The following table contains data for Chereaux for the year 2019.CategoryTable 24-1GDPIncome earned by citizens abroadIncome foreigners earn hereLosses from depreciationIndirect business taxesStatistical discrepancyRetained earningsCorporate income taxesSocial insurance contributionsInterest paid to households bygovernmentTransfer payments to households fromgovernmentPersonal taxesNontax payments to governmentRefer to Table 24-1. Gross national product for Chereaux in 2019 isa. $186.b. $214.c. $204.In Billions ofDollars$200$9$5$6$10$0$8$12$30$8$55$60$11

Gross national product refers to the total value of all goods and services produced by the citizen…

b. $214. c. $204. The following table contains data for Chereaux for the year 2019. Category Table 24-1 GDP Income earned by citizens abroad Income foreigners earn here Losses from depreciation Indirect business taxes Statistical discrepancy Retained earnings Corporate income taxes Refer to Table 24-1. Gross national product for Chereaux in 2019 is a. $186. Social insurance contributions Interest paid to households by government Transfer payments to households from government Personal taxes Nontax payments to government In Billions of Dollars $200 $9 $5 $6 $10 $0 $8 $12 $30 $8 $55 $60 $11

b. $214. c. $204. The following table contains data for Chereaux for the year 2019. Category Table 24-1 GDP Income earned by citizens abroad Income foreigners earn here Losses from depreciation Indirect business taxes Statistical discrepancy Retained earnings Corporate income taxes Refer to Table 24-1. Gross national product for Chereaux in 2019 is a. $186. Social insurance contributions Interest paid to households by government Transfer payments to households from government Personal taxes Nontax payments to government In Billions of Dollars $200 $9 $5 $6 $10 $0 $8 $12 $30 $8 $55 $60 $11

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: Goods imports 635 Goods exports 419 Services imports 144 Services exports…

Q: None

A: NNP=GNP−DepreciationGNP=Consumption+ Gross Investment+ Government Expenditure+(Exports−Imports)+ Net…

Q: 2) Now suppose the prices change to q= (91, 92) = (2,1). Again, obtain the optimal choices for A and…

A: If a decision leads to a known or anticipated outcome that is at least as good as all of the other…

Q: The following national income data are available for a country. All data are in billion dollars.…

A: Economic growth refers to the increase in the value of output or income in a country over a certain…

Q: goods and services Depreciation 200 Gross private domestic 100 investment Indirect taxes 600…

A: It is a measure of a country's economic activity.It indicates the total worth of all services and…

Q: Newspapers Sold to Government Sold to Consumers Imported Ink Import taxes Paper Wages 21 73 11 2 21…

A: Generally, these terms can be defined as follows in an economic context:Consumption: Typically…

Q: Foreign purchases of domestically produced goods $88 Domestic purchases of foreign goods S120 Based…

A: Here we calculate the value of GDP and its components by using the given information so the…

Q: Gross Private Domestic Investment Exports of the United States Disposable Income Personal Saving…

A: GDP is the gross domestic product.GDP is defined as the market value of all the final goods and…

Q: In the table below, you are given data for the country of Sequoia. Exports Consumption Gross…

A: GDP is also known as gross domestic product which is the sum total of values of all finafinal goods…

Q: Do not use satgpt

A: Step 1: GDP Computation $ in BillionsPersonal consumption expenditures 219.1Gross private…

Q: Personal Consumption Expenditures $ 400 Government Purchases 128 Gross Private Domestic Investment…

A: The National Money is the total amount of income earned by a country from economic activity over the…

Q: Category Consumption (personal consumption expenditures) Investment (gross private domestic…

A: Gross domestic product is the final combination of goods and services in a country. GDP is an…

Q: On the basis of Table 5.3, the value of the income aggregate that is defined as "income received by…

A: The primary purpose of national income is to count the economic activity of the country as a means…

Q: Which of the following are assumed to be independent of the level of national income: (a)…

A: National income refers to the total income earned by the people of an economy in a particular period…

Q: Personal Taxes $ 55 Social Security Contributions Taxes on Production and Imports Corporate Income…

A: Net Domestic product is the economic output of a country indicating its economic growth. It is a…

Q: GDP tends to overstate economic welfare, because it does not include certain nonmarket activities…

A: GDP is defined as the total production of all goods and services within territory of the country in…

Q: Over the year, the country's workers earned 50 in wages. Further, five came in net labor and capital…

A: There are three methods to evaluate the national income. It is the sum of income generated by the…

Q: Newspapers Sold to Government Sold to Consumers Imported Ink Import taxes Paper Wages Depreciation…

A: Macroeconomics studies the behavior of the whole economy. The factors examined in this scenario are…

Q: 14. Country A has a GDP of $400,000, and country B has a GDP of $100,000. The standard of living in…

A: GDP is the value of all final goods and services in the economy in a given year produced within the…

