macroeconomicsUse the following data to answer the questions below. All figures are in billions.田Proprietor's IncomeNet Exports6622Dividends32Wages and SalariesTaxes on Production and ImportsUndistributed Corporate ProfitsPersonal SavingConsumptionReceipts of factor incomePayments of factor incomeTransfer Payments446364240490201224Rent28DepreciationSocial Security ContributionsInterest544026Personal Taxes52Corporate Income TaxesCorporate ProfitsGovernment Purchases38112144Net Private Domestic Investment66A. Calculate GDP by both the expenditures and the income approaches.B. Calculate NDP.C. Calculate NI in two ways.D. Calculate PI from NIE. Calculate DI and Personal saving rate.

GDP refers to the final value of goods and services produced within the country during a period of…

Use the following data to answer the questions below. All figures are in billions. Proprietor's Income Net Exports 66 22 Dividends 32 Wages and Salaries Taxes on Production and Imports Undistributed Corporate Profits Personal Saving Consumption Receipts of factor income - Payments of factor income Transfer Payments Rent Depreciation Social Security Contributions Interest 446 36 42 40 490 20 12 24 28 54 40 26 Personal Taxes 52 Corporate Income Taxes Corporate Profits Government Purchases 38 112 144 Net Private Domestic Investment 66 A. Calculate GDP by both the expenditures and the income approaches. B. Calculate NDP.

Use the following data to answer the questions below. All figures are in billions. Proprietor's Income Net Exports 66 22 Dividends 32 Wages and Salaries Taxes on Production and Imports Undistributed Corporate Profits Personal Saving Consumption Receipts of factor income - Payments of factor income Transfer Payments Rent Depreciation Social Security Contributions Interest 446 36 42 40 490 20 12 24 28 54 40 26 Personal Taxes 52 Corporate Income Taxes Corporate Profits Government Purchases 38 112 144 Net Private Domestic Investment 66 A. Calculate GDP by both the expenditures and the income approaches. B. Calculate NDP.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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explain how income tax affects (i) household savings (ii) business investment
Answer (iv) & (v) only.
6. Expenditures and Income Approaches Consumption Expenditures Wages Taxes on Production and Imports Government Purchases Statistical Discrepancy Imports Undistributed Corporate Profits Rent Proprietor's Exports Dividends Depreciation Income Interest Gross Private Domestic Investment Corporate Income Taxes Corporate Profits Net Foreign Factor Income $69000 $76000 $16000 $58000 $11000 $47000 $14000 $42000 $15000 $34000 $22000 $24000 $31000 $41000 $18000 $54000 $17000 Complete parts a and b. a. Given the numbers above, solve for Real GDP using the expenditures approach. Given the numbers above, solve for the National Income (NI). b.
7- The__________refers to the sum of all current incomes received by the individuals or households from all sources within the domestic territory of a country during an accounting year. a. National income b. Private income c. Personal income d. Passive income
m2 14 17 62 0000 BV BY HI AY AS HY BY BY BY W S X 43 Use the table below: E Government 50 spending Social Security Contributions Corporate taxes Personal income taxes Rent Wages D Gross Private Domestic Investment Consumption 250 expenditures $ 4 8 R F % 5 20 9 PA 5 8 T 54 40 GDI-Wages + Interest Rent Profit Indirect Business Taxes + Depreciation Gross Domestic Product (GDP). A 6 4 IN Y C V B Profit Indirect business taxes Imports Exports G H & 49 Interest Depreciation 10 7 Government 8 transfer payments 190 U N 00. 8 28 J 10 W - 5 3 ing M 4 9 K 81 0 V F -0 1 L 4 P > . ; P PM X { 14 2
Personal Taxes Social Security Contributions Rents Taxes on Production & Imports Corporate Income Taxes Interest Proprietors' In come Transfer Payments Dividends Compensation of Employees Exports Undistributed Corporate Profits Government Purchases Net Private Domestic Investment Imports Personal Consumption Expenditures Consumption of Fixed Capital (Capital Depreciation) Net Foreign Factor Income Corporate Profits Statistical Discrepancy $ Billions 35 15 28 31 20 31 26 52 43 16 320 45 36 55 35 25 395 45 10 83 -14 a. With the data above, clearly show your steps including the economic variables involved and calculate: 1. Gross Domestic Product (by any approach of your choice). Interpret your estimated GDP value. 2. National Income (by any approach of your choice). Interpret your estimated national income value. 3. Personal Income. Interpret your estimated personal income value.
Personal Consumption Expenditures Government Purchases Gross Private Domestic Investment Net Exports Net Foreign Factor Income Consumption of Fixed Capital Taxes on Production and Imports Compensation of Employees Rents Interest Proprietors Income Corporate Income Taxes Dividends Undistributed Corporate Profits Statistical Discrepancy Refer to the accompanying national income Multiple Choce $520 SEZE $400 128 7 .. 43 369 12 BARBERT 15 52 24 22 figures are in billions of dollars. Net domestico
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Depreciation equals ________. a. capital minus gross investment b. capital minus net investment c. net investment minus gross investment d. gross investment minus net investment
Solve part 4 and part 5 only typed answer
2. The following information has been extracted from National income accounts data of a certain country; Amount (Billion) Particulars Personal consumption expenditure Transfer Payment Rent on land Capital Consumption Allowance Social Security Contribution Interest on Capital Proprietor's income (Profits) Net exports Dividends 245 12 14 27 20 13 31 3 16 221 Compensation to employees (Wages) Indirect taxes 18 Undistributed corporate profits 21 Personal taxes 26 Corporate income taxes Corporate profits Government purchases of goods and services Net private domestic investments Personal savings 19 56 72 33 16 Required: (i) Net National product (ii) National income (iii) Personal ircome (iv) Disposable Income (v) Per capital Income