Use the following table to answer the next question. The following national income data for an economy is in billions of dollars.Net foreign factor income$8Corporate profits47Gross private domestic investment73Proprietors' income46Dividends13Consumption of fixed capital41Social Security contributions10U.S. exports23Government purchases97Personal consumption expenditures314Transfer payments27Imports of the U.S.24Personal taxes46Corporate income taxes23Taxes on production and imports50InterestUndistributed corporate profitsStatistical discrepancyGross domestic product in this economy is161166

Gross Domestic Product is a total measure of economic productivity. It is an economic measure to…

Use the following table to answer the next question. The following national income data for an economy is in billions of dollars. Net foreign factor income $8 Corporate profits 47 Gross private domestic investment Proprietors' income 73 46 Dividends 13 Consumption of fixed capital 41 Social Security contributions U.S. exports Government purchases 10 23 97 Personal consumption expenditures 314 Transfer payments 27 Imports of the U.S. 24 Personal taxes 46 Corporate income taxes 23 Taxes on production and imports 50 Interest Undistributed corporate profits Statistical discrepancy Gross domestic product in this economy is 16 11 66

Use the following table to answer the next question. The following national income data for an economy is in billions of dollars. Net foreign factor income $8 Corporate profits 47 Gross private domestic investment Proprietors' income 73 46 Dividends 13 Consumption of fixed capital 41 Social Security contributions U.S. exports Government purchases 10 23 97 Personal consumption expenditures 314 Transfer payments 27 Imports of the U.S. 24 Personal taxes 46 Corporate income taxes 23 Taxes on production and imports 50 Interest Undistributed corporate profits Statistical discrepancy Gross domestic product in this economy is 16 11 66

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Personal consumption expenditures $5,850 Exports 750 Government spending 1,800 Social Security taxes 900 Depreciation 650 Indirect business taxes 750 Imports 1150 Gross private domestic investment 1200 Corporate income taxes 400 Personal taxes 1000 Corporate profits 550 Transfer payments 800 1) Compute GDP? 2) Compute National Income?
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Dollar Amount Item Durable goods Nondurable goods Services Fixed investment Inventory investment Government purchases Exports (Billion Dollars) 220 400 700 130 20 500 110 Imports 150 Capital consumption allowance 20 Compensation of employees 700 Proprietors' income 480 Corporate profits Rental income Income earned from the rest of the world Income earned by the rest of the world 200 200 200 40 Indirect business taxes 80 Statistical discrepancy 30 Undistributed corporate profits 20 Social insurance taxes 80 Corporate profits taxes Transfer payments Personal taxes Net interest 30 50 80 20 Complete the following table by calculating GDP, NDP, national income, personal income, disposable income, and net exports. Item Dollar Amount (Billion Dollars) GDP NDP $ National income $ Personal income $ Disposable income Net exports If purchases of new capital goods are $90 billion, then purchases of new residential housing are equal to $ billion.
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National Income Accounts (dollar figures are in billions) Expenditures for consumer goods and services $8,200 Exports $1,700 Government purchases of goods and services $2,500 Social Security taxes $1,900 Net investment $1,400 Indirect business taxes $1,400 Imports $1,900 Gross investment $1,800 Corporate income taxes $600 Personal income taxes $1,500 Corporate retained earnings $130 Net foreign factor income $100 Government transfer payments to households $1600 Net interest payments to households $500 On the basis of Table 5.3, the value of the income aggregate that is defined as "the part of disposable income not spent on current consumption" (also known as savings) is Multiple Choice -$500 billion. $500 billion. $370 billion. $8,570 billion.
Page 551 5. Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in bilions. Compensation of employees $194.2 U.S. exports of goods and services 17.8 Consumption of fixed capital 11.8 Government purchases 59.4 Taxes on production and imports 14.4 Net private domestic investment 52.1 Transfer payments U.S. Imports of goods and services 13.9 16.5 Personal taxes 40.5 Net foreign factor income 2.2 Personal consumption expenditures 219.1 Statistical discrepancy
Consider the following national accounts data for Westeros: Westeros' National Accounts (2019) GDP Item (S billions) Corporate income 140 Еxports 50 Wages and salaries 550 Net international income to the rest of the 8 world Gross investment 160 Government purchases 184 Indirect taxes 75 Personal consumption 500 Imports 27 Depreciation 79 Proprietors' incomes and rents Which is the following is the income-based estimate of GDP for Westeros? 65 $909 billion $751 billion $558 billion $939 billion
Define net exports and net foreign factor income. What the the difference? How would net foreign factor income affect the national income compared to GDP?
docs.google.com a Problem 2 10. The table below provides Cocoland's national income accounting. Use this data to compute the GDP * Transfer Payments $ 54 $ 186 $ 36 $ 67 S 124 $ 274 $ 74 $ 75 $ 18 $ 12 $ 156 $ 304 Interest Income Depreciation Wages Gross Private Investment Business Profits Indirect Business Taxes Rental Income Net Exports Net Foreign Factor Income Government Purchases Household Consumption GDP= $206 GDP= $506 GDP $502 GDP = $602 11. Which of the following are not included in GDP statistics? * The value of goods and services
gross private domestic investment $1593 personal taxes 1113 transfer payments 1683 taxes on production & imports 695 corporate income taxes 213 personal consumption expenditures 7304 consumption of fixed capital 1393 US Exports 1059 dividends 434 government purchases 1973 net foreign factor 10 undistributed corporate profit 290 sociual security contributions 748 US imports 1483 statistical discrepency 50 Refer to the accompanying national income data (in billions of dollars) CORPORATE PROFITS are equal to?