Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category Amount (in billions) Wages and Salaries 1000 Consumption 1700 Investment 700 Depreciation 50 Government Expenditure 100 Taxes 300 Exports 50 Imports 40 Income receipts from rest of the world 10 Income payment to rest of the world 50 1. What are net exports for China? 2. Suppose that GDP in Japan is 1030 and then grows to 1160 (all numbers in billions) what is the growth rate of GDP in Japan?
Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category Amount (in billions) Wages and Salaries 1000 Consumption 1700 Investment 700 Depreciation 50 Government Expenditure 100 Taxes 300 Exports 50 Imports 40 Income receipts from rest of the world 10 Income payment to rest of the world 50 1. What are net exports for China? 2. Suppose that GDP in Japan is 1030 and then grows to 1160 (all numbers in billions) what is the growth rate of GDP in Japan?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Consider the following table showing the breakdown of GDP (in billions) for
China.
GDP Category Amount (in billions)
Wages and Salaries 1000
Consumption 1700
Investment 700
Depreciation 50
Government Expenditure 100
Taxes 300
Exports 50
Imports 40
Income receipts from rest
of the world
10
Income payment to rest of
the world
50
1. What are net exports for China?
2. Suppose that GDP in Japan is 1030 and then grows to 1160 (all numbers in
billions) what is the growth rate of GDP in Japan?
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