How does U.S. gross domestic product (GDP) differ from U.S. gross national product (GNP)?Select one:a. GNP = GDP - losses from depreciationb. GNP = GDP - depreciation - retained earningsc. GNP = GDP + transfer payments to households +- indirect sales taxesd. GNP = GDP + income earned by U.S. citizens abroad - income that foreign citizens earned in the U.S.

Domestic Product is the value of goods and services which are produced by residents and non…

How does U.S. gross domestic product (GDP) differ from U.S. gross national product (GNP)? Select one: a. GNP = GDP - losses from depreciation b. GNP = GDP - depreciation - retained earnings O c. GNP = GDP + transfer payments to households + - indirect sales taxes d. GNP = GDP + income earned by U.S. citizens abroad - income that foreign citizens earned in the U.S.

How does U.S. gross domestic product (GDP) differ from U.S. gross national product (GNP)? Select one: a. GNP = GDP - losses from depreciation b. GNP = GDP - depreciation - retained earnings O c. GNP = GDP + transfer payments to households + - indirect sales taxes d. GNP = GDP + income earned by U.S. citizens abroad - income that foreign citizens earned in the U.S.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

How does U.S. gross domestic product (GDP) differ from U.S. gross national product (GNP)?
Select one:
a. GNP = GDP - losses from depreciation
b. GNP = GDP - depreciation - retained earnings
c. GNP = GDP + transfer payments to households +- indirect sales taxes
d. GNP = GDP + income earned by U.S. citizens abroad - income that foreign citizens earned in the U.S.

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Direction: Choose your answer from the box, and write the letter of your choice on the space provided. X. The Expenditure Approach Y. The Income Approach Z. The Industrial Origin Approach 1. Imports 2. Mining and Quarrying Industry 3. Indirect Business Taxes 4. Government Consumption Expenditure & Gross Investment 5. Industry Sector 6. Construction Industry 7. Transport and Commerce Industry 8. Exports - 9. Manufacturing Industry 10. Depreciation 11. Personal Consumption Expenditures 12. Agriculture, Fishery and Forestry Industry 13. Compensation of Employees 14. Trade Industry 15. Net Exports 16. Rental Income of Persons 17. Service Sector 18. Profits 19. Gross Private Domestic Investment 20. Net Interest
If depreciation exceeds gross investment, The difference between GDP and NDP is smaller than gross investment. Gross investment is negative. The nation's capital stock is being depleted. O Net investment exceeds depreciation.
24
Gross Domestic Product is equal to the market value of all the final goods and services O A. produced within a country in a given period of time. B. consumed by the citizens of a country O C. consumed within a country D. produced and consumed within a country E. produced by the citizens of a country Click to select your answer. MacBook Air DII F8 000 000 F7 F6 F5
Dollar Amount Item Durable goods Nondurable goods Services Fixed investment Inventory investment Government purchases Exports (Billion Dollars) 220 400 700 130 20 500 110 Imports 150 Capital consumption allowance 20 Compensation of employees 700 Proprietors' income 480 Corporate profits Rental income Income earned from the rest of the world Income earned by the rest of the world 200 200 200 40 Indirect business taxes 80 Statistical discrepancy 30 Undistributed corporate profits 20 Social insurance taxes 80 Corporate profits taxes Transfer payments Personal taxes Net interest 30 50 80 20 Complete the following table by calculating GDP, NDP, national income, personal income, disposable income, and net exports. Item Dollar Amount (Billion Dollars) GDP NDP $ National income $ Personal income $ Disposable income Net exports If purchases of new capital goods are $90 billion, then purchases of new residential housing are equal to $ billion.
Personal consumption expenditures $4,750 Exports $810 Federal government spending $1,400 Social Security taxes $600 Depreciation $450 Indirect Business Taxes $550 New Residential Construction $800 Imports $850 Non Residential Investment $300 Corporate Income Taxes $200 Corporate Profits $50 Personal Taxes $800 Business Taxes $1,000 Transfer Payments $700 Part A: In the table above and using the Expenditure Approach calculate the Gross Domestic Product (GDP) in millions of dollars Part B: Now assume that consumers purchase an extra $2000 of goods produced overseas, i.e., the consumption expenditures (from Part A) increase to $6,750. How would this scenario affect the GDP deflator, i.e., increase, decrease, remain unaffected or there is not enough information to tell?
?
Consider the following table: GDP Depreciation Corporate earnings Transfer Payments Personal Tax Payments National income (NI) equals $ Personal income (PI) equals $ Disposable personal income (DPI)equals $ billion. (Enter your response as an integer.) billion. (Enter your response as an integer.) billion. (Enter your response as an integer.) Billions of dollars $13,300 1,500 1,250 600 1,000
Calculate the value of consumption of fixed capital National income = $4000 GDPMP = $5000 Net indirect tax = $300 Net factor income from abroad = $200 All values are in million
I got the answer 621, but that was wrong so I’m not real sure where I derailed.
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?
The table below shows the data for the country of Magnolia. Complete the national income accounting framework by filling in the missing data. Remember to enter a minus (-) sign to indicate negative values. Expenditures Consumption Gross investment Government spending Net exports Gross domestic product at market prices 100 Less depreciation Less indirect taxes (net of subsidies) Net domestic product at basic prices +/- net foreign factor income Net national product at basic prices 320 350 30 260 50 160 70 1100 220 100 -10 780 320 06 160 130