Personal Taxes$4015Social Security ContributionsTaxes on Production and ImportsCorporate Income TaxesTransfer PaymentsU.S. ExportsUndistributed Corporate ProfitsGovernment Purchases2040222435907522Gross Private Domestic InvestmentU.S. ImportsPersonal Consumption Expenditures 250Consumption of Fixed CapitalNet Foreign Factor IncomeStatistical Discrepancy2510Refer to the data. Pl is:1) $402.2) $346.3) $314.4) $408.

Personal income (PI) refers to actual income earned by households from all the sources. Formula for…

Answered: Personal Taxes Social Security…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The table given below reports the value of different economic variables of a country during a year.Table 5.4 GNP Data(Adjusted for net factor income from abroad) Net Investment $400 Capital Consumption Allowance $800 Indirect Business Taxes $600 U.S. Exports $200 U.S. Imports $300 Government Purchases $150 Consumption Spending $2,030 Refer to Table 5.4. Compute the GNP of the country.
Personal Taxes Social Security Contributions Rents Taxes on Production & Imports Corporate Income Taxes Interest Proprietors' In come Transfer Payments Dividends Compensation of Employees Exports Undistributed Corporate Profits Government Purchases Net Private Domestic Investment Imports Personal Consumption Expenditures Consumption of Fixed Capital (Capital Depreciation) Net Foreign Factor Income Corporate Profits Statistical Discrepancy $ Billions 35 15 28 31 20 31 26 52 43 16 320 45 36 55 35 25 395 45 10 83 -14 a. With the data above, clearly show your steps including the economic variables involved and calculate: 1. Gross Domestic Product (by any approach of your choice). Interpret your estimated GDP value. 2. National Income (by any approach of your choice). Interpret your estimated national income value. 3. Personal Income. Interpret your estimated personal income value.
QUESTION 3 Refer to the table (all figures in billions of dollars). The national income (NI) for this economy is #3 Items Amount (i) (1) Personal Taxes $40 (2) Social Security Contributions $15 (3) Taxes on Production and Imports $20 (4) Corporate Income Taxes $40 (5) Transfer Payments $22 (6) U.S. Exports $24 (7) Undistributed Corporate Profits $35 (8) Government Purchases $90 (9) Gross Private Domestic Investment $75 (10) U.S. Imports $22 (11) Personal Consumption Expenditures $250 (12) Consumption of Fixed Capital $25 (13) Net Foreign Factor Income $10 (14) Statistical Discrepancy $0 $314 $362 $382 O $402 O $417 O 0 0 0 0
If a consumer purchases a foreign-produced hair dryer at a department store, the value of the hair dryer is: a. included in both consumer purchases and exports. b. added to capital investment in equipment but then subtracted from consumer purchases. c. included in consumer purchases but then subtracted as part of imports. d. added to imports but then subtracted as part of exports. Please explain your answer
What is the value for Gross Domestic Product if households receive $315 in net interest income, wages equal $10,169, rental receipts on land are $884, total business profits before taxes are $1,862, and indirect business taxes are $1,139? Assume depreciation and net foreign income are zero. Enter the value without a $ and without commas.
U.S. International Transactions Table 20XX ($ bill.) 1. Merchandise exports 2. Merchandise imports 3. Service exports 4. Service imports 5. Income receipts on U.S. assets abroad 20 -30 10 -5 10 6. Income payments on foreign assets in the U.S. -5 7. Government grant, private remittances 8. Change in U.S. private assets abroad, net -5 -10 9. Change in foreign private assets in the U.S., net 20 10. Statistical discrepancy ? 11. Change in U.S. Official Reserves, net -5 12. Change in Foreign Official Reserves, net 10 Use the above table to the question. The official reserve transactions balance is 10. 110 -10. 5. -5.
9:11 %00N a 46 l VOLTE عدنان الكثيري قبل ۱5 دقيقة Government spending Social Security contributions Corporate taxes Personal income taxes 50 Profit 28 20 Indirect business taxes 10 Imports Exports Interest 8 Rent 54 Wages Consumption expenditures Gross Private Domestic Investment 231 Depredation Government transfer payments 10 250 8 40 Using the above table, the Disposable Personal Income (DPI) for the country is Select one: O a. 147. O b. 78. O 220. Od. 293. ?? A
Consider the following table: GDP Depreciation Corporate earnings Transfer Payments Personal Tax Payments National income (NI) equals $11800 billion. (Enter your response as an integer.) Personal income (PI) equals $ 11250 billion. (Enter your response as an integer.) Disposable personal income (DPI)equals $ billion. (Enter your response as an integer.) Billions of dollars $13,200 1,400 1,250 700 1,000
c) The table below contains information about the national income data of a country. RM billion 40 Items Capital consumption Government purchases Subsidies Net exports Indirect taxes Gross private domestic investment Net factor income from abroad Personal consumption expenditures 1,450 70 - 280 160 2,200 - 340 3,100 Using the above table, calculate the Gross Domestic Product at market price (GDPMP), Gross National Product at market price (GNPMP), Gross National Product at factor cost (GNPFC), and national income.
Which of the equations given below regarding national calculations is correct?A) GDP - Depreciations = GNPB) GDP - Depreciations = Domestic RevenueC) National Income + Net Foreign Factor Revenues = Domestic IncomeD) National Income - Personal Income = Income TaxE) GNP = Depreciation + SMH
[The following scenario applies to the next two questions.] The national income accounts for 20XX are Income on Capital Owned by U.S. Residents but Located Abroad Labor Income of U.S. Residents Working Abroad Payments to Capital in the U.S. Owned by Foreigners Payment to Foreigners Working in the U.S. Depreciation of capital stock Corporate profits, taxes on production, business transfers, and net interest Personal transfer payments and personal income receipts on assets Personal taxes Disposable personal income is 389.41. The national accounts have no statistical discrepancies. Question 1.38: Net national product (NNP) What is net national product (national income)? A. 492.04 B. 586.87 C. 614.99 D. 709.82 E. 737.94 Question 1.39: Gross Domestic Product What is Gross Domestic Product? A. 433.79 B. 550.29 C. 556.74 D. 679.69 E. 796.19 91.90 99.57 70.74 62.48 122.95 191.34 177.28 211.52
Consider the following table Previous question GDP Depreciation Corporate earnings Transfer Payments Personal Tax Payments Billions of dollars $13,300 1,450 1,000 600 1,500 National income (NI) equals $ billion (Enter your response as an integer) Personal Income (Pl) equals $ billion (Enter your response as an integer) Disposable personal income (DPI)equals $billion (Enter your response as an integer)

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