Personal Consumption Expenditures$620Saving50Government Purchases200Net Domestic Product750Statistical DiscrepancyGross Investment180National Income780Exports220Imports240Personal Income760Refer to the accompanying data (all figures in billions of dollars). Disposable incomeis1) $830.2) $750.3) $670.4) $730.

Disposable Income is the difference between personal income and personal income tax. In the given data, since personal income tax is not given thus disposable income can be calculated by adding personal consumption expenditure and savings. Disposable Income = 620+50 Disposable Income = 670 Answer: c. $670 billion.

Business

Economics

Personal Consumption Expenditures $620 Saving Government Purchases 50 200 Net Domestic Product 750 Statistical Discrepancy Gross Investment 180 National Income 780 Exports Imports 220 240 Personal Income 760 Refer to the accompanying data (all figures in billions of dollars). Disposable income is 1) $830. 2) $750. O 3) $670. O 4) $730.

Personal Consumption Expenditures $620 Saving Government Purchases 50 200 Net Domestic Product 750 Statistical Discrepancy Gross Investment 180 National Income 780 Exports Imports 220 240 Personal Income 760 Refer to the accompanying data (all figures in billions of dollars). Disposable income is 1) $830. 2) $750. O 3) $670. O 4) $730.

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

If real GDP is $2200 billion, the GDP deflator is 110, nominal net exports are $100 billion, nominal investment is $200 billion, and nominal government expenditures are $400 billion, what is nominal consumption? 1) $1300 2) $1500 3) $1520 O 4) $1720
Consumption expenditure (trillons of 2012 dollars) 25 45° line 20 15 Consumption funccion 10 E ua n e 10 15 20 Disporable income (crillions of 2012 dollars) 14
14. Gross Domestic Product equals $1.2 trillion. If consumption equals $660 billion, investment equals $220 billion, and government spending equals $250 billion, then: O imports exceed exports by $140 billion. O exports exceed imports by $70 billion. O exports exceed imports by $140 billion. O imports exceed exports by $70 billion.
explain it corrects. not copy paste
Personal Taxes Net Private Domestic Investment Net Exports National Income U.S. Exports Gross Private Domestic Investment Disposable Income Taxes on Production and Imports Undistributed Corporate Profits Proprietors' Income Net Foreign Factor Income Statistical Discrepancy Multiple Choice Refer to the accompanying national income data. All figures are in billions of dollars. The gross domestic product is O C о $328. $382. $333. $23 33 6 278 20 56 220 32 15 45 0 $301. 0
When a firm produces and sells a refrigerator worth $1,000, its contribution to the gross domestic product (GDP) on the income side is measured by: O a. the price paid by the consumer. b. the investment made by the firm to manufacture the refrigerator. c. the cost of raw materials used by the firm to manufacture the refrigerator. d. the sum of the wages, interest, and rent paid by the firm's owners and the profit of the firm. e. the stock of inventories used by the firm to manufacture the refrigerator.
Table 7-2 Year 1 Year 1 Year 2 Year 2 Goods Quantities Prices Quantities Prices A 90 $1.50 80 $1.40 80 $0.60 70 $0.70 C 70 $0.40 60 $0.50 Refer to Table 7-2. GDP in Year 1 is O $215.00 O $211.00 O $186.00 O $191.00
Suppose GDP is $16 trillion, with $10 trillion coming from consumption, $2 trillion coming from gross investment, $3.5 trillion coming from government expenditures, and $500 billion coming from net exports. Also suppose that across the whole economy, depreciation (consumption of fixed capital) totals $1 trillion. From these figures, we see that net domestic product equals: a. $17.0 trillion. b. $16.0 trillion. c. $15.5 trillion. d. None of the above.
Suppose that nominal GDP per person is €18,000 in 2013, the 2005 GDP deflator is 100, and the 2013 GDP deflator is 110. The approximate real per person GDP in 2013 is O €16,364. O €19,800. O €18,000. O €16,634.
Question 5, I need help
An American retailer purchased 100 pairs of shoes from a company in Mexico in the second quarter of 2016 but does not sell them to a consumer until the third quarter of 2016. In which quarter(s) does(do) the value of the shoes add to U.S. GDP? O the third but not the second quarter O the second quarter but not the third quarter O the second and third quarters O neither the second nor the third quarter Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
QUESTION 28 In year one, real GDP is $4,500 and in year two real GDP is $4,800. What was the growth rate of real GDP between years one and two? OA. -approximately 7% OB-6, 25% OC 93.75% OD. approximately 15% QUESTION 29 The agency responsible for compiling the National Income Product Accounts for the U.S. economy is the O A. Bureau of Econamic Analysis O B. National Bureau of Cconomic Research OC Bureau of Labor Statistics O D.Council of Economic Advisors QUESTION 30 Which of the following is an example of a final good or service? OA. Paint purchased by Ford, Inc. used to paint their new fleet of Mustangs. OB. Beef bought by a restaurant owner from a wholesale food distributor. OCA brand new economics text book purchased by a PGCC student. O Jet Fuel bought by Northwest Airlines to power its fleet of planes. QUESTION 31 Which of the following is true about real GDP? O A. IL is always equal to nominal GDP O B. IL increases only when price increases OCIL increases only when output…