Question

The following table contains data for Chereaux for the year 2019.
Category
Table 24-1
GDP
Income earned by citizens abroad
Income foreigners earn here
Losses from depreciation
Indirect business taxes
Statistical discrepancy
Retained earnings
Corporate income taxes
Social insurance contributions
Interest paid to households by
government
Transfer payments to households from
government
Personal taxes
Nontax payments to government
Refer to Table 24-1. Gross national product for Chereaux in 2019 is
a. $186.
b. $214.
c. $204.
In Billions of
Dollars
$200
$9
$5
$6
$10
$0
$8
$12
$30
$8
$55
$60
$11

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Define gross national product

VIEW

Step 2: Determine Gross national product for Chereaux in 2019

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

a.) From the following data, calculate national income by income method Items (Units of m) Compensation of employees 800 Mixed income of self-employed 900 Net factor income from abroad - 50 Rent 350 Profit 600 Consumption of fixed capital 200 Net indirect taxes 250 Interest 450 Operating Surplus 1400 b.) From the following data, calculate national income by expenditure method. Items (000) Compensation of employees 1,200 Net factor income from - 20 Net indirect taxes…
Personal Taxes Net Private Domestic Investment Net Exports National Income U.S. Exports Gross Private Domestic Investment Disposable Income Taxes on Production and Imports Undistributed Corporate Profits Proprietors' Income Net Foreign Factor Income Statistical Discrepancy Multiple Choice Refer to the accompanying national income data. All figures are in billions of dollars. The gross domestic product is O C о $328. $382. $333. $23 33 6 278 20 56 220 32 15 45 0 $301. 0
Economics Over the past decade, holiday gift cards have become increasingly popular at online retailers. Not long ago, online shoppers had to really hunt at most e-retailer' sites to purchase a gift card, but today it is easier to purchase gift cards online than at traditional retail outlets. Provide a comprehensive initial post answering the following questions: Do you think online gift cards are merely a fad? Explain carefully.
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?
Personal Consumption Expenditures Government Purchases Gross Private Domestic Investment Net Exports Net Foreign Factor Income Consumption of Fixed Capital Taxes on Production and Imports Compensation of Employees Rents Interest Proprietors Income Corporate Income Taxes Dividends Undistributed Corporate Profits Statistical Discrepancy Refer to the accompanying national income Multiple Choce $520 SEZE $400 128 7 .. 43 369 12 BARBERT 15 52 24 22 figures are in billions of dollars. Net domestico
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.
GDP Table Transfer payments Government purchases 32 160 Personal taxes 76 Corporate Income taxes Taxes on production and imports 56 30 Social secunity contributions 16 Undistributed corporate profits Proprietors income 38 50 Compensation of employees Personal consumption expenditures Consumption of fived capital 516 644 Rents 66 Exports 28 Corporate profits 140 nterest 64 Dividends 46 Imports Gross private domestic investment Net foreign factor income eamed Statistical discrepancy 34 126 20 70 Refer to the above data. PI is: Oa. $702. Ob. Sy28. Oe S758. od. Sy26.
Jamaica's Gross National Product would be increased by: a. Outflows of net property income b. Imports of goods and services c. Profits earned in a Jamaican-owned factory in another country overseas d. Taxes on domestic expenditure
Net Foreign Factor Income Corporate Profits Gross Private Domestic Investment Proprietors' Income Dividends Consumption of Fixed Capital Social Security Contributions US Exports Government Purchases Personal Consumption Expenditures Transfer Payments Imports of the US Personal Taxes Corporate Income Taxes Taxes on Production and Imports Interest $8 47 73 $372 billion. $317 billion. 46 13 41 10 23 97 314 27 24 46 23 50 16 Undistributed Corporate Profits Statistical Discrepancy 66 Refer to the accompanying national income statistics (in billions of dollars). Personal income is Multiple Choice $483 billion. $376 billion. 11
1. Based on this table, the Gross Domestic Product is $_______ billion.
Component Value ($bil) Component Value (Sbil) Consumption 680 Government outlays 300 Business Fixed Investment 90 Government purchases 220 Residential Investment 40 Labor income 520 Inventory stock, 12/31/22 160 Capital income 260 Inventory stock, 12/31/23 150 Net income of foreigners 40 Imports 140 Taxes, subsidies, and transfers 120 Exports 120 Depreciation 70 For each of the following calculations, show your work! a) Compute net exports (X) and investment (1) for this country. b) Use the spending approach to compute GDP (Y) for this country. c) Use the equation Y-C-G to compute national saving (S) for this country. How does it relate to your answer to part a? d) Briefly discuss how this country's spending components, as proportions of GDP , compare with the US in a recent year. e) Use the income approach to compute GDP for this country. Given your answer to part b, what is the size of the statistical discrepancy?
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