Personal Consumption ExpendituresGovernment Purchases$400128Gross Private Domestic InvestmentNet ExportsNet Foreign Factor IncomeConsumption of Fixed CapitalTaxes on Production and ImportsCompensation of EmployeesRents88435036912Interest15Proprietors' IncomeCorporate Income TaxesDividends523624Undistributed Corporate ProfitsStatistical Discrepancy22C.35. The gross domestic product for the above economy is:a. $584.b. $592.c/$609.d. $623.GDP= 65936. Refer to the above data. The national income is:a. $561.b. $573.c. $580.d. $53TheトDP- bno + 88+ 18.ギ

In an economy, the value of GDP and national income can be differ from each other because national…

Personal Consumption Expenditures Government Purchases $400 128 88 Gross Private Domestic Investment Net Exports Net Foreign Factor Income Consumption of Fixed Capital Taxes on Production and Imports Compensation of Employees Rents Interest 43 50 369 12 15 Proprietors' Income Corporate Income Taxes Dividends Undistributed Corporate Profits Statistical Discrepancy 52 36 24 22 35. The gross domestic product for the above economy is: a. $584. b. $592. $609. d. $623. GD 36. Refer to the above data. The national income is: a. $561. b. $573. c. $580. d. $53

Personal Consumption Expenditures Government Purchases $400 128 88 Gross Private Domestic Investment Net Exports Net Foreign Factor Income Consumption of Fixed Capital Taxes on Production and Imports Compensation of Employees Rents Interest 43 50 369 12 15 Proprietors' Income Corporate Income Taxes Dividends Undistributed Corporate Profits Statistical Discrepancy 52 36 24 22 35. The gross domestic product for the above economy is: a. $584. b. $592. $609. d. $623. GD 36. Refer to the above data. The national income is: a. $561. b. $573. c. $580. d. $53

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Personal Consumption Expenditures Government Purchases Gross Private Domestic Investment Net Exports Net Foreign Factor Income Consumption of Fixed Capital Taxes on Production and Imports Compensation of Employees Rents Interest Proprietors Income Corporate Income Taxes Dividends Undistributed Corporate Profits Statistical Discrepancy Refer to the accompanying national income Multiple Choce $520 SEZE $400 128 7 .. 43 369 12 BARBERT 15 52 24 22 figures are in billions of dollars. Net domestico
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4. Suppose that you are given the following data for the country of Trumpland: consumption net factor income from abroad 12,800 10,000 3,100 2,200 2,700 2,900 200 interest payments capital consumption allowance government spending on goods and services 2,400 2,900 3,200 wages investment exports imports profits rental payments 700 From the data provided, find a. GDP using the expenditure approach. b. GNP and NNP. c. NI using the income approach. d. statistical discrepancy. e. GDP using the income approach. (HINT: TrumRland is similar to the US economy for 2016, in billions of dollars.)
1. Given the following national income and product accounts data, compute I, NX, NI, PI, DI, NNP, GNP, and GDP Depreciation Amount of national income not going to households Compensation of employees Corporate profits Dividends Exports Government consumption and gross investment Imports Indirect taxes minus subsidies Net business transfer payments Net interest Net private domestic investment Personal consumption expenditures Receipts of factor income from the rest of the world Personal income taxes Proprietors' income Payments of factor income to the rest of the world Rental income Statistical discrepancy Surplus of government enterprises 3. 12,532 2005 489.4 2006 505.7 12,746 2007 526.7 13,011 2008 553.0 13,275 2009 565.8 13,503 2010 563.1 2011 553.5 13,757 1,215 The following table provides information about Canadian economy for a seven-year period, given 2006 is the base year. Year Real GDP Labor force Unemployed Employed Unemployment Population (Billions) (Thousands) (Thousands)…
Depreciation equals ________. a. capital minus gross investment b. capital minus net investment c. net investment minus gross investment d. gross investment minus net investment
2. The following information has been extracted from National income accounts data of a certain country; Amount (Billion) Particulars Personal consumption expenditure Transfer Payment Rent on land Capital Consumption Allowance Social Security Contribution Interest on Capital Proprietor's income (Profits) Net exports Dividends 245 12 14 27 20 13 31 3 16 221 Compensation to employees (Wages) Indirect taxes 18 Undistributed corporate profits 21 Personal taxes 26 Corporate income taxes Corporate profits Government purchases of goods and services Net private domestic investments Personal savings 19 56 72 33 16 Required: (i) Net National product (ii) National income (iii) Personal ircome (iv) Disposable Income (v) Per capital Income
1.
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Component Value ($bil) Component Value (Sbil) Consumption 680 Government outlays 300 Business Fixed Investment 90 Government purchases 220 Residential Investment 40 Labor income 520 Inventory stock, 12/31/22 160 Capital income 260 Inventory stock, 12/31/23 150 Net income of foreigners 40 Imports 140 Taxes, subsidies, and transfers 120 Exports 120 Depreciation 70 For each of the following calculations, show your work! a) Compute net exports (X) and investment (1) for this country. b) Use the spending approach to compute GDP (Y) for this country. c) Use the equation Y-C-G to compute national saving (S) for this country. How does it relate to your answer to part a? d) Briefly discuss how this country's spending components, as proportions of GDP , compare with the US in a recent year. e) Use the income approach to compute GDP for this country. Given your answer to part b, what is the size of the statistical discrepancy?
QUESTION 2 NATIONAL INCOME DATA (in current prices) 1992 III Personal consumption expenditures Gross private domestic investment Government purchases of goods and services 02. Based on this table, the Net Domestic Product is $ Exports Imports Capital consumption allowance (depreciation) Source: Survey of Current Business, Vol. 72, Number 10, (October 1992), p. 8, 10 QUESTION 3 billion. NATIONAL INCOME DATA (in current prices) 1992 III Personal consumption expenditures Gross private domestic investment Government purchases of goods and services 03. Based on this table, the Net Exports figure is $ (in billions of dollars) 4,105.0 776.9 1,122.5 626.8 664.2 697.3 billion. (in billions of dollars) Exports Imports Capital consumption allowance (depreciation) Source: Survey of Current Business, Vol. 72, Number 10, (October 1992), p. 8, 10 4,105.0 776.9 1,122.5 626.8 664.2 697.3