The table shows some of the items in an economy's National Income and Product Accounts.Calculate national income and disposable personal income.AmountItem(trillions of dollars)What is consumption expenditure as a percentage of disposable personal income?WagesGovernment expenditure5.91.8>>> Answer to 1 decimal place.Interest, rent, and profitConsumption expenditure2.2National income is $ trillion and disposable personal income is $ trillion.7.0Investment1.6Disposable personal income ispercent of national income.Net exports- 0.3Indirect taxes less subsidies0.7Retained profitsTransfer payments1.4Consumption expenditure ispercent of disposable personal income.1.1Personal income taxes1.2GNP10.1Depreciation1.2Enter your answer in each of the answer boxes.MacBook AirDIIF12F11F10000000888F980F7F8F6F5F4F3escF2F1&#!781234{PTYQWEtabJKFGAScaps lockM+ I/%24D

National income is the total value of all goods and services produced within a country's borders…

The table shows some of the items in an economy's National Income and Product Accounts. Calculate national income and disposable personal income. Amount (trillions of dollars) 5.9 Item What is consumption expenditure as a percentage of disposable personal income? >>> Answer to 1 decimal place. Wages Government expenditure 1.8 Interest, rent, and profit Consumption expenditure Investment Net exports 2.2 National income is $ trillion and disposable personal income is $ trillion. 7.0 1.6 -0.3 Disposable personal income is percent of national income. Indirect taxes less subsidies 0.7 Retained profits Transfer payments 1.4 Consumption expenditure is percent of disposable personal income. 1.1 Personal income taxes 1.2 GNP 10.1 Depreciation 1.2

The table shows some of the items in an economy's National Income and Product Accounts. Calculate national income and disposable personal income. Amount (trillions of dollars) 5.9 Item What is consumption expenditure as a percentage of disposable personal income? >>> Answer to 1 decimal place. Wages Government expenditure 1.8 Interest, rent, and profit Consumption expenditure Investment Net exports 2.2 National income is $ trillion and disposable personal income is $ trillion. 7.0 1.6 -0.3 Disposable personal income is percent of national income. Indirect taxes less subsidies 0.7 Retained profits Transfer payments 1.4 Consumption expenditure is percent of disposable personal income. 1.1 Personal income taxes 1.2 GNP 10.1 Depreciation 1.2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please answer 18,19 and 20
The table below shows the price of inputs and the price of outputs at each step in the production process of making a shirt. Assume that each of these steps takes place within the country. Inputs Value of output Cotton Farmer $0 $1.55 Fabric Maker $1.55 Sewing and Printing $3.65 $3.65 $18.20 Instructions: Round your answers to two decimal places. a. Using the standard expenditure method, the total contribution of this shirt to GDP is: b. If we use a value-added method (i.e., summing the value added by producers at each step of the production process, equal to the value of output minus the price of inputs), the contribution of this shirt to GDP is: c. If we mistakenly added the price of both intermediate inputs and final outputs without adjusting for value added, we would find that this shirt contributes: to GDP This overestimates the true contribution by: $
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…
i need help with this macro econmics question 4
I am having a bit of difficulty with this practice question could someone help me, please.
Consumers in a small economy spend $50,000 on goods and services annually. Also annually, investment is $10,000, government spending is $7,000, exports are $400, and imports are $200. What is the value of GDP in this economy? Provide your answer below:
Definition of GDP and explanation of why this is equal to national income [ an explanation of how expenditure approach and income approach to GDP are related ]
Please answer the question in 1-2 paragraphs and minimum 100 words and maximum 200 words. Cheers.
4. Which of the following transactions will be counted in the GDP a) Purchase of a used car. b) Income gained by an American citizen from a company he owns but which operates in Italy. c) Sale of a share of General Motors on the stock market. d) Your production of "home-made" bread for your family's use. e) The production of steel for use in automobile production, that remained in inventory at year's end. f) The sale of steel used in automobile production. g) You fix your neighbor's car in exchange for his helping you with your plumbing, but neither of you reports income to the IRS. h) You fix your neighbor's car in exchange for his helping you with your plumbing, and you report the value of these services to the IRS as income. i) Services of a prostitute in a jurisdiction where prostitution is illegal
The figure shows the flows of expenditure and income in an economy. In 2013, U was $2.0 trillion, V was $0.5 trillion, W was $5.0 trillion, J was $1.5 trillion, and Z was - $1.5 trillion. Calculate total income, net taxes, and GDP.
20. Which of the following represents the measurement of GDP as the sum of consumption expenditures, investment, government purchases of goods and services, and net exports? a.Wealth approach b.Income approach c.Expenditure approach d.Saving approach
Why GDP can be computed either by measuring spending or by measuring income. Briefly explain.