Grossmania gave the following additional information on its national economyItemsBillions of dollarsConsumer Expenditure110Gross fixed capital formation30Exports50Imports30Government Purchases30Increasing Stock150Indirect taxes455Factor incomes going out of the country50Factor incomes coming into the country60Subsidy20Capital consumption30Proprietors Income40 Calculate the following for Grossmania:The Total Domestic ExpenditureThe Total Final ExpenditureGDP using the expenditure approachThe Net National Product factor cost

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Answered: Grossmania gave the following…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Grossmania gave the following additional information on its national economy

Items	Billions of dollars
Consumer Expenditure	110
Gross fixed capital formation	30
Exports	50
Imports	30
Government Purchases	30
Increasing Stock	150
Indirect taxes	455
Factor incomes going out of the country	50
Factor incomes coming into the country	60
Subsidy	20
Capital consumption	30
Proprietors Income	40

Calculate the following for Grossmania:

The Total Domestic Expenditure
The Total Final Expenditure
GDP using the expenditure approach
The Net National Product factor cost

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