The following table contains data for Mindalion for the year 2019.GDPIncome earned by citizens abroadIncome foreigners earn hereLosses from depreciationIndirect business taxes$700$13$12$5$10$0Statistical discrepancyRetained earningsCorporate income taxesSocial insurance contributionsInterest paid to households by governmentTransfer payments to households from governmentPersonal taxes$8$12$30$8$55$60Nontax payments to government$1141. Refer to Table 23-1. Gross national product for Mindalion in 2019 isa. $696.b. $700.c. $701.d. $725.42. Refer to Table 23-1. Net national product for Mindalion in 2019 isma. $696.b. $700.c. $701.d. $699.

Gross national product for Mindalion in 2019 is Answer: c. $701 GNP is the addition of net income…

Answered: The following table contains data for…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Calculate the value added by a firm with the following:- Domestic sales of the firm = $4000 Exports by the firm = $1000 Purchase by the firm = $200
Dollar Amount Item Durable goods Nondurable goods Services Fixed investment Inventory investment Government purchases Exports (Billion Dollars) 220 400 700 130 20 500 110 Imports 150 Capital consumption allowance 20 Compensation of employees 700 Proprietors' income 480 Corporate profits Rental income Income earned from the rest of the world Income earned by the rest of the world 200 200 200 40 Indirect business taxes 80 Statistical discrepancy 30 Undistributed corporate profits 20 Social insurance taxes 80 Corporate profits taxes Transfer payments Personal taxes Net interest 30 50 80 20 Complete the following table by calculating GDP, NDP, national income, personal income, disposable income, and net exports. Item Dollar Amount (Billion Dollars) GDP NDP $ National income $ Personal income $ Disposable income Net exports If purchases of new capital goods are $90 billion, then purchases of new residential housing are equal to $ billion.
Gross domestic product is The monetary value of all final goods and services produced in a year The total value of all final goods and services that are meant for international trade The total value of all goods and services produced only by private companies in a year The monetary value of all final goods and services produced in a year adjusted to account for depreciation
To calculate GDP from the income side, one must add together wages, a) government income, interest, and profits. b) consumption and depreciation. c) interest, rent, depreciation, profits and indirect taxes net of subsidies. d) investment, rent, depreciation, profits and indirect taxes net of subsidies. e) net exports, depreciation, and profits.
If GDP is $200, income earned by foreign investments is a credit gain of $22, income paid to foreigners is a debit loss of $28, losses from derivatives are $6, and net transfers abroad is a debit loss of $10, calculate Gross National Product (GNP) a) $184 b) $178 c) $194 d) $140 e) $204
Find the value added by a firm given that:- Domestic sales by firm = $5500 Exports by firm = $2000 Purchase by firm = $3000
If National income is $1300 million, net factor income from abroad is $500 million Find the value of net domestic product at factor cost
Calculate the value of consumption of fixed capital National income = $4000 GDPMP = $5000 Net indirect tax = $300 Net factor income from abroad = $200 All values are in million
I got the answer 621, but that was wrong so I’m not real sure where I derailed.
Bonus Question: Based on the table below, calculate National income and then GDP using the income approach as per the table below: Description Billions of dollars Compensation of employees 800 Corporate profits 200 Statistical discrepancy 70 Rental Income 400 200 Depreciation 20 Profits of government enterprises 120 Proprietor's income
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?
Problem Using the following national income accounting data, calculate GDP in this country

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