The following table contains data for country A for the year 2019. Household purchases of durable goods Household purchases of nondurable goods Household purchases of services Household purchases of new housing Purchases of capital equipment Inventory changes Purchases of new structures Depreciation Salaries of government workers $1,293 $1,717 $301 $704 $310 $374 $611 $117 $1,422

The following table contains data for country A for the year 2019. Household purchases of durable goods Household purchases of nondurable goods Household purchases of services Household purchases of new housing Purchases of capital equipment Inventory changes Purchases of new structures Depreciation Salaries of government workers $1,293 $1,717 $301 $704 $310 $374 $611 $117 $1,422

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If the net national Product at market price is 320 billion and the net current transfer receipt from the rest of the world is 240 billion what would be the net national disposable income?
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Answer ☐ U.S. Gas Prices in 2015 Month Price ($) March 2.556 April 2.499 May 2.749 June 2.863 July 2.877 August 2.779 Source: U.S. Energy Information Administration (Oct 2015) Sales in 2015: Grocery Stores Month Sales (Millions of Dollars) January 50,652 February 46,192 March 50,329 April 49,257 May 52,290 June 50,073
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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.
Written answer with explanation only
Consider an economy that produces wood, boats, and has a marketing agency. This year domestic wood production generates revenues of $80. Of this $80 worth of wood, $40 were purchased by the boat producer and $40 were sold abroad to a foreign company. The wood producer paid $40 worth of wages and $10 worth of taxes. The boat producer combines the services of the marketing agency, the wood it purchased from the wood producer, and $20 worth of labor (wages) to produce $120 worth of boats. Its revenues, which include a boat produced in the previous year and that was carried as inventory, are $130. Domestic families buy all these boats. This company pays $10 worth of taxes. The marketing agency, whose sole client is the boat company, generates a revenue of $40 which is enough to cover its labor costs of $40. This company pays no taxes. The government in this economy uses the $20 worth of taxes and builds a port. The cost of the port is $40 that are paid to workers. This port is partially…
The value of cars that the Ford Motor Company produces in a German plant is a part of U.S. GDP. a part of U.S. GNP. a part of German GNP. not a part of German GDP.
Net Foreign Factor Income Corporate Profits Gross Private Domestic Investment Proprietors' Income Dividends Consumption of Fixed Capital Social Security Contributions US Exports Government Purchases Personal Consumption Expenditures Transfer Payments Imports of the US Personal Taxes Corporate Income Taxes Taxes on Production and Imports Interest $8 47 73 $372 billion. $317 billion. 46 13 41 10 23 97 314 27 24 46 23 50 16 Undistributed Corporate Profits Statistical Discrepancy 66 Refer to the accompanying national income statistics (in billions of dollars). Personal income is Multiple Choice $483 billion. $376 billion. 11
Table 23-2 The table below contains data for the country of Crete for the year 2018. Total income Household purchases of durable goods Household purchases of nondurable goods Household purchases of non-education services Household purchases of education services Household purchases of new housing Purchases of capital equipment Inventory changes Purchases of new structures Depreciation Local government spending on goods and services State government spending on goods and services Federal government spending on goods and services Transfer payments Foreign purchases of domestically produced goods Domestic purchases of foreign goods 8. Refer to Table 23-2. What was Crete's GDP in 2018? a. $4623 b. $5731 c. $6037 d. $6839 $5731 $1108 $702 $203 $302 $816 $333 $75 $267 $401 $236 $419 $1182 $707 $217 $129 9. Refer to Table 23-2. What was Crete's consumption in 2018? a. $1810 b. $2013 c. $2315 d. $3131