Exhibit 15-7 Personal consumption expenditures Interest Corporate profits Government spending Depreciation GDP data Rental income Gross private domestic investment Compensation of employees Exports Imports Indirect business taxes Proprietors' income Personal taxes Social Security taxes Transfer payments In Exhibit 15-7, personal income (PI) is: O a. $6,495 billion. O b. $7,082 billion. O c. $6,013 billion. d. $6,254 billion. Billions of dollars $5,207 425 735 1,406 830 146 1,116 4,426 870 965 553 520 886 432 376

Exhibit 15-7 Personal consumption expenditures Interest Corporate profits Government spending Depreciation GDP data Rental income Gross private domestic investment Compensation of employees Exports Imports Indirect business taxes Proprietors' income Personal taxes Social Security taxes Transfer payments In Exhibit 15-7, personal income (PI) is: O a. $6,495 billion. O b. $7,082 billion. O c. $6,013 billion. d. $6,254 billion. Billions of dollars $5,207 425 735 1,406 830 146 1,116 4,426 870 965 553 520 886 432 376

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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In the United States, from the most recent fiscal data we reviewed in class, total government spending is roughly 39% of GDP; yet, using the expenditure method for calculating GDP, government expenditures on goods and services were only 17% of GDP. Which of the following most likely explains the difference? Select one: O a. Transfer payments are included in the second figure, but not the first one. O b. Transfer payments are included in the first figure, but not the second one. O c. Military (i.e. defense) spending on goods and services is included in the second figure, but not the first one. O d. Military (i.e. defense) spending on goods and services is included in the first figure, but not the second one.
Table 1 All Numbers are in $ Billion Output Consumption (Income) Spending Net Taxes Investment Government Spending Spending 200 400 400 100 100 800 700 100 200 100 1,200 1,600 2,000 1,000 1,300 1,600 100 200 100 100 200 100 100 200 100 Refer to Tablel above. At an output level of $1,200 billion, the level of aggregate expenditure is Lütfen birini seçin: O A. $1,200 billion O B $1,400 billion O C. $1,300 billion O D. $1,100 billion O E $1,000 billion.
Quèstion 20 AD2 AD1 AD3 Real Domestic Product, GDP Refer to the graph. Which of the following changes will shift AD1 to AD2? O A. a cut in personal and business taxes. O B. a shrinkage in the value of stocks and other financial assets. O C. an increase in the value of the dollar relative to other currencies. O D. an increase in real interest rates. Price Level
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Question 7 I need an explanation
Suppose in the economy of Richlandia the GDP in 2021 was $ 150 billion. Also, assume that gross investments was $ 40 billion, personal consumption expenditure was $ 80 billion and net exports was -20 billion. What was the value of government spending in Richlandia in 2021? OA.$0 OB. $ 10 billion OC$ 50 billion OD.$ 30 billion
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