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- The link between gross domestic product (GDP) and national income (NI) isSelect one from the following options. A)indirect business taxes, net foreign factor income, savings B)indirect business taxes, profit, investment C)indirect business taxes, net foreign factor income, consumption of fixed capital D)indirect business taxes, net foreign factor income, investmentThe following transactions took place in Ecoland in 2018: Trillions of 2014 dollars Government purchases 400 Taxes 360 Firms’ profits 300 Investment 400 Consumption expenditure 1000 Wages paid to labor 1400 Exports 300 Government transfer payments 150 Imports 350 (a). Calculate Ecoland’s real GDP in 2018, i.e., GDP measured in 2014 $. (b) How much do households save in Ecoland? Is it enough to finance domestic investment? (c) Does the government have a balanced budget? If not, what is the surplus or deficit? (d) If Ecoland’s nominal GDP in 2018 is $1900 trillion, how much inflation has Ecoland experienced since 2014?What is the importance in macroeconomics of measuring per capita GDP? Provide examples and explain your answer. Requirements: Each response must be 250 to 300 words. When using reference material, you must properly cite the sources using in-text citations with the APA style. You must also include a reference list.
- 1- Answer the following questions, According to given data about Country X, Corporation Tax Insurance Payment Student Grant Payments Export Import Retained Earnings Government Expenditures Depreciations Consumption Payments Personel Taxes A. What is the value of Gross Domestic Product for country X? B. What is the value of Gross National Product for country X? C. What is the value of Net National Product for country X? D.What is the value of National Income for country X? E. What is the value of Personel Income for country X? F. What is the value of Disposable Personel Income for country 25 15 15 25 15 40 X? 400 30 950 60 Indirect Taxes 70 Other Transfer Payments 20 Gross Investments 250 Net Foreign Factor Income Interest Earnings 55 15The country of Economica's GDP deflator and nominal GDP in three different years are shown in the table. Year Nominal GDP GDP Deflator year 1 $25128 122 year 2 $54566 108 year 3 $30967 100 The base year, i.e. the base period, is Year 3. For years 1-3, please obtain the real GDP. Round your answers to the nearest dollar. What is the real GDP for year 1? real GDP: $ What is the real GDP for year 2? real GDP: $ What is the real GDP for year 3? real GDP: $The following graph approximates business cycles in the United States from the first quarter of 1953 to the third quarter of 1957. The vertical blue bar coincides with periods of 6 or more months of declining real gross domestic product (real GDP). (? 2700 2600 2500 2400 2300 1953 1954 1955 1956 1957 YEAR Source: "Current-dollar and Real GDP," Bureau of Economics Analysis, last modified May 1, 13, accessed May 15, 13, http://www.bea.gov/national/xls/gdplev.xls. Notice that real GDP trends upward over time but experiences ups and downs in the short run. These short-run fluctuations in real GDP are often referred to as True or False: Small ups and downs in real GDP follow a consistent, predictable pattern. O True O False Which of the following probably occurred as the U.S. economy experienced increasing real GDP in 1954? Check all that apply. O Car sales declined. O The unemployment rate declined. O Corporate profits increased. O Consumer spending declined. REAL GDP (Billions of dollars)
- 20(1).pdt 它 ☆ 5/6 001 Math It Graph It Write It Business Cycle Question Using the actual data from the table please construct a business cycle model. Remember to include the actual adjusted GDP (2005 Dollars) as well as the GDP trend line. Number your horizontal axis, time, with 2000 as the origin at one year increments. Label your vertical in 1000s of billions, just like the table. Use a number line break on the vertical and number from $10,000 billion to $14,000 billion in 250 billion increments. GDP in Billions, Current Dollars Year GDP In Billions, 2005 Dollars 2000 9,951.5 11,216.4 2001 10,286.2 11,337.5 2002 10,642.3 11,543.1 2003 11,142.2 11,836.4 2004 11,533.3 12,246.9 2005 12,623.0 12,623.0 2006 13,377.2 12,958.5 2007 14,028.7 13,206.4 2008 14,291.5 13,161.9 2009 13,939.0 12,703.1 2010 14,526.5 13,088.0 http://www.bea.gov/national/(a) The following table shows the outputs and prices of three products produced by an economy in 2018, 2019 and 2020. (i) Measure the nominal GDP, the real GDP and the GDP deflator in 2019 and 2020, taking 2018 as the base year.(ii) Using the GDP deflator, measure the inflation rate in the economy between 2018 and 2019, and also between 2019 and 2020. (b) Assume all household consumption items are locally produced as shown in the table in Question (a). A typical household in the economy consumes 5 units of rice, 4 units of shirt and 2 units of shoes in 2018. Using 2018 as the base year, measure the CPI for 2019 and 2020 and the inflation rate between 2018 and 2019, and also between 2019 and 2020. Explain why the inflation rate is different from those computed from (a)(ii).National income accounting for a certain country in the year for 2020 is given in Table 2. Based on the table, answer the following questions. Amount in $ (million) 180 8,120 3,800 1,320 4,230 12,000 10,120 12,100 8,000 3,120 3,240 Items Net factor income Consumption expenditure Public investments Import Export Government expenditure Wages Interest, rent and profit Indirect taxes Subsidies Depreciation a) By using expenditure approach, calculate Gross Domestic Product (GDP) at market price. b) By using income approach, calculate Gross Domestic Product 9GDP) at market price. c) Based on your understanding on Gross Domestic Product (GDP), explain why do you think that GDP Ís important, and what is the limitation of GDP?
- The following table shows the national income data for an economy in year 2020. ITEMS Dividends Interest on government loan Undistributed profit Gross interest Subsidies Corporate income taxes interest on consumer loan Indirect taxes Gross Domestic Product at factor cost Depreciation Wages and salaries Rent Corporate income before taxes You are required to calculate: (a) net interest. (b) corporate profit. (c) National Income. (d) Gross National Product at factor cost. Net factor income from abroad. RM (Million) 160 100 125 990 120 180 90 160 4,370 250 1,080 645 710Principles of Macroeconomics "T1301102" Student name: First Exam- PART2, 13/0372021 St # Question (20 points) Refer to the table below, answer the questions that follow: Personal consumption expenditures Government purchases- Net private domestic investment Exports Imports Depreciation Receipts of factor income from the rest of the world Payments of factor income to the rest of the world 600 100 200 50 -60 40 30 50 1 The value for GDP is 2. The value for GNPIS 3. The value for NNP is 4. The value of NI is (30 points) Question 2 A- Discuss therelationship between ourput, unemployment, & inflation.The tables show the spending and revenue for Littleland in 2010. Use the tables and other information to answer the questions Spending category education welfare and Social Security health care defense payments on debt other Value (millions) $320 $890 $270 $120 $170* $%240 Revenue categoryValue (millions) ncome tax sales tax corporate tax social insurance $800 $270 $300 $340 GDP in 2010: $7.3 billion Total debt as of 2009: S3.5 billior *This payment covers total interest owed only How much money in millions did Littleland need to borrow in 2010 to finance its government spending? What was Littleland's deficit to GDP ratio in 2010? Give your answer to the nearest whole percentage point. At the end of 2010, what was Littleland's debt to GDP ratio? Give your answer to the nearest whole percentage point.