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a. What is the value of exports? billion %24

a. What is the value of exports? billion %24

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The table below shows the values for several different components of GDP. Billions of Category Dollars Personal consumption expenditures Net foreign factor income $266 Transfer payments 15 Rents 12 Consumption of fixed capital (depreciation) Statistical discrepancy 23 8 Social Security contributions 20 Interest 10 Proprietor's income Net exports 23 12 Dividends 16 Compensation of employees 263 Taxes on production and imports Undistributed corporate profits 11 Personal taxes 16 Corporate income taxes Corporate profits Government purchases Net private domestic investment Personal saving 9 46 61 26 10 Imports 5 Instructions: Enter your answers as whole number. a. What is the value of exports? $ billion b. What is the value of national income? $ |billion c. What is the GDP? 2$ billion d. What is the value of personal income? billion %24
Transcribed Image Text:The table below shows the values for several different components of GDP. Billions of Category Dollars Personal consumption expenditures Net foreign factor income $266 Transfer payments 15 Rents 12 Consumption of fixed capital (depreciation) Statistical discrepancy 23 8 Social Security contributions 20 Interest 10 Proprietor's income Net exports 23 12 Dividends 16 Compensation of employees 263 Taxes on production and imports Undistributed corporate profits 11 Personal taxes 16 Corporate income taxes Corporate profits Government purchases Net private domestic investment Personal saving 9 46 61 26 10 Imports 5 Instructions: Enter your answers as whole number. a. What is the value of exports? $ billion b. What is the value of national income? $ |billion c. What is the GDP? 2$ billion d. What is the value of personal income? billion %24
The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP. Indicate in each calculation whether you are inflating or deflating the nominal GDP data. Instructions: Enter your responses in the gray-shaded cells. Round your answers to 2 decimal places. Nominal GDP, Billions Price Index Year Real GDP, Billions Effect on Nominal GDP (2005 = 100) 1978 $2,308.80 40.4 1988 5,115.40 66.98 1998 8,808.50 85.51 2008 14,456.40 108.48 2018 20,519.30 128.59
Transcribed Image Text:The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP. Indicate in each calculation whether you are inflating or deflating the nominal GDP data. Instructions: Enter your responses in the gray-shaded cells. Round your answers to 2 decimal places. Nominal GDP, Billions Price Index Year Real GDP, Billions Effect on Nominal GDP (2005 = 100) 1978 $2,308.80 40.4 1988 5,115.40 66.98 1998 8,808.50 85.51 2008 14,456.40 108.48 2018 20,519.30 128.59
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