Current AccountValueExports of goods107,941Exports of services44,133Primary income36,063receiptsImports of goods132,484Import of services29,443Primary income29,750paymentsNet unilateral-8,349transfersCapital account-63Net acquisition of20,972financial assetsNet incurrence ofliabilities54,471FinancialderivativesStatisticaldiscrepancyBased on the table above, the balance of goods isO -9,853O-24,543O 9,85394:542MacBook Air

Current Account Value Exports of goods 107,941 Exports of services 44,133 Primary income 36,063 receipts Imports of goods 132,484 Import of services 29,443 Primary income payments 29,750 Net unilateral transfers -8,349 Capital account -63 Net acquisition of 20,972 financial assets Net incurrence of liabilities 54,471 Financial derivatives Statistical discrepancy Based on the table above, the balance of goods is -9,853 O-24,543 O 9,853 04:542

Current Account Value Exports of goods 107,941 Exports of services 44,133 Primary income 36,063 receipts Imports of goods 132,484 Import of services 29,443 Primary income payments 29,750 Net unilateral transfers -8,349 Capital account -63 Net acquisition of 20,972 financial assets Net incurrence of liabilities 54,471 Financial derivatives Statistical discrepancy Based on the table above, the balance of goods is -9,853 O-24,543 O 9,853 04:542

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If the net national Product at market price is 320 billion and the net current transfer receipt from the rest of the world is 240 billion what would be the net national disposable income?
Current Account Value Exports of goods 107,941 Exports of services 44,133 Primary income receipts 36,063 Imports of goods 132,484 Import of services 29,443 Primary income payments 29,750 Net unilateral -8,349 transfers Capital account -63 Net acquisition of 20,972 financial assets Net incurrence of liabilities 54,471 Financial derivatives Statistical discrepancy Based on the table above, the balance on services is -9,853 -14,690 9,853 14,690
2
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)…
U.S. International Transactions Table 20XX ($ bill.) 1. Merchandise exports 2. Merchandise imports 3. Service exports 4. Service imports 5. Income receipts on U.S. assets abroad 20 -30 10 -5 10 6. Income payments on foreign assets in the U.S. -5 7. Government grant, private remittances 8. Change in U.S. private assets abroad, net -5 -10 9. Change in foreign private assets in the U.S., net 20 10. Statistical discrepancy ? 11. Change in U.S. Official Reserves, net -5 12. Change in Foreign Official Reserves, net 10 Use the above table to the question. The official reserve transactions balance is 10. 110 -10. 5. -5.
[The following scenario applies to the next two questions.] The national income accounts for 20XX are Income on Capital Owned by U.S. Residents but Located Abroad Labor Income of U.S. Residents Working Abroad Payments to Capital in the U.S. Owned by Foreigners Payment to Foreigners Working in the U.S. Depreciation of capital stock Corporate profits, taxes on production, business transfers, and net interest Personal transfer payments and personal income receipts on assets Personal taxes Disposable personal income is 389.41. The national accounts have no statistical discrepancies. Question 1.38: Net national product (NNP) What is net national product (national income)? A. 492.04 B. 586.87 C. 614.99 D. 709.82 E. 737.94 Question 1.39: Gross Domestic Product What is Gross Domestic Product? A. 433.79 B. 550.29 C. 556.74 D. 679.69 E. 796.19 91.90 99.57 70.74 62.48 122.95 191.34 177.28 211.52
Table 23-2 The table below contains data for the country of Crete for the year 2018. Total income Household purchases of durable goods Household purchases of nondurable goods Household purchases of non-education services Household purchases of education services Household purchases of new housing Purchases of capital equipment Inventory changes Purchases of new structures Depreciation Local government spending on goods and services State government spending on goods and services Federal government spending on goods and services Transfer payments Foreign purchases of domestically produced goods Domestic purchases of foreign goods 8. Refer to Table 23-2. What was Crete's GDP in 2018? a. $4623 b. $5731 c. $6037 d. $6839 $5731 $1108 $702 $203 $302 $816 $333 $75 $267 $401 $236 $419 $1182 $707 $217 $129 9. Refer to Table 23-2. What was Crete's consumption in 2018? a. $1810 b. $2013 c. $2315 d. $3131