a) Place the numbers below in the appropriate blanks in the figure above (billions of dollars) Personal Consumption Rents Interest Corporate Profits Gross Investment Government Purchases Wages Imports Exports Savings Depreciation. Taxes $2,582 14 287 297 669 815 2,347 178 100 2,082 582 500 (i) Net Exports (ii) Total Leakages (iii) Personal Income (iv) Personal Disposable Income

a) Place the numbers below in the appropriate blanks in the figure above (billions of dollars) Personal Consumption Rents Interest Corporate Profits Gross Investment Government Purchases Wages Imports Exports Savings Depreciation. Taxes $2,582 14 287 297 669 815 2,347 178 100 2,082 582 500 (i) Net Exports (ii) Total Leakages (iii) Personal Income (iv) Personal Disposable 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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Personal Taxes Social Security Contributions Rents Taxes on Production & Imports Corporate Income Taxes Interest Proprietors' In come Transfer Payments Dividends Compensation of Employees Exports Undistributed Corporate Profits Government Purchases Net Private Domestic Investment Imports Personal Consumption Expenditures Consumption of Fixed Capital (Capital Depreciation) Net Foreign Factor Income Corporate Profits Statistical Discrepancy $ Billions 35 15 28 31 20 31 26 52 43 16 320 45 36 55 35 25 395 45 10 83 -14 a. With the data above, clearly show your steps including the economic variables involved and calculate: 1. Gross Domestic Product (by any approach of your choice). Interpret your estimated GDP value. 2. National Income (by any approach of your choice). Interpret your estimated national income value. 3. Personal Income. Interpret your estimated personal income value.
QUESTION 3 Refer to the table (all figures in billions of dollars). The national income (NI) for this economy is #3 Items Amount (i) (1) Personal Taxes $40 (2) Social Security Contributions $15 (3) Taxes on Production and Imports $20 (4) Corporate Income Taxes $40 (5) Transfer Payments $22 (6) U.S. Exports $24 (7) Undistributed Corporate Profits $35 (8) Government Purchases $90 (9) Gross Private Domestic Investment $75 (10) U.S. Imports $22 (11) Personal Consumption Expenditures $250 (12) Consumption of Fixed Capital $25 (13) Net Foreign Factor Income $10 (14) Statistical Discrepancy $0 $314 $362 $382 O $402 O $417 O 0 0 0 0
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)…
In the table below, you are given data for the country of Sequoia. Exports Consumption Gross investment Depreciation 188 520 152 88 Government spending Imports Net foreign factor income Indirect taxes a. The value of GDP at market prices is $ b. The value of NDP at basic prices is $ c. The value of net national product at basic prices (i.e. national income) $ EST
What is the value for Gross Domestic Product if households receive $315 in net interest income, wages equal $10,169, rental receipts on land are $884, total business profits before taxes are $1,862, and indirect business taxes are $1,139? Assume depreciation and net foreign income are zero. Enter the value without a $ and without commas.
Consider the following table: GDP Depreciation Corporate earnings Transfer Payments Personal Tax Payments National income (NI) equals $11800 billion. (Enter your response as an integer.) Personal income (PI) equals $ 11250 billion. (Enter your response as an integer.) Disposable personal income (DPI)equals $ billion. (Enter your response as an integer.) Billions of dollars $13,200 1,400 1,250 700 1,000
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Excluding indirect business taxes and depreciation, Gross Domestic Income (GDI) Select one: a. never equals GDP. b. would equal GDP if there was no depreciation. c. is the sum of all income paid to the factors of production. d. cannot be computed.
Consider the following table Previous question GDP Depreciation Corporate earnings Transfer Payments Personal Tax Payments Billions of dollars $13,300 1,450 1,000 600 1,500 National income (NI) equals $ billion (Enter your response as an integer) Personal Income (Pl) equals $ billion (Enter your response as an integer) Disposable personal income (DPI)equals $billion (Enter your response as an integer)
QUESTION 2 NATIONAL INCOME DATA (in current prices) 1992 III Personal consumption expenditures Gross private domestic investment Government purchases of goods and services 02. Based on this table, the Net Domestic Product is $ Exports Imports Capital consumption allowance (depreciation) Source: Survey of Current Business, Vol. 72, Number 10, (October 1992), p. 8, 10 QUESTION 3 billion. NATIONAL INCOME DATA (in current prices) 1992 III Personal consumption expenditures Gross private domestic investment Government purchases of goods and services 03. Based on this table, the Net Exports figure is $ (in billions of dollars) 4,105.0 776.9 1,122.5 626.8 664.2 697.3 billion. (in billions of dollars) Exports Imports Capital consumption allowance (depreciation) Source: Survey of Current Business, Vol. 72, Number 10, (October 1992), p. 8, 10 4,105.0 776.9 1,122.5 626.8 664.2 697.3
Consider the following table: GDP Depreciation Corporate earnings Transfer Payments Personal Tax Payments National income (NI) equals $11800 billion. (Enter your response as an integer.) Personal income (PI) equals $ billion. (Enter your response as an integer.) Billions of dollars $13,200 1,400 1,250 700 1,000