Assume the following: Government purchases is $120 billion, Depreciation $40 billion, Consumption $400 billion, Business Investment $60 billion, Exports $100 billion, Imports $120 billion, Income receipts from rest of the world $10 billion, and Income payments to rest of the world $8 billion i. Required: a. What is the value of GDP? b. What is the value of net exports? c. What is the value of NNP?

Assume the following: Government purchases is $120 billion, Depreciation $40 billion, Consumption $400 billion, Business Investment $60 billion, Exports $100 billion, Imports $120 billion, Income receipts from rest of the world $10 billion, and Income payments to rest of the world $8 billion i. Required: a. What is the value of GDP? b. What is the value of net exports? c. What is the value of NNP?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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