Question 1 Assume aggregare revenues of the workers is 400 billion dollar in Mexico. Assume share of workers from GDP is between 20-60% share of capital is 20-60%, and share of other types of income is 10%, a) Calculate GDP, aggregate profits, and aggregate value of other types of income in Mexico. b) Assume aggricultural sectore makes up 30% of Mexico's GDP, industrial sector 50% and service sector 20% of the GDP. In all sector input costs are 30% of the revenues revenues. Calculate value added and input costs of each sector.

Question 1 Assume aggregare revenues of the workers is 400 billion dollar in Mexico. Assume share of workers from GDP is between 20-60% share of capital is 20-60%, and share of other types of income is 10%, a) Calculate GDP, aggregate profits, and aggregate value of other types of income in Mexico. b) Assume aggricultural sectore makes up 30% of Mexico's GDP, industrial sector 50% and service sector 20% of the GDP. In all sector input costs are 30% of the revenues revenues. Calculate value added and input costs of each sector.

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

See similar textbooks

Similar questions

Using data from Table 19.5 how much of the nominal GDP growth from 1980 to 1990 was real GDP and how much was inflation?
What are typical GDP patterns for a high-income economy like the United States in the long run and the short run?
An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it grows at an annual rate of 2 for 20 years? 2 for 40 years? 4 for 40 years? 6 for 40 years?
Are there other ways in which we can measure productivity besides the amount produced per hour of work?
Refer back to the Work It Out about Comparing the Economies of Two Countries and examine the data for the two countries you chose. How are they similar? How are they different?
In 1980, Denmark had a GDP of 70 billion (measured in U.S. dollars} and a population of 5.1 million. In 2000, Denmark had 3 GDP of 160 billion (measured in U.S. dollars} and a population of 5.3 million. By what percentage did Denmarks GDP per capita rise between 1980 and 2000?
How is GDP per capita calculated differently from labor productivity?
Ethiopia has a GDP of 8 billion (measured in U.S. dollars) and a population of 55 million. Costa Rica has a GDP of 9 billion (measured in U.S. dollars) and a population of 4 million. Calculate the per capita GDP for each country and identify which one is higher.
Cross country comparisons of GDP per capita typically use purchasing power parity equivalent exchange rates, which are a measure of the long run equilibrium value of an exchange rate. In fact, we used PPP equivalent exchange rates in this module. Why could using market exchange rates, which sometimes change dramatically in a short period of time, be misleading?
Is it possible for GDP to rise while at the same time per capita GDP is falling? Is it possible for GDP to fall while per capita GDP is rising?
Why do you suppose that U.S. GDP is so much higher today than 50 or 100 years ago?
Use an example to explain why, after periods of rapid growth, a low-income country that has not caught up to a high-income country may feel poor.