"he following table gives data for a small country, Magnolia: Expenditure (in thousands) Component Social Security payments $280 Depreciation $50 Gross private investment $700 Exports $210 Imports $320 Salaries earned by foreigners working in Magnolia $200 Household consumption $850 Purchases of raw materials $300 Government purchases $690 Capital income $310 Salaries earned by Magnolian residents working abroad $210 Jsing the expenditure method, the data show that Magnolia's GDP (in thousands) is $ (Enter your response as an integer.) "he value of Magnolia's GNP (in thousands) is $ (Enter your response as an integer.) Magnolia's GDP differs from its GNP because the

"he following table gives data for a small country, Magnolia: Expenditure (in thousands) Component Social Security payments $280 Depreciation $50 Gross private investment $700 Exports $210 Imports $320 Salaries earned by foreigners working in Magnolia $200 Household consumption $850 Purchases of raw materials $300 Government purchases $690 Capital income $310 Salaries earned by Magnolian residents working abroad $210 Jsing the expenditure method, the data show that Magnolia's GDP (in thousands) is $ (Enter your response as an integer.) "he value of Magnolia's GNP (in thousands) is $ (Enter your response as an integer.) Magnolia's GDP differs from its GNP because the

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars. Billions of Dollars Gross private domestic investment 120 Depreciation 35 Exports 60 Imports 55 Government spending 130 Personal consumption expenditures 325 Indirect business taxes (net of subsidies) 20 Personal taxes 90 Employee compensation 380 Corporate profits and FICA contributions 80 Rental income 25 Net interest 35 Proprietors' income 5 Transfer payments and other income 65 Using the expenditure or income approach, GDP for this country was $ billion. Complete the following table by calculating national income, personal income, and disposable personal income for this country. (Note: Be sure to enter your figures in billions of dollars.) Billions of Dollars National Income Personal Income Disposable Personal Income
(Change the values to the chart below. Show all of your calculations including the Total GDP.) $3 per pound of food, 3 million pounds $60 per shirt,50,000 $90,000 per house,20 $140 per hour medical service, 50,000 hours $1,600,000 per plant,1 plant $300,000 per tank, 2 tanks Total GDP
Find the value added by a firm given that:- Domestic sales by firm = $5500 Exports by firm = $2000 Purchase by firm = $3000
C and D
The table gives data about Northland's economy in 2017. What is the value of GDP in Northland in 2017? The value of GDP in Northland in 2017 is _______. A. $2,262 billion B. $1,291 billion C. $971 billion D. $1,439 billion Item Amount (billions) Consumption expenditure 720 Wages 652 Indirect taxes less subsidies 148 Investment 235 Net exports of goods and services 54 Profit 171 Government expenditure on goods and services 282
Use the following data to answer the questions below: Category Consumption Depreciation Retained earnings Gross investment Imports Exports Net foreign factor income Government purchases a. How much is GDP? Instructions: Enter your responses as a whole number. $ $ billion b. How much is net investment? $ Billions of Dollars $200 20 12 30 60 billion c. How much is national income? billion 50 10 80
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GDP 1. Calculate the values for the blanks in the shaded areas of the table below: Expenditure Components of GDP by Country, 2020 (83Son of current US dollars) Australia Canada Denmark Finland Japan India 1617 137.9 873 65.9 C E FOOD 80.0 65.3 16 0.5 L M N 195.4 97.G 1725 96.7 Household consumption Government expenditure Investments Gross fixed Investments Changes in inventories Net Exports Exports Imports A: ÄÜÄ÷ B: C: D: E: F: G: H: I: J: 746.5 K: L: 297.2 A 316.9 4.3 3152 254.7 943.7 371.8 B 377.7 (147) K 476.0 509.8 M: N: 0: P: 1,591.7 Q: R: 292.1 722.0 97.0 4973 $11.3 કીડી || T: 2.700.7 Y: 1,066.4 1,279.5 106 785.4 786.2 New Zealand UK 122.0 43.7 G 47.3 (p.s) P 46A GDP S U W Y Source: GOP by Type of Expenditure at current prices-US dollars, Retrieved 7/27/2022. National Accounts Estimates of Main Aggregates United Nations feste Division 472 Z: ZZ: 1,683.7 2. Based on the information in the table and your calculations for Question #1: Do any countries have positive net exports?…
Consider an economy that produces wood, boats, and has a marketing agency.This year domestic wood production generates revenues of $80. Of this $80 worth of wood, $40were purchased by the boat producer and $40 were sold abroad to a foreign company. The woodproducer paid $40 worth of wages and $10 worth of taxes.The boat producer combines the services of the marketing agency, the wood it purchased from thewood producer, and $20 worth of labor (wages) to produce $120 worth of boats. Its revenues,which include a boat produced in the previous year and that was carried as inventory, are $130.Domestic families buy all these boats. This company pays $10 worth of taxes.The marketing agency, whose sole client is the boat company, generates a revenue of $40 whichis enough to cover its labor costs of $40. This company pays no taxes.The government in this economy uses the $20 worth of taxes and builds a port. The cost of theport is $40 that are paid to workers. This port is partially financed by…
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How do you calculate potential GDP when you are given this chart?