Suppose that over a year a country's national savings amount to $32B, its net exports of current goods and services (EXP- IMP) amount to $26B, its investment is $14B, and its balance on primary income is $4B. How much, in billions ofdollars, is the amount of the country's balance on secondary income in that year?

To find the country's balance on secondary income, we can use the formula:Balance on Secondary…

Answered: Suppose that over a year a country's…

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp

Section: Chapter Questions

Problem 4WNG

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Please solve using a national income accounting That tax increases (with no change in transfer payments) will change net exports, government spending and the saving-investment balance
how much was the net primary income from the rest of the world in 2019?
Scenario 5.1Suppose that personal income is $250 billion. Furthermore, assume that retained corporate earnings are $2 billion, social security taxes are $15 billion, social security benefit checks equal $16 billion, the capital consumption allowance is $32 billion, and corporate taxes amount to $40 billion. Refer to Scenario 5.1. What will be the value of net national product in this country?
Expenditures for consumer goods and services Exports Government purchases of goods and services Social Security taxes Net investment Indirect business taxes Imports Gross investment Corporate income taxes Personal income taxes Corporate retained earnings Net foreign factor income Government transfer payments to households Net interest payments to households $4,565 $740 $1,465 $510 $225 $520 $825 $865 $185 $750 $45 $20 $690 $0 Table 5.1 National Income Accounts (dollar figures are in billions) On the basis of Table 5.1, personal income is $5,620 billion. $5,790 billion. $6,530 billion. $6,445 billion.
Net exports are -$114 billion and exports are $857 billion. What are imports?
The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $1,170 million. Enter the amount for consumption. Value National Income Account Government Purchases (G) Taxes minus Transfer Payments (T) Consumption (C) Investment (I) (Millions of dollars) 300 390 420 Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S) million
The following are the National Income Account data of the Philippines (figures are in Billions of Pesos). 17 Merchandise Imports Personal Consumption Expenditure Net Factor Income from Abroad Capital Consumption allowance Merchandise Exports Transfer Payments 217 7 15 19 32 Net Private Domestic Investment 8 Indirect Business Taxes 39 Personal Taxes 4 Social Insurance Contributions 10 Undistributed Corporate Profits Dividends 15 Government Expenditure 51 Corporate Income Tax 11 Calculate the Gross private domestic investment. Calculate the Net exports. Calculate the Gross Domestic Product. Calculate the Corporate profits.
To arrive at the National income using the value added method, what has to be added to the net output? a. investments from the private sector b. Imports c. government spending and taxes d. net foreign factor income from abroad
Since it is counted as investment, why doesn’t the purchase of earthmoving equipment from China by a U.S. corporation increases U.S. GDP?
Which of the following best describes the relationship between net exports and national savings? a. Net Exports = National Savings – Investment b. Net Exports = Private Savings - Investment c. Net Exports = Investment - National Savings d. There is no relationship between net exports and national savings.
wouldn't the answer be $184 since you also have to subtract net transfers abroad - debit loss of $10. (GDP+net income earned by foreign investment - investment income paid to foreigners + net transfers) $200+$22-$28-$10 = $184
The table below shows the values for several different components of GDP. Category Personal consumption expenditures Net foreign factor income Transfer payments Rents Consumption of fixed capital (depreciation) Statistical discrepancy Social Security contributions Interest Proprietor's income Net exports Dividends Compensation of employees Taxes on production and imports Undistributed corporate profits Personal taxes Corporate income taxes Corporate profits Government purchases Net private domestic investment Personal saving Imports Instructions: Enter your answers as whole number. a. What is the value of exports? $ b. What is the value of national income? $ 23 billion $ billion c. What is the GDP? billion d. What is the value of personal income? billion Billions of Dollars $ 250 3 10 15 25 12 18 12 31 10 14 228 16 19 24 17 50 70 31 18 13 2

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