Meereen's National Accounts (2019)($ billions)Government purchases48Proprietors' incomes and rentsExportsIndirect taxes341930Gross investment40Wages and salaries81Corporate income6020ImportsNet investment31Personal consumptionStatistical discrepancy90What is the value of the total statistical discrepancy, before dividing it into two halves?Multiple Choice$177 billion$37 billion$18.5 billion$21.5 billion$56 billion

GDP or gross domestic product is the total output produced in an economy during a given period of…

Meereen's National Accounts (2019) ($ billions) Government purchases 48 34 Proprietors' incomes and rents Exports 19 Indirect taxes 30 Gross investment 40 Wages and salaries 81 Corporate income 60 Imports 20 Net investment 31 Personal consumption Statistical discrepancy 90 What is the value of the total statistical discrepancy, before dividing it into two halve Multiple Choice $177 billion $37 billion $18.5 billion $21.5 billion $56 billion

Meereen's National Accounts (2019) ($ billions) Government purchases 48 34 Proprietors' incomes and rents Exports 19 Indirect taxes 30 Gross investment 40 Wages and salaries 81 Corporate income 60 Imports 20 Net investment 31 Personal consumption Statistical discrepancy 90 What is the value of the total statistical discrepancy, before dividing it into two halve Multiple Choice $177 billion $37 billion $18.5 billion $21.5 billion $56 billion

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

ChapterD: The Expenditure-output Model

Section: Chapter Questions

Problem 23CTQ: Exercise D23 Two counties are in a recession. Country A has an MPC of 0.8 and Country B has an MPC...

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Compute the GNP using the Income Approach and Expenditure Approach. Personal Consumption ExpendituresP 1,059,000 Compensation of employees and entrepreneurial & propertyIncome of persons980,000 Government Income31,000 Indirect Taxes132,500 Exports of goods and non-factor services648,200 Fixed Capital Formation232,400 Government Services116,000 Imports of goods and non-factor services648,100 Subsidies3,900 Trade237,000 Increase in Stocks7,200 Corporate Income16,000 Depreciation Allowance176,000 General Government Consumption Expenditures86,500 Net Factor Income From Abroad20,600
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Refer to the figure below: Insurance and pensions 11.9% Item a. Entertainment b. Transportation c. Clothing Housing 32.8% Item Weight 0.053 0.159 0.03 Entertainment 5.3% Transportation 15.9% Price Change 20% -8% 100% Health care 8.1% Source: U.S. Bureau of Labor Statistics, Consumer Expenditure Survey (2018 data). Use the item weights in the figure to determine the percentage change in the CPI that would result from a(n) a. 20 percent increase in entertainment prices. b. 8 percent decrease in transportation costs. c. doubling of clothing prices. (Note: Review the table titled "Computing Changes in the CPI" in your text for assistance.) Instructions: Enter your responses as a percentage rounded to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Food 12.9% Impact on CPI (Inflation Effect) Clothing 3.0% Miscellaneous 10.1%
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 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 1100 100 50 160 70 220 -10 130 780 320 99 160
Expalin the income approach in GDP briefly
In a simple economy, calculate gross domestic product using the following figures. (Not all variables need to be used, an extra variable may be given.)a. Calculate by spending approach.b. Calculate with income approach. Consumption 9500 Investment 3000 Wear 1750Profits 2400Exports 850Payments to employees 11500Government purchases 3200 Direct Taxes 1200Savings 1600 Imports 900
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
Round to 2 decimal digits plz
Work out this questions Which of the following are included in household consumption expenditures: fees levied (charged) by government for the public television service; the purchase of apartments; interest paid on loans; parking fines; driving license fees?
1. What relationship does the income expenditure model represent? Why is it used?
Exercise D23 Two counties are in a recession. Country A has an MPC of 0.8 and Country B has an MPC of 0.6. In which country will government spending have the greatest impact?