The gross domestic product (GDP) of CountryA is $2 trillion in year 1. What value ofinvestment will increase its GDP to $4.5trillionin year 2? (present your result in the nearestbillion dollars, i.e., no decimal places)Assume that the average disposable incomeand consumption (in real $) of this country'scitizen are provided in the table below.Year Income Consumption160,00050,00064,72651,259

To solve the GDP we will assume average disposable income and consumption in real$

Answered: The gross domestic product (GDP) of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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(Expenditure approach to GDP). You have the following annual information about a hypothetical economy (all figures are in billion dollars) Personal taxes 25 Exports 20 Depreciation 15 Personal consumption 100 Government transfer payment 30 Government purchases 55 Gross private Domestic Investment 50 Imports 40 WHAT IS THE VALUE OF GDP? WHAT IS THE VALUE OF NET EXPORTS? WHAT IS THE VALUE OF NET DOMESTIC INVESTMENT?
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The following table shows data on personal consumption expenditures, gross private domestic investment, exports, imports, and government consumption expenditures and gross investment for the United States in 2007, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the following table to calculate GDP. Components Personal Consumption Expenditures (CC) $9,734.2 Gross Private Domestic Investment (II) $2,125.4 Exports (XX) $1,643 Imports (MM) $2,351 Net exports of goods and services (X−MX−M) Government Consumption Expenditures and Gross Investment (GG) $2,689.8 Gross domestic product (GDP) This method of calculating GDP, which involves summing the , is called the approach.
2. Saving and investment in the national income accounts The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $1,800 million. Enter the amount for government purchases. National Income Account Value (Millions of dollars) Government Purchases (G�) Taxes minus Transfer Payments (T�) 585 Consumption (C�) 675 Investment (I�) 675 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)National Saving (�) = = G - TG - T = = I� million Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private SavingPrivate Saving = = = = million Public SavingPublic…
What is Gross Domestic Product if investment spending is $1,879.99, households receive $170.17 in net interest income, wages equal $13,555.17, rental receipts on land are $1, total business profits before taxes are $1,611.03, and indirect business taxes are $1,329.47? Assume all other types of income and depreciation are zero and that other values for potential components of GDP are unknown for this example. Round your answer to two digits after the decimal.
GDP Data (in $ billion) Table 7-1 Durable goods = $10,600.49 Services = $12,500.56 %3D Business purchases of capital goods = $1,080.00 Fixed investment = $1,970.45 Exports = $700.00 Imports = $820.46 Nondurable goods = $1,000.46 Inventory investment = $301.25 Government transfer payments - $1,240.26 %3D Purchases of new residential housing - $890.45 Government purchases = $7.890.56 Refer to Table 7-1. GDP is equal to O S34,141.31 O $33,143.31 O $34,133.31 O $34.143.31
1.1. What is the US GDP for the first quarter and second quarter of 2020? What is the personal consumption expenditures for the first quarter and second quarter of 2020?
11 - : In an imaginary economy, if the disposable income is 200 and the consumption expenditure is 220, what are the savings? a) -20 B) -40 NS) -50 D) -10 TO) -30
In the country of Marzipana, disposable income in Year 1 was $56,000 million and in Year 2 was $60,000 million: It has been observed that each time disposable income changes in this country by $100, consumption changes by $70. Using this information compute the change in consumption from Year 1 to Year 2. A)Consumption increased by $2,800 million in Year 2. B)Consumption decreased by $2,800 million in Year 2. C)Consumption increased by $5,714 million in Year 2. D)Consumption increased by $4,000 million in Year 2. E) Consumption decreased by $4,000 million in Year 2.
The following table shows the U.S. gross domestic product (GDP) G, in trillions of dollars, as a function of the year t. t = Year 2004 2010 2014 G = GDP(trillions of dollars) 11.87 14.66 17.42 (a) Explain in practical terms what G(2010) means. The expression G(2010) is the year when the U.S. gross domestic product had a value of 11.87 trillion dollars.The expression G(2010) is the gross domestic product in trillions of dollars, multiplied by 2010. The expression G(2010) is the average of G(2004) and G(2010).The expression G(2010) is the U.S. gross domestic product in trillions of dollars in the year 2010. Find G(2010).$ trillion(b) Use functional notation to express the gross domestic product in 2012, and estimate that value. (Round the estimated value to two decimal places.) G = $ trillion(c) What is the average yearly rate of change in G from 2010 to 2014? (Round your answer to two decimal places.)$ trillion(d) Use your answer from part (c) to…
Refer to the Table. Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 3 is Year 1 Good X 60 Good Y 100 OA) $204. OB) $222. OC) $250. OD) $270. Production Year 2 80 110 Year 3 100 130 Year 1 $1.00 $0.80 Prices Year 2 $1.00 $0.90 Year 3 $1.40 $1.00
1. Calculate the values for the blanks in the shaded areas of the table below (identify your responses in a logical fashion in your document): Expenditure Components of GDP by Country, 2018 (billions of US dollars) Denmark Finland Australia Canada India Japan New Zealand UK US Consumption 808.7 996.9 165.9 146.1 1650.6 2763.3 120.0 1870.5 13998.7 Investment Business fixed investment 336.9 385.1 78.8 65.6 842.7 1202.5 49.1 487.3 4260.7 Changes in inventories 0.1 9.4 2.9 3.4 27.4 11.2 0.1 5.8 54.7 Government 275.5 357.1 86.6 62.7 312.1 981.6 38.4 528.3 2904.3 Net Exports Exports Imports 348.5 544.9 197.9 106.8 548.6 917.1 58.2 856.8 2510.2 312.0 581.1 176.4 108.8 657.0 904.4 58.1 907.1 3148.5 GDP Source: UNData, UN Statistics Division, data.un.org, GDP by Type of Expenditure at current prices – US dollars 2. Based on the information in the table and your calculations for Question #1: Do any countries have positive net exports? Which one(s)? Which country has the largest negative net…

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