Given the following macroeconomic information to answer the next question: Private Consumption spending 800 Interest paid on capital 100 Imports 200 Gross Investment spending 600 Factors income paid to abroad 120 Exports 110 Government spending 550 Depreciation 50 Government tax revenue 200 Factors income received from abroad 80 Calculate the following values: 1- GDP = 2- GNP = 3- Internal Balance = 4- Net factors income from abroad =

Given the following macroeconomic information to answer the next question: Private Consumption spending 800 Interest paid on capital 100 Imports 200 Gross Investment spending 600 Factors income paid to abroad 120 Exports 110 Government spending 550 Depreciation 50 Government tax revenue 200 Factors income received from abroad 80 Calculate the following values: 1- GDP = 2- GNP = 3- Internal Balance = 4- Net factors income from abroad =

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter5: Gross Domestic Product

Section: Chapter Questions

Problem 9SQ

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For the following question , please indicate whether current GDP of the United States will be affected and, if so, by how much .In each case, indicate also which component(s) of GDP will be affected and by how much This month, a manufacturer in colorado sells $60,000 worth of t-shirts to a distributor in New York City, who sells them to the public. Then the New York distributor buys corporate bonds for a value of $10,,000, which promise to return $9400 one year from now.
The following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars. Billions of Dollars Gross private domestic investment $2,200 Depreciation $1,887 Exports $2,820 Imports $300 Government purchases of goods and services $4,421 Personal consumption expenditures $6,200 Indirect business taxes and misc. items $1,241 Income received from other countries $1,018 Income paid to other countries $922 Compensation of employees (wages) $8,074 Corporate profits $1,795 Rental income $265 Net interest $803 Proprietors' income $1,243
Use the following table to answer the question below for an economy that has no government, no international trade or any association with other countries: Consumption (billions) Level of Output (billions) $240 $260 $280 $300 $320 $340 $360 $340 $380 $356 $400 $372 If gross investment is $4 billion, the equilibrium level of GDP (output) will be: a) $340 b) $280 Oc) $260 $244 $260 $276 $292 $308 $324 d) $360
Use the information in the table to answer the following questions. All numbers are in billions of 2012 dollars. Real GDP (Y) Consumption (C) Planned Investment (I) Government Purchases (G) Net Exports (NX) $15,000 $11,750 $1,500 $3,000 -$500 $16,000 $12,500 $1,500 $3,000 -$500 $17,000 $13,250 $1,500 $3,000 -$500 $18,000 $14,000 $1,500 $3,000 -$500 $19,000 $14,750 $1,500 $3,000 -$500 The equilibrium level of GDP is $ 18,000 billion. The MPC is (enter your response to two decimal places).
The following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars. Billions of Dollars Gross private domestic investment $2,300 Depreciation $1,987 Exports $3,120 Imports $200 Government purchases of goods and services $4,521 Personal consumption expenditures $6,300 Indirect business taxes and misc. items $1,341 Income received from other countries $1,118 Income paid to other countries $1,022 Compensation of employees (wages) $8,174 Corporate profits $1,895 Rental income $365 Net interest $903 Proprietors’ income $1,343 If you calculate GDP by adding together the final demands of consumers, business firms, the government, and foreigners (i.e., using the expenditure approach), GDP for this economy is billion. Given this information, the statistical discrepancy between national income and net national product, obtained when GDP is measured using the expenditure approach, is billion.
Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category Amount (in billions) Wages and Salaries 1000 Consumption 1700 Investment 700 Depreciation 50 Government Expenditure 100 Taxes 300 Exports 50 Imports 40 Income receipts from rest of the world 10 Income payment to rest of the world 50 What are net exports for China? Suppose that GDP in Japan is 1030 and then grows to 1160 (all numbers in billions) What is the growth rate of GDP in Japan?
Q3 In a simple macroeconomic model, the value of national income Y may be found by solving the system: G= 250 (government expenditure) T= 50 (taxation) I= 100 (planned investment) C = 0.75Yd + 150 (consumption) where disposable income Yd = Y – T. (a) Calculate the equilibrium level of national income. (b) Calculate the total increase in government expenditure and investment needed to increase the equilibrium level of national income by 20.
1. Answer the following: A) In 2011 the United States economy had a GDP of $14,991 billion according to the United Nations. If consumption was $10,729 billion, government spending was $2,594 billion, and net exports was -$568 billion, how much was investment spending? B) In 2011 the United States economy had a GDI (Gross Domestic Income) of approximately $13,548 billion according to the Bureau of Economic Analysis. If wages were $8,340 billion, interest payments were $516 billion, and rent was $430 billion, approximately how much was remaining for profit?
Refer to the data for 2019 below to answer the following questions: The Equivalence of Expenditure and Income (in Billions of Dollars) Expenditure C: Consumer goods and services 1: Investment in plants, equipment, and inventory G: Government goods and services X: Exports M: Imports GDP: Total value of output % b. Corporate profits? % ▬ 1 $14,561 Q Search 3,744 3,754 2,504 Instructions: Enter your responses as a percentage rounded to one decimal place. What share of U.S. total income in 2019 consisted of a. Wages and salaries? (3,136) $21,427 Wages and salaries Corporate profits Proprietors' income AD i $11,434 2,075 1,658 778 645 1,494 3,463 (120) $21,427 O
Consider the following hypothetical data for the U.S. economy in 2018 (all amounts are in trillions of dollars; see pages 179–182).Consumption 11.0 Indirect business taxes .8 Depreciation 1.3 Government spending 3.8 Imports 2.7 Gross private domestic investment 4.0 Exports 2.5e. Based on the data, what is GDP? NDP? NI?f. Suppose that in 2019, exports fall to $2.3 trillion, imports rise to $2.85 trillion, and gross private domestic investment falls to $3.25 trillion. What will GDP be in 2019, assuming that other values do not change between 2018 and 2019?
For this problem, assume exports equal zero and that firms did not purchase any plant or equipment in the years specified. Suppose in the year 2015, firms in this this country produced 4,000 million widgets, all of which they planned on selling. (In other words, firms were not planning on any changes to their inventories.) Of those 4,000 million widgets, households purchased 3,000 million, and government purchased 750 million. In 2015, what was the relationship between actual expenditures and the amount of output (widgets) produced? All else equal, what will firms likely do in the following year?
The income and expenditure approaches to measuring a nation’s GDP can be combined using the circular flow model. Categorize each flow in the following table as part of either aggregate demand or national income. While national income and domestic product must be equal, income must also equal expenditure for each of the six sectors in the circular flow diagram: firms, consumers, government, financial system, investors, and the “rest of the world.” For example, the amount of __________(options for blank: disposable income, investment spending, saving, taxes) flowing into the financial system sector must equal the amount of ____________ (saving, consumpti0on plus savings, transfers plus government purchases, investment spending).