Define net exports and net foreign factor income. What the the difference? How would net foreign factor income affect the national income compared to GDP?

Q: What is the relative importance of Net Export (NX) (Net Export = spending on exports (X) - imports…

A: Net exports show the demand for foreign products, as well as foreign demand for domestic goods. It…

Q: What government agency compiles the U.S. NIPA tables? In what U.S. department is it located? Of the…

A: NIPA refers to national income and products account is part of the national account of the US. It…

Q: Personal Consumption Expenditures $400 Government Purchases 128 Gross Private Domestic Investment 88…

A: Formula:  National income = Personal Consumption Expenditure + Government purchase + Gross Private…

Q: Why do we calculate national income?

A: National income is the value of final goods and services produced in an economy during a given…

Q: Use the following table to answer the next question. The following national income data for an…

A: Gross Domestic Product is a total measure of economic productivity. It is an economic measure to…

Q: Is it reasonable or does it make sense, that while US exports are added to GDP, US imports are…

A: The question is asking about the logic behind the treatment of exports and imports in the…

Q: Calculate net exports if it's given that exports is $350 million and imports is $100 million

A: We need to calculate the value of net exports with given information:- Exports in the economy = $350…

Q: What is the effect that changes in business taxes, personal income, and transfer payments have on a…

A: GDP is the measure of the total value of services and goods produced within an economy during a…

Q: What is real national income?

A: National Income: It is the total market value of all the final goods and services produced in the…

Q: Is the underground economy included in GDP?

A: Underground economy or shadow economy is the economy working under the government system that is not…

Q: How national income can be measured in economics? Explain briefly:

A:

Q: Write an essay Explaining concisely whether the following statement is true or false: “The GDP of a…

A: GDP is the sum total of market value of final goods and services produced in a country during a…

Q: What distinguishes national income, GNP, and NNP

A: The total factor incomes earned and received inside the domestic economy's territory make up the…

Q: Investment Capital consumption allowance (depreciation) Exports Imports Government purchases…

A: National Income : the total income from current output of a nation, which includes interest, rental…

Q: When calculating GDP from the income side, which of the following is included in non-factor…

A: This can be defined as a concept that shows the total production of products and services in an…

Q: In an economy,  Exports = $2100 million Imports = $1750 million Calculate net exports

A: Exports are goods and services delivered from one country to another. Imports are goods and services…

Q: Which of these will be a part of the gross domestic product? a. Income from this year’s final output…

A: The gross domestic product is the addition of the goods and services produced in the country is…

Q: If national income (output) is $8.5 Trillion, Consumption is $6 Trillion, Exports are $1 Trillion,…

A: National Income or output is "the market value of all the goods and services produced within the…

Q: Why are imports subtracted when GDP is calculated in the expenditure approach

A: The gross domestic product (GDP) is the sum of the market values of all finished goods and services…

Q: For each of the following say where they will show up in GDP calculations (i.e. under C, I, G,…

A: The Gross Domestic product is the summation of the money value of all the final goods and services…

Q: If net exports is $700 million and imports is $230 million Calculate Exports

A: The data presented in the question above is :- Net exports = $700 million Imports = $230 million…

Q: What is the formula for the NET DOMESTIC PRODUCT In the economic HELP

A: In an economy, domestic product refers to the total output generated or produced within the economic…

Q: What is national income (NI)? What does NI measure?

A: "The market value of goods and services produced within an economy, in an specified period of time"…

Q: What is the formula for income and expenditure approach of GDP?

A: The market value of all final goods and services produced in the economic territory of the country…

Q: The table below shows the values for several different components of GDP. Billions of Dollars $ 250…

A: The table containing the information about various components of GDP are given below.…

Q: For each of the following say where they will show up in GDP calculations (i.e. under C, I, G,…

A: Gross domestic product (GDP): - GDP is the market value of all final goods and services produced in…

Q: Find the value of exports if net exports is $310 million and imports are $130 million

A: The information being given to us is:- Net exports = $310 million Imports = $130 million We have to…

Q: How will you differentiate nominal GDP from real GDP?  Which one (nominal or real) do you consider…

A: Every country focuses on its economic growth. Each country runs on its production, investment, and…

Q: Which of the following components is NOT included in the calcula GDP using the expenditures…

A: GDP measures the total value of goods and services purchased in an economy during a specific period…

Q: What is called as the flow of the payments and the receipts for goods and the services and the…

A: The continual flow of products and services production, revenue, and expenditure in an economy is…

Q: Discuss what the shortcomings (limitations) of GDP as a measure of well-being and welfare of a…

A: GDP is the gross domestic product of any country which is the sum total of all the values of final…

Q: If exports are $390 and imports is $200 Calculate net exports

A: According to the question:- Exports = $390 Imports = $200 We have to calculate net exports

Q: When using the income approach to measure GDP, what calculation must be done to convert GDP at…

A: GDP refers to the production of goods and services during an accounting year. The depreciation is…

Q: Explain the shortfalls of analyzing GDP, by itself, to assess the state of the economy

A: Gross domestic product or GDP is considered to be a standard metric that is used to measure the…

Q: Define national income? Why do countries keep national income accounts? Distinguish between GDP…

A: National income is the value of final goods and services produced in an economy every year.