Study the following figures: Compute the GNP using the Income Approach and Expenditure Approach. (In Million Pesos) Personal Consumption Expenditures Compensation of employees and entrepreneurial & property Income of persons Government Income Indirect Taxes Exports of goods and non-factor services Fixed Capital Formation Government Services Imports of goods and non-factor services Subsidies Trade Increase in Stocks Corporate Income Depreciation Allowance General Government Consumption Expenditures Net Factor Income From Abroad P 1,059,000 980,000 31,000 132,500 648,200 232,400 116,000 648,100 3,900 237,000 7,200 16,000 176,000 86,500 20,600

Study the following figures: Compute the GNP using the Income Approach and Expenditure Approach. (In Million Pesos) Personal Consumption Expenditures Compensation of employees and entrepreneurial & property Income of persons Government Income Indirect Taxes Exports of goods and non-factor services Fixed Capital Formation Government Services Imports of goods and non-factor services Subsidies Trade Increase in Stocks Corporate Income Depreciation Allowance General Government Consumption Expenditures Net Factor Income From Abroad P 1,059,000 980,000 31,000 132,500 648,200 232,400 116,000 648,100 3,900 237,000 7,200 16,000 176,000 86,500 20,600

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Personal Consumption Expenditures Government Purchases Gross Private Domestic Investment Net Exports Net Foreign Factor Income Consumption of Fixed Capital Taxes on Production and Imports Compensation of Employees Rents Interest Proprietors Income Corporate Income Taxes Dividends Undistributed Corporate Profits Statistical Discrepancy Refer to the accompanying national income Multiple Choce $520 SEZE $400 128 7 .. 43 369 12 BARBERT 15 52 24 22 figures are in billions of dollars. Net domestico
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Q.No.4. Compare and contrast product, income, and expenditure methods of measuring National Income in detail. Also exemplify at least three (3) problems of each method?
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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.
Personal Taxes Social Security Contributions Taxes on Production and Imports Corporate Income Taxes Transfer Payments U.S. Exports Undistributed Corporate Profits Government Purchases $ 40 15 20 40 22 24 35 90 Gross Private Domestic Investment 75 U.S. Imports 22 Personal Consumption Expenditures 250 Consumption of Fixed Capital (depreciation) Net Foreign Factor Income Statistical Discrepancy Refer to the accompanying data (all figures in billions of dollars). DI is 25 10 0 Multiple Choice $284. $329. $274, Prev 10 of 50 Next >
Explain any four precautions that should be taken while estimating national income by the production method?
Component Value ($bil) Component Value (Sbil) Consumption 680 Government outlays 300 Business Fixed Investment 90 Government purchases 220 Residential Investment 40 Labor income 520 Inventory stock, 12/31/22 160 Capital income 260 Inventory stock, 12/31/23 150 Net income of foreigners 40 Imports 140 Taxes, subsidies, and transfers 120 Exports 120 Depreciation 70 For each of the following calculations, show your work! a) Compute net exports (X) and investment (1) for this country. b) Use the spending approach to compute GDP (Y) for this country. c) Use the equation Y-C-G to compute national saving (S) for this country. How does it relate to your answer to part a? d) Briefly discuss how this country's spending components, as proportions of GDP , compare with the US in a recent year. e) Use the income approach to compute GDP for this country. Given your answer to part b, what is the size of the statistical discrepancy?