The following data pertains to the economy of Ghana for the year 2018; GHc’000,000 Exports of goods and services 18 Depreciation of fixed capital 12 Government purchases of goods and services 60 Indirect business taxes 15 Net private domestic investment 53 Transfer payments 14 Imports of goods and services 17.5 Personal taxes 41.5 Net foreign factor income earned in Nigeria. 3.1 Personal consumption expenditures 224.2 compute the following economic statistics in relation to the economy 1. Gross domestic product 2. Gross National Product 3. Net national product
The following data pertains to the economy of Ghana for the year 2018; GHc’000,000 Exports of goods and services 18 Depreciation of fixed capital 12 Government purchases of goods and services 60 Indirect business taxes 15 Net private domestic investment 53 Transfer payments 14 Imports of goods and services 17.5 Personal taxes 41.5 Net foreign factor income earned in Nigeria. 3.1 Personal consumption expenditures 224.2 compute the following economic statistics in relation to the economy 1. Gross domestic product 2. Gross National Product 3. Net national product
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
The following data pertains to the economy of Ghana for the year 2018; GHc’000,000
Exports of goods and services 18
Government purchases of goods and services 60
Indirect business taxes 15
Net private domestic investment 53
Transfer payments 14
Imports of goods and services 17.5
Personal taxes 41.5
Net foreign factor income earned in Nigeria. 3.1
Personal consumption expenditures 224.2
compute the following economic statistics in relation to the economy
1. Gross domestic product
2. Gross National Product
3. Net national product
4.
5. Personal income
6. Disposable personal income
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
Using this, can you then solve for the,
National income - Personal income
- Disposable personal income
Solution
by Bartleby ExpertKnowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education