Suppose the Following information was published by Australia Bureau of Statistics in 2017: Item Amount (AUD billion) Household consumption (C) 1029.81 Government consumption 340.92 Exports 386.39 Value of cocaine seized at Sydney Airport 10,500 Value of intermediate goods in tractor Manufacturing   52,003 Gross private domestic investment (I) 352.69 Imports 386.95 Components used in the manufactrure of cars 40,000 Gifts 15,236 Government investment 88.19 Value of second-hand goods                500.00   Use the information to answer the following questions Identify the items that are not included in the GDP calculation. Calculate Australia’s GDP in 2017.

Q: Gross private domestic investment is one of four expenditure values used in: Select one: national…

A: Gross private domestic investment is that amount of money which is invested by businesses with in…

Q: The following table shows data on consumption, investments, exports, imports, and government…

A: Gross Domestic Product: Gross Domestic Product (GDP), refers to the total market value of all final…

Q: Consider the following data referring to any economy that has no foreign  relations: GDPmp = 6000…

A: National saving is the sum of the public and private saving. Investment is amount spent on the…

Q: The GNP of a country is $200 billion, receipts of factor income from the rest of the world are $10…

A: GDP is the gross domestic product. GDP is defined as the market value of all the final goods and…

Q: Current Account Value Exports of goods 107,941 Exports of services 44,133 Primary income 36,063…

A: The statistical discrepancy is the amount by the sum of the capital, current and financial account…

Q: Government spending 50 Profit 28 Social Security contributions 20 Indirect business taxes 10…

A: It is the money amount that households have available for consumption(C) or saving(S) after taxes(T)…

Q: g. Calculate 2013 exports as a percentage of imports. h. Calculate 2013 government purchases on…

A: Government spending is one of the important part of aggregate spending in the economy.

Q: Consider the following national accounts data for Westeros: Westeros' National Accounts (2019) GDP…

A: Import means the process of bringing goods or services into a nation from abroad.Export means the…

Q: Personal Consumption Expenditures $ 400 Government Purchases 128 Gross Private Domestic Investment…

A: The National Money is the total amount of income earned by a country from economic activity over the…

Q: Although they are within legal limits, Company X's operations are causing toxins to build up in the…

A: GDP measures the market value of final goods and services produced within an economy during a given…

Q: Calculate the Gross National Product from the Data Below: Consumption Expenditures: Wages and…

A: GDP is the gross domestic product. GDP is defined as the market value of all the final goods and…

Q: What is the economic term for the total value of goods and services produced within a country's…

A: The economic term for the total value of goods and services produced within a country's borders in a…

Q: The following data were recently obtained from the BEA; values are in billions of dollars: Personal…

A: Gross Domestic Product (GDP) measures the value of final goods and services produced with in the…

Q: Spending Category Amou (Billions of dollars) Corporate profits 305 Depreciation 479 Gross private…

A: Disposable income is total personal income minus current income taxes. In national accounts…

Q: Consumption                                             $400 Imports…

A: The given information is as follows: Consumption                                       $400…

Q: Item Personal consumption expenditure Government expenditure on goods and services Net taxes Gross…

A: GDP is the value of the final goods and services that are produced and manufactured in a country.

Q: GDP Data (in $ billion) Table 7-1 Durable goods = $11,080.00 Services = $12,500.56 Business…

A: Gross domestic product is a monetary measure of the market value of all the final goods and services…

Q: BMW, a German owned company produces some of its cars (Mini Coopers) in South Carolina. In 2018 BMW…

A: Given, Revenue of BMW from Americans in 2018= $32 million       Revenue of BMW from Greeks in 2018=…

Q: efer to the accompanying national income data (in billions of dollars). Gross domestic product is…

A: 1090-11=1079 11-net exports(X-M) C+I+G 475+300+315=1090 GDP=1079 billion.