7. The following is information from the national income accounts for Ensperanza Island, a country on the Zambezi Ocean. Figure 1.1 Ensperanza Island GDP к 000 Gross Investment K800 Net Investment к200 Consumption К4000 Government Purchases of goods and services K1100 Government Budget surplus K30 Use the information in figure 1.1 to answer the following question. Calculate: (i) NDP (ii) Net Exports (iii) Government taxes minus transfers? (iv) Disposable personal income?

7. The following is information from the national income accounts for Ensperanza Island, a country on the Zambezi Ocean. Figure 1.1 Ensperanza Island GDP к 000 Gross Investment K800 Net Investment к200 Consumption К4000 Government Purchases of goods and services K1100 Government Budget surplus K30 Use the information in figure 1.1 to answer the following question. Calculate: (i) NDP (ii) Net Exports (iii) Government taxes minus transfers? (iv) Disposable personal income?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Real GDP (dollars) 3,000 4,000 5,000 6,000 7,000 8,000 Consumption expenditure (dollars) 2,500 3,250 4,000 4,750 5,500 6,250 Investment (dollars) 500 500 500 500 500 500 Government expenditure (dollars) 500 500 500 500 500 500 In the above table, there are no taxes and no imports or exports The equilibrium level of expenditure for this economy is OA. no level because consumption expenditure is always less than real GDP B. $3,000 C. any level because investment always equals government expenditures OD. $5,000 www
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