rerer to the information provided in table 4 below to answer the question(s) that follow.Table 4$BillionsDepreciationReceipts of factor income from the rest of the worldGovernment purchasesImportsPayments of factor income to the rest of the worldNet private domestic investmentPersonal income taxes2040150504016080Personal consumption expendituresDividends70010ExportsAmount of national income not going to households7030Referring to table 4, calculatea. The values for GDP, GNP, and NNP.b. The values for national income, personal income, and disposable personalincome.

Answer: (a). GDP=PCE+GP+NPDI+Exports-ImportsWhere,PCE=private consumption expenditureGP=government…

Kerer to the information provided in table 4 below to answer the question(s) that follow. Table 4 $Billions 20 Deprediation Receipts of factor income from the rest of the world Government purchases Imports Payments of factor income to the rest of the world Net private domestic investment 40 150 50 40 160 Personal income taxes 80 Personal consumption expenditures Dividends 700 10 70 Exports Amount of national income not going to households 30 Referring to table 4, calculate a. The values for GDP, GNP, and NNP. b. The values for national income, personal income, and disposable personal income.

Kerer to the information provided in table 4 below to answer the question(s) that follow. Table 4 $Billions 20 Deprediation Receipts of factor income from the rest of the world Government purchases Imports Payments of factor income to the rest of the world Net private domestic investment 40 150 50 40 160 Personal income taxes 80 Personal consumption expenditures Dividends 700 10 70 Exports Amount of national income not going to households 30 Referring to table 4, calculate a. The values for GDP, GNP, and NNP. b. The values for national income, personal income, and disposable personal income.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please solve Both a&b
1. Calculate the GDP by using both formulas, expenditure approach and income approach. Also calculate in each case how much time it will take to double the GDP. YEAR 2 Consumption 6,000 1,500 Investment Depreciation 600 Interest 300 Corporate Profit Exports Compensation of Employees Government Purchases 600 700 6,500 1,000 Indirect Taxes 200 Saving Imports 1,100 500 Rent 500 YEAR 1 Wages 4000 Rent 1000 Interest 500 Proprietor's Income Consumption Depreciation 2000 3000 200 Investment 1500 Indirect Taxes Government Purchases Savings Imports Exports 300 2500 700 9000 10000
Items Amount (in billions $) Total Federal and State Tax Gov't purchase of goods and services Personal Income 215 625 2,400 30 Purchases of stocks and bonds Planned domestic investment 175 Personal income taxes Changes in Corporate inventory (unplanned domestic investment) 400 140 Sales of secondhand items 8. Net exports of goods and services Personal consumption expenditure -5 1,750 (a) Assuming the U.S economy is closed, calculate the values of: i. Personal disposable (net) income ii. GDP iii. Total Savings (b) Assuming the U.S economy is open, calculate the values of: Personal disposable (net) income ii. Total savings i. GDP 111. (c) Calculate the personal disposable income and the U.S government surplus or defici
! Pub The population of country X is 1,000 people. Here are the expenditures for country X for one year. Consumption Expenditures $500,000 Investment Expenditures Government Expenditures $400,000 $150,000 Imports $50,000 24. What is the GDP of country X? 25. What is the per capita GDP of Country X? 26. The city of Detroit has high unemployment. The automobile industry in Detroit has suffered from global competition and has moved much of the remaining production out of Detroit. The population of the city has fallen from a high of 1,850,000 in 1950 to 701,000 in 2013. Some of the highest crime rates in the United States are now those of Detroit, and huge areas of the city are in a state of severe urban decay. The police force and fire service do not have enough money to pay for staff and equipment such as fully operational vehicles. In 2013, Detroit filed the largest municipal bankruptcy case in U.S. history. How does unemployment affect the income of city? Describe how unemployment…
The following table presents 2015 data from the national-income accounts of the United States. Indicate the various expenditures used to determine GDP under the expenditure approach. Then indicate the various income payments and indirect costs used to determine GDP under the resource cost-income approach. Component Personal Consumption Employee Compensation Rents Gov't Consumption & Investment Imports Depreciation Corporate Profits Interest Income Exports Gross Private Investment Indirect Business Taxes Self-Employment Income Net Income of Foreigners Billions of Dollars Expenditure approach Resource cost-income approach 12,269.1 9,655.3 656.6 3,183.0 2,782.9 2,582.6 2,048.0 Using the expenditure approach, GDP is 525.1 2,325.60 3,021.1 1,302.8 1,388.5 -143.00 Using the resource cost-income approach, GDP is $ kkkkkkk P
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
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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
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Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Compensation of employees U.S. exports of goods and services Consumption of fixed capital Government purchases Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services Personal taxes Net foreign factor income Personal consumption expenditures Statistical discrepancy Instructions: Round your answers to 1 decimal place. a. GDP = $ billion b. NDP = $ c. NI=$1 billion billion Billions $ 195.2 18.8 11.8 59.4 14.4 52.1 13.9 16.5 40.5 2.2 219.1 0.0
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