Answered: If GDP is $200, income earned by…

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

If GDP is $200, income earned by foreign investments is a credit gain of $22, income paid to foreigners is a debit loss of $28, losses from derivatives are $6, and net transfers abroad is a debit loss of $10, calculate Gross National Product (GNP)

a) $184

b) $178

c) $194

d) $140

e) $204

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Follow-up Question

wouldn't the answer be $184 since you also have to subtract net transfers abroad - debit loss of $10.

(GDP+net income earned by foreign investment - investment income paid to foreigners + net transfers)

$200+$22-$28-$10 = $184

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