers expenditure Government Investment expenditure 135.5 49.6 Exports 70 Indirect Taxes 37.4 Net Property Income from abroad 25.6 Subsidies 5.2 Imports Transfer Payments 68.7 39 Dividend 22.5 Capital Consumption 17.8 Social Security contribution Undistributed corporate profits 14 21 2 Personal taxes 10.5 Government purchases 122.8 Value of increase in stock 6.7 Calculate ) GDP at market prices (i) GDP at factor cost (Gi) NDP at market price (1v) GINP at factor cost (V) NI at market price (v) NNP at factor cost (vu) PI (vu) DI

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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?
2. Saving and investment in the national income accounts The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $1,800 million. Enter the amount for government purchases. National Income Account Value (Millions of dollars) Government Purchases (G�) Taxes minus Transfer Payments (T�) 585 Consumption (C�) 675 Investment (I�) 675 Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S)National Saving (�) = = G - TG - T = = I� million Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private SavingPrivate Saving = = = = million Public SavingPublic…
Consider the following table: GDP Depreciation Corporate earnings Transfer Payments Personal Tax Payments National income (NI) equals $ Personal income (PI) equals $ Disposable personal income (DPI)equals $ billion. (Enter your response as an integer.) billion. (Enter your response as an integer.) billion. (Enter your response as an integer.) Billions of dollars $13,300 1,500 1,250 600 1,000
Compute for GNP using Expenditure, Income, and Valued Added Approach. Personal Consumption Expenditures Rents, Interests, Dividends, Wages 1,100,000 950,000 Government Income 35,000 Indirect Taxes 130,000 Exports of goods and non-factor services Fixed Capital Formation Forestry 650,000 270,000 55,000 Government Services 120,000 Imports of goods and non-factor services Subsidies 640,000 5,000 Trade 280,000 Increase in Stocks Corporate Income Depreciation Allowance General Govemment Consumption Expenditures Net Factor Income from Abroad Agriculture 7,000 60,000 17,000 80,000 20,000 550,000 Real Estate 150,000
From Table 1.1.6 (Chained Dollars), what was GDP in the year 2000 (billions of dollars)?
Answer (iv) & (v) only.
6. Expenditures and Income Approaches Consumption Expenditures Wages Taxes on Production and Imports Government Purchases Statistical Discrepancy Imports Undistributed Corporate Profits Rent Proprietor's Exports Dividends Depreciation Income Interest Gross Private Domestic Investment Corporate Income Taxes Corporate Profits Net Foreign Factor Income $69000 $76000 $16000 $58000 $11000 $47000 $14000 $42000 $15000 $34000 $22000 $24000 $31000 $41000 $18000 $54000 $17000 Complete parts a and b. a. Given the numbers above, solve for Real GDP using the expenditures approach. Given the numbers above, solve for the National Income (NI). b.
Table 4.7.1 Inventory Investment $20 Net Exports -$100 Small Business Capital Consumption Household $65 Consumption Non-Profit Capital Spending $800 Government Capital Spending $30 $12 Government Net Operating Capital Consumption Government $35 $115 Surplus Non-Profit Consumption Business Capital Spending $200 Consumption Wages and Salaries $15 $400 $700 Corporate Capital Consumption Employers' Social Contributions Net Mixed Income $100 $150 Taxes Less Subsidies $130 $100 60) Refer to Table 4.7.1. What is GDP? Select one: a. 1054 b. 1236 c. 1386 d. 1452 e. 1501
gross private domestic investment $1593 personal taxes 1113 transfer payments 1683 taxes on production & imports 695 corporate income taxes 213 personal consumption expenditures 7304 consumption of fixed capital 1393 US Exports 1059 dividends 434 government purchases 1973 net foreign factor 10 undistributed corporate profit 290 sociual security contributions 748 US imports 1483 statistical discrepency 50 Refer to the accompanying national income data (in billions of dollars) CORPORATE PROFITS are equal to?
QUESTION 5 5. You are given the following information about an economy: $millions GDP at Market Prices 1,,669.4 290.5 Imports Gross Domestic Capital Formation Income accruing to the Public Sector Retained Business Earnings 48.7 39.0 75.9 273.4 Exports Subsidies 16.8 Factor Payments from Abroad Capital Consumption Allowance 10.0 10.5 19.2 Income Payments to Foreigners Direct Taxes Public Sector Consumption Expenditure Indirect Taxes Transfer Payments 355.6 490.1 297.3 25.7 Derive the following: (i) (ii) National Income Net Investment Personal Income Disposable Income Household Consumption Expenditure
Table 1 Federal Government receipts and expenditures and nominal GDP, billions of dollars. 1967 1978 1984 1999 2009 2018 Tax receipts 108 280 410 1175 1124 1956 Other receipts 38 144 302 732 1116 1542 Government purchases and subsidies 92 173 317 501 993 1121 Government transfer payments 52 234 397 986 2141 2846 Interest payments 22 79 194 352 355 541 Net government investment 9 5 25 -3 49 4 Nominal GDP 860 2,352 4,339 9,631 14,449 20,580 Source: Bureau of Economic Analysis Assume the table above represents all federal government revenues and expenditures. I need your help in the following question: -Refer to Table 1. Of the years included, when were tax receipts relative to GDP the greatest? and when were interest payments relative to GDP the greatest?
Based on the following table Private consumption expenditure (C) Gross private investment Expenditure (1) Government Expenditure (G) Exports (X) Imports (M) Net factor income from the rest of the world 5 Depreciation 150 Indirect Taxes 60 Subsidies 40 Transfer payments to households 10 35 Personal Income Taxes 30 Undistributed dividends 20 25 15. Find Disposable Income