Using the data given in Table 1, compute the net exports. Briefly discuss your result and indicate whether there is a trade surplus or a trade deficit in the current account. The following table shows some national accounting data for a given year for a hypothetical country.Table 1 National Accounting Data ($billions)Capital depreciation$950 (billions)Change in business inventory50Compensation of employees5000Corporate profit800Durable goods600Exports200Factor payments from the rest of the world360Factor payments to the rest of the world300Farm income300Gross private domestic investment1000Government spending800Imports150Net interest600Non-durable goods2000Non-farm income700Proprietors' income1000Rental income100Services4000

Exports are products and services that are manufactured internally and acquired by outsiders. This…

The following table shows some national accounting data for a given year for a hypothetical country. Table 1 National Accounting Data ($billions) Capital depreciation Change in business inventory Compensation of employees Corporate profit Durable goods $950 (billions) 50 5000 800 600 Exports Factor payments from the rest of the world Factor payments to the rest of the world Farm income Gross private domestic investment Government spending 200 360 300 300 1000 800 Imports Net interest Non-durable goods Non-farm income Proprietors' income 150 600 2000 700 1000 Rental income 100 Services 4000

The following table shows some national accounting data for a given year for a hypothetical country. Table 1 National Accounting Data ($billions) Capital depreciation Change in business inventory Compensation of employees Corporate profit Durable goods $950 (billions) 50 5000 800 600 Exports Factor payments from the rest of the world Factor payments to the rest of the world Farm income Gross private domestic investment Government spending 200 360 300 300 1000 800 Imports Net interest Non-durable goods Non-farm income Proprietors' income 150 600 2000 700 1000 Rental income 100 Services 4000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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