In our second section (and a bit of the lastweek) we discussed the concept of grossdomestic product (GDP) and the connectionbetween GDP and BOP. If nominal GDP is$12,204, consumption (C) is $8,606,investment (Ig) is $1,722, and governmentspending (G) are $1,498.Does this country have trade deficits or tradesurpasses, and how much?Use the information above and the followingdata to find Private Investments. The countryhas Private Savings 1895bn, Governmentrevenue 1886bn.If the net statistical discrepancy is 40bn, andthe total of capital and financial account is-305bn in the last year. Using the informationabove, calculate the changes in officialreserves, and conclude what are the changesin official reserves (increase or decrease).Please provide a detailed calculation. A simpleanswer is not accepted.

GDP (gross domestic product) is the aggregate market value of all finished services and goods…

In our second section (and a bit of the last week) we discussed the concept of gross domestic product (GDP) and the connection between GDP and BOP. If nominal GDP is $12,204, consumption (C) is $8,606, investment (Ig) is $1,722, and government spending (G) are $1,498. Does this country have trade deficits or trade surpasses, and how much?

In our second section (and a bit of the last week) we discussed the concept of gross domestic product (GDP) and the connection between GDP and BOP. If nominal GDP is $12,204, consumption (C) is $8,606, investment (Ig) is $1,722, and government spending (G) are $1,498. Does this country have trade deficits or trade surpasses, and how much?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Using the table below, calculate the indicated values. Sector Consumption Investment Government spending Net exports Population Value (millions) $770,000 $165,000 $220,000 $-60,000 55 Instructions: Round your answers to the nearest dollar. a. Total gross domestic product = $ million. GDP per person is $ b. Consumption, investment, government spending, and net exports each as a percentage of total GDP. (Note: Enter your answers in the table below.) c. Consumption, investment, government spending, and net exports per person. (Note: Enter your answers in the table below.) % of total GDP Per person ($) Consumption Investment Government spending Net exports
U.S. real GDP is substantiality higher today than it was 60 years ago. What does this tell us, and what does it not tell us, about the well-being of U.S. residents.
The following table shows data on personal consumption expenditures, gross private domestic investment, exports, imports, and government consumption expenditures and gross investment for the United States in 2007, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the following table to calculate GDP. Components Personal Consumption Expenditures (CC) $9,734.2 Gross Private Domestic Investment (II) $2,125.4 Exports (XX) $1,643 Imports (MM) $2,351 Net exports of goods and services (X−MX−M) Government Consumption Expenditures and Gross Investment (GG) $2,689.8 Gross domestic product (GDP) This method of calculating GDP, which involves summing the , is called the approach.
Fill in the blank with the choices in parentheses 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, consumption plus savings, transfers plus government purchases, investment spending) flowing out of this sector.
As you learned in the most recent chapter, GDP is the broadest measure of economic health in the U.S. Therefore, the discussion forum for the week will ask you to discuss GDP in your own words. Specifically, Business leaders, Government officials, and investors are often fixated on GDP results and economic growth. Why? What does it matter? The same level of interest is given to productivity. What is it and why does it matter in the scheme of things? What does GDP fail to tell us?
Question Hello. Can you please assist on the follwing question below. You have been appointed chief economist of a small economy of Uhuru. Use the information below which relates to Uhuru in 2020 and answer the questions that follow: National income Accounting Total in uhuru for 2020 R (millions) Consumption 86 495 Gross capital formation 9 897 Government spending 12 458 Net exports 8 891 Primary income payments to the rest of the world 2 154 Primary income receipts 924 Consumption of fixed capital 165 Subsidies 325 Taxes 467 Q.1 Calculate the gross domestic product (GDP) at market prices for Uhuru in 2020. Q.2 Calculate the net domestic product at market prices for Uhuru in 2020. Q.3 Calculate the net national product at factor cost for Uhuru for 2020.
If U.S. government statistics counted education spending as part of the investment, which of the following would rise, which would fall, and which would remain unchanged? You might use rise, fall, and stay unchanged more than once each or you might not. Consumption Investment Gross domestic product
Fill in the blank with the options given in the parentheses and use the chart given to help you. 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, consumption plus savings, transfers plus government purchases, investment spending) flowing out of this sector.
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
The Wakandan GDP for the year 2040 was $87,000. Government expenditures were $29,000 and investment was $6,000. They exported $15,000 worth of vibranium and imported $14,000 worth of coffee beans. If these are the only relevant transactions, what is the value of government spending? Round to two decimal places. Do not enter the currency symbol, but enter the negative sign if appropriate. If your answer is -$1.125, enter -1.13. 29,000
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? $14,561 % 3,744 3,754 2,504 Wages and salaries Corporate profits Proprietors' income 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? Income Rents Interest Taxes on output and imports Depreciation Statistical discrepancy (3,136) $21,427 = Total value of income $11,434 2,075 1,658 778 645 1,494 3,463 (120) $21,427
Core chapter 1.2 will help with this question. Do not include the dollar sign in your answer. Fruitland has a very simple economy: it produces just apples and oranges. It has no imports and exports Apples Oranges 100 Quantity in year 1 Price in year 1 Quantity in year 2 Price in year 2 50 $1.00 $0.80 80 120 $1.25 $1.60 Using the table above, what was Fruitland's nominal GDP in year 1? Answer: