Expenditure (in thousands) Component Social Security payments $290 Depreciation $60 Gross private investment $740 Exports $210 Imports $350 Salaries earned by foreigners working in Magnolia $170 Household consumption $940 Purchases of raw materials $310 Government purchases $720 Capital income $240 Salaries earned by Magnolian residents working abroad $210 Using the expenditure method, the data show that Magnolia's GDP (in thousands) is $ 2260 . (Enter your response as an integer.) The value of Magnolia's GNP (in thousands) is $ - (Enter your response as an integer.)

Expenditure (in thousands) Component Social Security payments $290 Depreciation $60 Gross private investment $740 Exports $210 Imports $350 Salaries earned by foreigners working in Magnolia $170 Household consumption $940 Purchases of raw materials $310 Government purchases $720 Capital income $240 Salaries earned by Magnolian residents working abroad $210 Using the expenditure method, the data show that Magnolia's GDP (in thousands) is $ 2260 . (Enter your response as an integer.) The value of Magnolia's GNP (in thousands) is $ - (Enter your response as an integer.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

A simple economy produces two goods, Apple Pies and Software. Price and quantity data are as follows: In Year 2, nominal GDP is equal to: $ and real GDP is $ Production and Prices in Year 1 (Base year) Quantity 105 550 Product Apple Pies Software Price Per Unit Production and Prices in Year 2 Quantity 131.25 825.00 Product Apple Pies Software $2.00 $50.00 Price Per Unit (enter both responses rounded to the nearest penny). $3.00 $100.00
(The following national income data are in billions of dollars.) $25 Consumption of Fixed Capital Government Purchases 315 US Imports 260 45 247 249 475 5 Personal Taxes Transfer Payments US Exports Personal Consumption Expenditures Net Foreign Factor Income Gross Private Domestic Investment Taxes on Production and Imports Undistributed Corporate Profits Social Security Contributions Corporate Income Taxes Statistical Discrepancy Refer to the above data. Net domestic product equals: $1,076 billion $1,039 billion $1,044 billion $1,054 billion 300 245 60 240 65 40
gross private domestic investment $1593 personal taxes 1113 transfer payments 1683 taxes on production & imports 695 corporate income taxes 213 personal consumption expenditures 7304 consumption of fixed capital 1393 US Exports 1059 dividends 434 government purchases 1973 net foreign factor 10 undistributed corporate profit 290 sociual security contributions 748 US imports 1483 statistical discrepency 50 Refer to the accompanying national income data (in billions of dollars) CORPORATE PROFITS are equal to?
By letting the GDP (gross domestic product) be the dependent variable (y), and the year (2002 - 2021) be the independent variable (x), answer the following question: Based on the line graph of the two countries, comment on the significant features from the graphs (identify any unusual points, if any, and observe the trend line). Compare the results of the GDP in these two countries. (Pls refer to the table and line graph in the image attached below) GDP 1.2E+11 1E+11 8E+10 6E+10 4E+10 2E+10 0 4.5E+12 4E+12 3.5E+12 3E+12 2.5E+12 2E+12 1.5E+12 1E+12 5E+11 0 Ethiopia (GDP) 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Years Germany (GDP) 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Years
The following table shows the U.S. gross domestic product (GDP) G, in trillions of dollars, as a function of the year t. t = Year 2004 2010 2014 G = GDP(trillions of dollars) 11.87 14.66 17.42 (a) Explain in practical terms what G(2010) means. The expression G(2010) is the year when the U.S. gross domestic product had a value of 11.87 trillion dollars.The expression G(2010) is the gross domestic product in trillions of dollars, multiplied by 2010. The expression G(2010) is the average of G(2004) and G(2010).The expression G(2010) is the U.S. gross domestic product in trillions of dollars in the year 2010. Find G(2010).$ trillion(b) Use functional notation to express the gross domestic product in 2012, and estimate that value. (Round the estimated value to two decimal places.) G = $ trillion(c) What is the average yearly rate of change in G from 2010 to 2014? (Round your answer to two decimal places.)$ trillion(d) Use your answer from part (c) to…
a) What share of GDP was composed of consumption in 2013 and in 2020? Share of GDP composed of Consumption (2013)= [Consumption 2013/GDP 2013]*100 =(11496.2/16797.5)*100= 68.43% Share of GDP composed of consumption (2020)= [Consumption 2020/GDP 2020]*100 =(14143.3/20936)*100= 67.5% b) What share of GDP was composed of net exports in 2013 and in 2020? Share of GDP composed of Net Export (2013)= [Net Export 2013/GDP 2013]*100 =(2259.8-2757/16797.5)*100= -2.9% Share of GDP composed of Net Export (2020)= [Net Export 2020/GDP 2020]*100 =(2127.1-2772/20936)*100= -3.08% Based on your answers to above parts a and b, comment on how the total production in the U.S. using its scarce resources are distributed.
The table below contains data for country A for the year. Household purchases of durable goods Household purchases of nondurable goods Household purchases of services Household purchases of new housing Purchases of capital equipment Inventory changes Purchases of new structures Depreciation Salaries of government workers Government expenditures on public works Transfer payments Foreign purchases of domestically produced goods Domestic purchases of foreign goods What was country A's GDP? $1293 $1717 $301 $704 $310 $374 $611 $117 $1422 $553 $777 $88 $120
Determine if the following would be included (I) or excluded (E) from the calculation of GDP. (d) An increase in business inventories _______ (e) The income of a tax accountant working for a business _______ (f) Income received from interest on a corporate bond ________ (g) Business expenditures on pollution control equipment ______ (h) Dr. Jung grows tomatoes in his backyard for home consumption _______
Consider the following table: GDP Depreciation Corporate earnings Transfer Payments Personal Tax Payments National income (NI) equals $11800 billion. (Enter your response as an integer.) Personal income (PI) equals $ 11250 billion. (Enter your response as an integer.) Disposable personal income (DPI)equals $ billion. (Enter your response as an integer.) Billions of dollars $13,200 1,400 1,250 700 1,000
An economist, measuring GDP, first counted the value of aluminum created by an aluminum producer and then counted the value of a new car that an automaker sold that contains that aluminum. This characterizes: A) Depreciation B) Change in inventories C) Double Counting D) National income
Consider the following table Previous question GDP Depreciation Corporate earnings Transfer Payments Personal Tax Payments Billions of dollars $13,300 1,450 1,000 600 1,500 National income (NI) equals $ billion (Enter your response as an integer) Personal Income (Pl) equals $ billion (Enter your response as an integer) Disposable personal income (DPI)equals $billion (Enter your response as an integer)
Consider the following table: GDP Depreciation Corporate earnings Transfer Payments Personal Tax Payments National income (NI) equals $11800 billion. (Enter your response as an integer.) Personal income (PI) equals $ billion. (Enter your response as an integer.) Billions of dollars $13,200 1,400 1,250 700 1,000