Given the following income data, please answer the questions below. Real GDP Consumption Ig Government Exports $5000 $12000 $5000 $12000 $5000 $12000 $5000 $12000 $5000 $12000 $100000 $116000 $140000 $148000 $180000 $180000 $220000 $212000 $260000 $244000 $7000 $7000 $7000 $7000 $7000 Imports $16000 $16000 $16000 $16000 $16000 a. Solve for net exports in each row. b. Solve for aggregate expenditures (AE) in each row. c. State the value for the equilibrium GDP. d. If imports were to increase by $16000 so they are now equal to $32000, solve for net exports again.

Given the following income data, please answer the questions below. Real GDP Consumption Ig Government Exports $5000 $12000 $5000 $12000 $5000 $12000 $5000 $12000 $5000 $12000 $100000 $116000 $140000 $148000 $180000 $180000 $220000 $212000 $260000 $244000 $7000 $7000 $7000 $7000 $7000 Imports $16000 $16000 $16000 $16000 $16000 a. Solve for net exports in each row. b. Solve for aggregate expenditures (AE) in each row. c. State the value for the equilibrium GDP. d. If imports were to increase by $16000 so they are now equal to $32000, solve for net exports again.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

This question has four parts. (its not a writing assignment, just asking for a numerical value or simple answer) 1.1. What is the US GDP for the first quarter and second quarter of 2020? What is the personal consumption expenditures for the first quarter and second quarter of 2020? Go to the website for the Bureau of Economic Analyses (BEA): https://www.bea.gov/ Section 1: Domestic Product and Income; Table 1.1.5 1.2. Use the information in Table 1 to analyze aggregate expenditures (AE) model below (Figure 1. Equilibrium in a Private Closed Economy). (table 1 and figure 1 are in the attachments) 1.3. Identify the mistake and explain why the graph of the aggregate expenditures line does not correctly illustrate the economy's equilibrium. 1.4. Create a graph for the aggregate expenditures (AE) model using the data from Table 1: A Private Closed Economy. Tips: Remember, the 45degree line (also known as the Keynesian Cross) is a tool that shows how differences in aggregate…
1.1. What is the US GDP for the first quarter and second quarter of 2020? What is the personal consumption expenditures for the first quarter and second quarter of 2020?
QUESTIONS Use the table below to answer the question, Price Level 130 120 110 100 Real GDP Polential GDP 59.000 $9.000 $9.000 $0,000 $9,000 240,000 $0 000 Real GDP Demanded $8.000 $9,000 $10.000 $11.000 $12.000 $13.000 $14,000 $14.000 $13.000 $12.000 $11.000 $10.000 $0.000 $8,000 80 70 The table above presents the aggregate demand (Real GDP Demanded), aggregate supply (Real GDP Supplied), and potential GDP schedule of Coruscant. The economy is at O a below-ful-employment equilibrium. Oan above-full-employment equilibrium. Oa full-employment equilibrium. O None of the above. The economy cannot be at equilibrium.
Paul, a US citizen, buys $500 worth of illegal drugs while on vacation in Amsterdam. Upon his return, he sells the illegal drugs to unsuspecting Americans for $5,000. Upon discovering this, Matt reports Paul to the FBI, which spends $10,000 to put Paul behind bars for sale of an illegal substance. What is the increase in US GDP resulting from these transactions? Group of answer choices $10,000 $15,000 $15,500 $10,500
QUESTION 3 Refer to the table (all figures in billions of dollars). The national income (NI) for this economy is #3 Items Amount (i) (1) Personal Taxes $40 (2) Social Security Contributions $15 (3) Taxes on Production and Imports $20 (4) Corporate Income Taxes $40 (5) Transfer Payments $22 (6) U.S. Exports $24 (7) Undistributed Corporate Profits $35 (8) Government Purchases $90 (9) Gross Private Domestic Investment $75 (10) U.S. Imports $22 (11) Personal Consumption Expenditures $250 (12) Consumption of Fixed Capital $25 (13) Net Foreign Factor Income $10 (14) Statistical Discrepancy $0 $314 $362 $382 O $402 O $417 O 0 0 0 0
TOTAL EXPENDITURE (Billions of dollars) 500 475 450 425 400 375 350 325 300 H 300 425 REAL GDP (Billions of dollars) 325 350 375 400 If Real GDP is $425 billion, inventories 450 475 I 500 (TP = Real GDP) TE the firms production, and Real GDP
The table given below reports the value of sales at each stage of production of an economics book.Table 5.1 The Production of an Economics Book Production Stage Sales Value Purchase of Timber $1.25 Processing of Timber into Paper $7.75 Printing $24.50 Retail Sales of Economics Book $38.00 Refer to Table 5.1. What is the contribution to GDP from the production of an economics book? Group of answer choices $71.50 $38 $7.75 $13.50 $24.50
Consider the following table: GDP Depreciation Corporate earnings Transfer Payments Personal Tax Payments National income (NI) equals $11800 billion. (Enter your response as an integer.) Personal income (PI) equals $ 11250 billion. (Enter your response as an integer.) Disposable personal income (DPI)equals $ billion. (Enter your response as an integer.) Billions of dollars $13,200 1,400 1,250 700 1,000
The "middle-income trap" usually takes place at about this level of GDP per capita: $1,000 pc $50,000 pc $4000–$5,000 pc $40,000 pc
Use the following table to answer the question below for an economy that has no government, no international trade or any association with other countries: Consumption (billions) Level of Output (billions) $240 $260 $280 $300 $320 $340 $360 $340 $380 $356 $400 $372 If gross investment is $4 billion, the equilibrium level of GDP (output) will be: a) $340 b) $280 Oc) $260 $244 $260 $276 $292 $308 $324 d) $360
#1
What is the GDP per capita of a country with a population of 50 million and a GDP of $1.5 trillion? A) $30,000 B) $15,000 C) $3,000 D) $1,500