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.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

1. What is PPP GDP and why do we need to use it? 2. Why is PPP GDP per capita a better measure then GDP alone?
Use the data below to answer the ensuing questions. Show your work. (5% each)Item ValueUnemployment Rate 10%Labour Force Participation Rate 70%Not in Labour Force 300,000 persons(a) How many people are in the labour force?(b) How many people are unemployed?(c) What is the total adult population in this economy?
7. Questions and Problems 8 What are institutions, and how might they impact the economic growth of a country? Institutions consist of a country's rules and regulations, laws, customs, and business practices. By encouraging or discouraging individuals from producing output, institutions can facilitate or impede economic growth. Institutions consist of a country's rules and regulations, laws, customs, and business practices. By encouraging individuals to produce output, institutions can only facilitate economic growth. O Institutions are establishments devoted to a particular cause or goal. By encouraging individuals to produce output, institutions can only facilitate economic growth. O Institutions consist of a country's rules and regulations, laws, customs, and business practices. By discouraging individuals from producing output, institutions can only impede economic growth.
Table 1 Table 1 shows the labor market schedule and Table 2 shows the production function schedule for the country of Moldovokia. Real wage rate Quantity of labor Quantity of labor demanded supplied What is potential GDP if a decrease in the population changes the quantity of labor supplied by 20 billion hours at each real wage rate? (2012 dollars per hour) 15 (billions of hours per year) 20 60 20 50 30 Potential GDP is $ trillion. 25 40 40 30 30 50 35 20 60 Table 2 Labor Real GDP (trillions of 2012 dollars) 2.0 (billions of hours per year) 20 30 2.7 40 3.2 50 3.5 60 3.6 Enter your answer in the answer box. ? MacBook Air esc 80 000 000 DII DD F1 F2 F3 F4 F5 F6 F7 F8 F9 F10 F11 F12 2$ & * 1 2 3 7 8 delete Q W E Y U { [ A S F G %3D K L D.
Case: Suppose you are watching a news report with a friend. The news report points out that a certain African nation generates a GDP per capita of only $1300 per year. Since your friend knows that Slovenia’s GDP per capita is approximately $26 000, he suggests that Slovenians are materially 20 times better off than the people of the African nation. 2. What general category of production is not captured by GDP in both the Slovenia and the African nation?
16 Calculate the implied growth rate of technology in each scenario. Assume labor's share of output is 60% and capital's share of output is 40%. Instructions: Enter numbers rounded to two decimal place in each box. Growth Rate of Labor (8) Growth Rate of Capital (8) Scenario A B C D Growth Rate of Output (8) 3.0 4.2 3.0 4.2 2 3 2 1 2 3 1 4 Implied Growth Rate of Technology (8)