#5 Personal Taxes$ 40Social Security Contributions15Taxes on Production and Imports20Corporate Income Taxes40Transfer Payments22U.S. Exports24Undistributed Corporate Profits35Government Purchases90Gross Private Domestic Investment75U.S. Imports22Personal Consumption Expenditures250Consumption of Fixed Capital(depreciation)25Net Foreign Factor Income10Statistical DiscrepancyRefer to the accompanying data (all figures in billions of dollars). GDP is

The gross domestic product (GDP) is a monetary measure of the market value of all final products and services produced in a given time period.GDP by expenditure or output approach: GDP= Personal consumption by household + Gross private domestic investment + Government purchases + net exports. Putting it in the form of a formula we get GDP= C + I +G + Xn C= consumption by house hold = 250 I= gross private domestic investment= 75 G= government spending or purchases= 90 Xn= net exports, (Exports - imports) US exports - Us imports Xn= 24- 22= 2 GDP= 250 +75 + 90 +2 GDP= $417

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Personal Taxes $ 40 Social Security Contributions 15 Taxes on Production and Imports 20 Corporate Income Taxes 40 Transfer Payments 22 U.S. Exports 24 Undistributed Corporate Profits 35 Government Purchases 90 Gross Private Domestic Investment 75 U.S. Imports Personal Consumption Expenditures Consumption of Fixed Capital (depreciation) 22 250 25 Net Foreign Factor Income Statistical Discrepancy 10 Refer to the accompanying data (all figures in billions of dollars). GDP is

Personal Taxes $ 40 Social Security Contributions 15 Taxes on Production and Imports 20 Corporate Income Taxes 40 Transfer Payments 22 U.S. Exports 24 Undistributed Corporate Profits 35 Government Purchases 90 Gross Private Domestic Investment 75 U.S. Imports Personal Consumption Expenditures Consumption of Fixed Capital (depreciation) 22 250 25 Net Foreign Factor Income Statistical Discrepancy 10 Refer to the accompanying data (all figures in billions of dollars). GDP is

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter17: Production And Growth

Section: Chapter Questions

Problem 5CQQ

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Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category Amount (in billions) Wages and Salaries 1000Consumption 1700Investment 700Depreciation 50Government Expenditure100Taxes 300Exports 50Imports 40Income receipts from rest of the world10Income payment to rest of the world50 What are net exports for China? 4. Suppose that GDP in Japan is 1030 and then grows to 1160 (all numbers in billions)What is the growth rate of GDP in Japan?Use the following information to answer questions 5 through 15: The tables below show data on prices and quantities of Oranges and Shoes produced in China. Data for 2014Price of Oranges Quantity of Oranges Price of Shoes Quantity of Shoes0.7 200 10 270Data for 2015Price of Oranges Quantity of Oranges Price of Shoes Quantity of Shoes0.9 150 14 250Data for 2016Price of Oranges Quantity of Oranges Price of Shoes Quantity of Shoes1.4 300 15 3305. Given this data, what is the Nominal GDP in 2014?6. What is the Nominal GDP in…
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Referto the information provided in Table below to answer the questions that Billions Receipts of factor income from the rest of the world 20 Depreciation Government purchases Imports Payments of factor income to the rest of the world 30 90 40 40 150 90 500 Net private domestic investment Personal taxes Personal consumption expenditures Dividends Exports Amount of national income not going to 10 60 30 households 1- The value for GDP in billions of dollars 2- The value for GNP in billions of dollars 3- The value for NNP in billions of dollars 4- The value for national income in billions of dollars 5- The value for disposable personal income in billions of dollars
Refer to the table given. The gross national product (GNP) in billions of TL is . TL Billions Government purchases Services consumption Receipts of factor income from the rest of the world Nonresidential investment 1000 500 30 650 Exports Durable goods consumption Change in business inventories Imports Nondurable goods consumption Payments of factor income to the rest of the world Residential investment 50 300 40 200 600 50 200 3120 3420 3220 3060
Solve 4 and 5
macroeconomics Use the following data to answer the questions below. All figures are in billions. 田 Proprietor's Income Net Exports 66 22 Dividends 32 Wages and Salaries Taxes on Production and Imports Undistributed Corporate Profits Personal Saving Consumption Receipts of factor income Payments of factor income Transfer Payments 446 36 42 40 490 20 12 24 Rent 28 Depreciation Social Security Contributions Interest 54 40 26 Personal Taxes 52 Corporate Income Taxes Corporate Profits Government Purchases 38 112 144 Net Private Domestic Investment 66 A. Calculate GDP by both the expenditures and the income approaches. B. Calculate NDP. C. Calculate NI in two ways. D. Calculate PI from NI E. Calculate DI and Personal saving rate.
From the data below calculate the gross national product at factor cost: Ksh. MillionImports 42,000Value of physical increase in stock 1,300Exports 43,000Capital formation 25,000Government expenditure 29,000Consumer expenditure 84,000Taxes on expenditure 20,000Subsidies 3,000Net property income from abroad 400
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
Refer to the following input-output (1-0) table of a national economy (entries are in billions of Turkish liras): Agriculture Manufacture Services Final Demand Total 280 650 310 Agriculture Manufacture Services Factors: Labor Capital (profits) Intermediate import Total 80 120 170 1010 50 75 280 150 400 270 230 1 405 5 85 30 315 150 135 720 Which of the following statements is NOT correct about the above 1-0 table? 730 460 1 010 E) Most of the foreign inputs are used by the Manufacture sector. 1 405 720 A) Services sector has the least percentage of all intermediate inputs proportional to its total inputs... B) Outputs of Agriculture and Services sectors are used by final demand approximately at the same percentage. C) Agriculture sector has the least percentage of domestic intermediate inputs proportional to its total inputs. D) Manufacture sector has the largest contribution to the GDP.
According to the figure showing 2020 GDP for selected countries, how much larger (in percentage terms) is America's GDP than: 21.43 14.34 5.08 United China Japan States b. Russia? % larger Copyright © McGraw Hill LLC. Permission required for reproduction or display. GROSS DOMESTIC PRODUCT (in U.S. $ trillion) % larger 3.86 2.87 2.83 1.70 1.27 Germany India Great Britain Russia Mexico Source: Gross Domestic Product 2020. The World Bank Group, March 2021 0.53 Sweden Instructions: Round your responses to the nearest whole number. a. Germany? 0.21 Greece 0.01 Haiti