SavedRefer to the accompanying national income data (in billions of dollars). Gross domestic product isMultiple Choice$1,049 billion.$1,090 billion.$1,101 billion.$1,079 billion.Next >...< Prev26 of 46 SaConsumption of Fixed Capital$25Government Purchases315US imports260Personal Taxes45Transfer Payments247US Exports249Personal Consumption Expenditures475Net Foreign Factor IncomeGross Private Domestic Investment300Taxes on Production and Imports24560Undistributed Corporate Profits240Social Security Contributions65Corporate Income TaxesStatistical Discrepancy40Refer to the accompanying national income data (in billions of dollars). Gross

1090-11=1079 11-net exports(X-M) C+I+G 475+300+315=1090 GDP=1079 billion.

efer to the accompanying national income data (in billions of dollars). Gross domestic product is Multiple Choice $1,049 billion. $1,090 billion. $1,101 billion. $1,079 billion. Next > < Prev 26 of 46

efer to the accompanying national income data (in billions of dollars). Gross domestic product is Multiple Choice $1,049 billion. $1,090 billion. $1,101 billion. $1,079 billion. Next > < Prev 26 of 46

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter17: Production And Growth

Section: Chapter Questions

Problem 5CQQ

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Question

Saved
Refer to the accompanying national income data (in billions of dollars). Gross domestic product is
Multiple Choice
$1,049 billion.
$1,090 billion.
$1,101 billion.
$1,079 billion.
Next >
...
< Prev
26 of 46

Sa
Consumption of Fixed Capital
$25
Government Purchases
315
US imports
260
Personal Taxes
45
Transfer Payments
247
US Exports
249
Personal Consumption Expenditures
475
Net Foreign Factor Income
Gross Private Domestic Investment
300
Taxes on Production and Imports
245
60
Undistributed Corporate Profits
240
Social Security Contributions
65
Corporate Income Taxes
Statistical Discrepancy
40
Refer to the accompanying national income data (in billions of dollars). Gross

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Given the following income data, please answer the questions below: Real GDPConsumption IgGovernmentExportsImports$ 80000$120000$7000 $18000$6000$11000$160000$180000$7000 $18000$6000$ 11000$240000$240000$7000 $18000$6000$11000$320000$300000$7000 $18000$6000$11000$400000$360000$ 7000 $18000$6000$11000 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 $40000 so they are now equal to $51000. solve for net exports again.e. With this new export value, solve for aggregate expenditures in each row.f. State the value for the new equilibrium GDP.g. Solve for the multiplier (you can solve for either the actual or simple multiplier).
Assume there are only two producing sector Y & Z in an economy. Calculatea) Gross value added at market price by each sector b) National income from the followings:Items Amount in CroresNet factor income from abroad- 20Sales by Y= 1000Sales by Z= 2000Change in stock of Z= -200C Closingstock of Y= 50 Opening stock of Y= 100Consumption of fixed capital by Y & Z= 180Indirect taxes paid by Y & Z= 120Purchase of raw material by Y= 500Purchase of raw material by Z= 600Exports by Z= 70
Find the national income
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The Canadian economy produces a vast array of goods and services, from cars to cannabis Suppose that the hypothetical data for Canada has the folowing national income account data in billions of dollars: govermment purchases (SLOSO personal consumption expenditures (S4800 impors ($370 exports (524OE gross inventment (SL3O) Personal consumption expenditures are approximately what percentage of this economy? Mutple Choic O 70 percent O 60 percant O s percere 75 percent
The table below shows the data for the country of Magnolia. Complete the national income accounting framework by filling in the missing data. Remember to enter a minus (-) sign to indicate negative values. Expenditures Consumption Gross investment Government spending Net exports Gross domestic product at market prices 100 Less depreciation Less indirect taxes (net of subsidies) Net domestic product at basic prices +/- net foreign factor income Net national product at basic prices 320 350 30 260 50 160 70 1100 220 100 -10 780 320 06 160 130