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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Figure 32-1 percent 8 10 20 30 40 50 60 70 $billions Refer to Figure 32-1. In the Figure shown, if the real interest rate is 6 percent, the quantity of loanable funds demanded is O A. $20 billion, and the quantity supplied is $40 billion. O B. $20 billion, and the quantity supplied is $60 billion. O C. $60 billion, and the quantity supplied is $20 billion. O D. $60 billion, and the quantity supplied is $40 billion.
QUESTION 28 In year one, real GDP is $4,500 and in year two real GDP is $4,800. What was the growth rate of real GDP between years one and two? OA. -approximately 7% OB-6, 25% OC 93.75% OD. approximately 15% QUESTION 29 The agency responsible for compiling the National Income Product Accounts for the U.S. economy is the O A. Bureau of Econamic Analysis O B. National Bureau of Cconomic Research OC Bureau of Labor Statistics O D.Council of Economic Advisors QUESTION 30 Which of the following is an example of a final good or service? OA. Paint purchased by Ford, Inc. used to paint their new fleet of Mustangs. OB. Beef bought by a restaurant owner from a wholesale food distributor. OCA brand new economics text book purchased by a PGCC student. O Jet Fuel bought by Northwest Airlines to power its fleet of planes. QUESTION 31 Which of the following is true about real GDP? O A. IL is always equal to nominal GDP O B. IL increases only when price increases OCIL increases only when output…
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
Refer to Table 4, The value for GDP in billions of dollars is (CLOS # 3) Table 4 Compensation of employees (household) 223 Depreciation 27 Rents 14 Interest 13 Indirect Business Taxes 18 Corporate Profits Transfer payment 56 12 Net Foreign Factor Income 4 Proprietor's Income 33 Personal taxes 26 Corporate income taxes 19 Select one: O a. 376 O b. 386 O c. 384 O d. 377
QUESTION 36 What determines tax revenues? O a. The level of national income. O b. The income tax rate. O c. The money supply in the economy. O d. Both (a) and (b).
The expenditure approach measures GDP by adding together Select one: O A. wages, salaries and supplementary labour income, and other factor incomes. O B. the total expenditures of consumers, firms, net exporters, and by governments at all levels. O C. wages, salaries and supplementary labour income, other factor income, subsidies paid by the government, indirect taxes paid, and income of nonfarm unincorporated businesses. the total expenditures of consumers and firms. compensation of employees, rental income, corporate profits, net interest, proprietors' income, indirect taxes paid, and capital consumption expenditures, and by subtracting subsidies paid by the government. O D. O E.
c) The table below contains information about the national income data of a country. RM billion 40 Items Capital consumption Government purchases Subsidies Net exports Indirect taxes Gross private domestic investment Net factor income from abroad Personal consumption expenditures 1,450 70 - 280 160 2,200 - 340 3,100 Using the above table, calculate the Gross Domestic Product at market price (GDPMP), Gross National Product at market price (GNPMP), Gross National Product at factor cost (GNPFC), and national income.
Refer to the following table when answering the following questions. Table: U.S. 2015-2018 Domestic Income ($ billions) Compensation of employees, paid Wages and salaries Supplements to wages and salaries Business taxes Business subsidies Net operating surplus Private enterprises Surplus of government enterprises Show Transcribed Text Supplements to wages and salaries Business taxes Business subsidies 3 Net operating surplus Private enterprises Surplus of government enterprises Source: U.S. Bureau of Economic Analysis 2015 2018 O $13.850 O $9.704 O $31.518 O $18.480 9.264 9.704 7,487 7,866 1,777 1.838 1,210 1,238 57 4,489 4.575 4,509 4,593 -20 -19 1,777 1,838 1.210 1.238 57 57 4,489 4.575 4.509 4.593 Depreciation of fixed capital 2.745 2.831 57 -20 -19 From this data, total GDP in 2015 was about billion.
Table 7-3 (in $ billion) consumption $1,100.00 %3D inventory investment = $460.00 purchased of new capital goods = $560.00 government purchases = $300.00 %3D exports = $20.00 %3D imports $33.00 %D purchased of new residential housing = $58.00 %3D Refer to Table 7-3, GDP equals O $2,165.00 O $2,432.00 O $2,465.00 O $2,425.00
Item € (thousand) Mixed income 165 Government spending 136 Compensation of 1,735 employees Personal taxes 37 Gross investment 128 Indirect taxes 300 Corporate profits 194 Exports of goods and 249 services Imports of goods and 289 services Subsidies 41 Using the data in the above table, gross domestic product equals O €2,592. O €2,090. O €2,094. O €2,353.
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