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 cat SEZE 7 • 43 50 369 12 52 36 24 22 8 conomy Al figures are in bilions of dollars. Net domestic

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 cat SEZE 7 • 43 50 369 12 52 36 24 22 8 conomy Al figures are in bilions of dollars. Net domestic

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter8: Aggregate Demand And The Powerful Consumer

Section8.A: National Income Accounting

Problem 3TY

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$20 Proprietor incme Compensaton of Employees Consumpton of Fied Capita Gross Investment Rents interest 300 10 20 Exports mpots Corporate Profts Taxes on Produdon and imports Net Foreign Factor Income Satistical Discrepancy Reter to the accompanying data. Al figurs are in billons of dolers. Net domentie product is $395. O$375
Suppose a closed economy has a national income of $260 milion. $535 midon in private savings, $200 millon worth of tax evenue, and $150 milion in govemment spenting what is the consumprion expenditure in this economy? Os125 milion Os155 milion OS385 mition Ossa5 milion OS645 milion
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Given the following income data, please answer the questions below: Real GDPConsumption IgGovernmentExportsImports$ 80000$120000$7000 $18000$6000$11000$160000$180000$7000 $18000$6000$ 11000$240000$240000$7000 $18000$6000$11000$320000$300000$7000 $18000$6000$11000$400000$360000$ 7000 $18000$6000$11000 a. Solve for net exports in each row.b. Solve for aggregate expenditures (AE) in each row.c . State the value for the equilibrium GDP. d. If imports were to increase by $40000 so they are now equal to $51000. solve for net exports again.e. With this new export value, solve for aggregate expenditures in each row.f. State the value for the new equilibrium GDP.g. Solve for the multiplier (you can solve for either the actual or simple multiplier).
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One day, Barry the Barber, Inc., collects $400 forhaircuts. Over this day, his equipment depreciates invalue by $50. Of the remaining $350, Barry sends $30to the government in sales taxes, takes home $220 inwages, and retains $100 in his business to add newequipment in the future. From the $220 that Barrytakes home, he pays $70 in income taxes. Based onthis information, compute Barry’s contribution to thefollowing measures of income.a. gross domestic productb. net national productc. national incomed. personal incomee. disposable personal income
solve questions e and d
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find the NNP at factor cost
Search 1 X Chap7 Hw (1).docx Format Tools Help a Assignments - Principles of M No Spacing 2 W S # 3 BIU A. A. E Consider the following national income accounting data for an economy in a recent year. All figures are in billions of dollars. Personal Taxes Social Security Contributions Rents Taxes on Production & Imports Corporate Income Taxes Interest Proprietor's Income. Transfer Payments Dividends e X Compensation of Employees Net Exports Undistributed Corporate Profits Government Purchases Net Private Domestic Investment Econ 2105 Chap7 Fw 111.docx x + /bomcoldodma figpchkicefolgmifalc/views/app.html Imports Personal Consumption Expenditures Consumption of Fixed Capital (Depreciation) Net Foreign Factor Income Corporate Profits Statistical Discrepancy d C $ 4 r With the above data, follow Tables 7.3, 7.4, and 7.5 in the textbook for guidelines and acceptable steps to calculate: (a) Gross Domestic Product (GDP) by both the expenditures and the income approaches. EXTI Th % 5 t g Oll 6…