Use the following to answer question 4-6. Table 1: Hypothetical National Income and Product Accounts Data Category Consumption (personal consumption expenditures) Investment (gross private domestic investment) Government consumption (government expenditures) Exports of goods and services Imports of goods and services Foreign income payments to domestic factors Domestic income payments to foreign factors Billions of dollars 500 200 200 50 150 20 10 Net unilateral transfers -10 Capital account balance -10

Use the following to answer question 4-6. Table 1: Hypothetical National Income and Product Accounts Data Category Consumption (personal consumption expenditures) Investment (gross private domestic investment) Government consumption (government expenditures) Exports of goods and services Imports of goods and services Foreign income payments to domestic factors Domestic income payments to foreign factors Billions of dollars 500 200 200 50 150 20 10 Net unilateral transfers -10 Capital account balance -10

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The following are the National Income Account data of the Philippines (figures are in Billions of Pesos). 17 Merchandise Imports Personal Consumption Expenditure Net Factor Income from Abroad Capital Consumption allowance Merchandise Exports Transfer Payments 217 7 15 19 32 Net Private Domestic Investment 8 Indirect Business Taxes 39 Personal Taxes 4 Social Insurance Contributions 10 Undistributed Corporate Profits Dividends 15 Government Expenditure 51 Corporate Income Tax 11 Calculate the Gross private domestic investment. Calculate the Net exports. Calculate the Gross Domestic Product. Calculate the Corporate profits.
[The following scenario applies to the next two questions.] The national income accounts for 20XX are Income on Capital Owned by U.S. Residents but Located Abroad Labor Income of U.S. Residents Working Abroad Payments to Capital in the U.S. Owned by Foreigners Payment to Foreigners Working in the U.S. Depreciation of capital stock Corporate profits, taxes on production, business transfers, and net interest Personal transfer payments and personal income receipts on assets Personal taxes Disposable personal income is 389.41. The national accounts have no statistical discrepancies. Question 1.38: Net national product (NNP) What is net national product (national income)? A. 492.04 B. 586.87 C. 614.99 D. 709.82 E. 737.94 Question 1.39: Gross Domestic Product What is Gross Domestic Product? A. 433.79 B. 550.29 C. 556.74 D. 679.69 E. 796.19 91.90 99.57 70.74 62.48 122.95 191.34 177.28 211.52
Referto the information provided in Table below to answer the questions that Billions Receipts of factor income from the rest of the world 20 Depreciation Government purchases Imports Payments of factor income to the rest of the world 30 90 40 40 150 90 500 Net private domestic investment Personal taxes Personal consumption expenditures Dividends Exports Amount of national income not going to 10 60 30 households 1- The value for GDP in billions of dollars 2- The value for GNP in billions of dollars 3- The value for NNP in billions of dollars 4- The value for national income in billions of dollars 5- The value for disposable personal income in billions of dollars
1. Given the following national income and product accounts data, compute I, NX, NI, PI, DI, NNP, GNP, and GDP Depreciation Amount of national income not going to households Compensation of employees Corporate profits Dividends Exports Government consumption and gross investment Imports Indirect taxes minus subsidies Net business transfer payments Net interest Net private domestic investment Personal consumption expenditures Receipts of factor income from the rest of the world Personal income taxes Proprietors' income Payments of factor income to the rest of the world Rental income Statistical discrepancy Surplus of government enterprises 3. 12,532 2005 489.4 2006 505.7 12,746 2007 526.7 13,011 2008 553.0 13,275 2009 565.8 13,503 2010 563.1 2011 553.5 13,757 1,215 The following table provides information about Canadian economy for a seven-year period, given 2006 is the base year. Year Real GDP Labor force Unemployed Employed Unemployment Population (Billions) (Thousands) (Thousands)…
Referring to the table below, fill in the missing data for the country of Birchwood. Expenditures Consumption Gross investment Government spending Net exports Gross domestic product at market prices Less depreciation Less indirect taxes (net of subsidies) Net domestic product at basic prices +/-Net foreign factor income Net national product at basic prices 370 115 190 90 40 60 -45 Incomes Compensation of employees Gross operating surplus Gross mixed income Taxes less subsidies on production Indirect taxes (net of subsidies) Gross domestic income at market prices Less depreciation Less indirect taxes (net of subsidies) Net domestic income at basic prices +/-Net foreign factor income (Net) national income Add transfer payments. Less undistributed profit Less corporate profit tax Less other income items i Personal income Less personal income taxes Disposable income Savings Consumption 470 86858 90 50 60 370 40 60 -45 130 40 40 30 210 27
Referring to the table below, fill in the missing data for the country of Birchwood. Expenditures Consumption Gross investment Government spending Net exports Gross domestic product at market prices Less depreciation Less indirect taxes (net of subsidies) Net domestic product at basic prices +/- Net foreign factor income Net national product at basic prices 370 115 190 90 40 60 -45 Search Compensation of employees Gross operating surplus Gross mixed income Taxes less subsidies on production Indirect taxes (net of subsidies) Gross domestic income at market prices Incomes Less depreciation Less indirect taxes (net of subsidies) Net domestic income at basic prices +/- Net foreign factor income (Net) national income Add transfer payments Less undistributed profit Less corporate profit tax Less other income items Personal income Less personal income taxes Disposable income Savings Consumption 7 of 14 Next > 370 -45 130 40 40 30 210 470 90 50 60 40 60
The following table presents 2015 data from the national-income accounts of the United States. Indicate the various expenditures used to determine GDP under the expenditure approach. Then indicate the various income payments and indirect costs used to determine GDP under the resource cost-income approach. Component Personal Consumption Employee Compensation Rents Gov't Consumption & Investment Imports Depreciation Corporate Profits Interest Income Exports Gross Private Investment Indirect Business Taxes Self-Employment Income Net Income of Foreigners Billions of Dollars Expenditure approach Resource cost-income approach 12,269.1 9,655.3 656.6 3,183.0 2,782.9 2,582.6 2,048.0 Using the expenditure approach, GDP is 525.1 2,325.60 3,021.1 1,302.8 1,388.5 -143.00 Using the resource cost-income approach, GDP is $ kkkkkkk P
The following figures are from data on Good Island Economy Items $m Net private investment 940 Depreciation 56 Compensation of employees 2 256 Corporate taxes 416 Personal taxes 756 Personal Consumption expenditure 4 386 Government purchases 3 182 Indirect business taxes minus subsidies 482 Payment of factor income to the rest of the world 95 Corporate profits minus dividends 56 Government transfer payments and interest 243 Exports 855 Receipts of factor income from abroad 186 Imports of goods and services 385 Social insurance payments 332 Required: Use the above information to answer the following i.) Calculate for Good Island: Gross private investment Gross Domestic product Gross National Product Net National Product National income Personal Income Disposable Personal Income
Using the method introduced in the video calculate Net National Product. Show answer choices $6,565 $6,665 $6,765 $6,865\table[[ Dollar Values], [Durable Goods, $150 Durable Goods Services Consumption Depreciation Investment Government Purchase Exports Income Receipts from the rest of the world Nondurable Goods Net Exports Income payments to the rest of the world Dollar Values $150 $900 $1,300 $250 $3,150 $2,800 $2,000 $35 $250 -$350 $20
Given the following information: Millions $ Import of goods and services 298.00 Gross Investment 50.80 Subsidies 16.50 Gross domestic product at market prices 1,660.70 Export of goods and services 270.30 Income payments to foreigners 19.20 Government consumption expenditure 500.10 Indirect taxes 290.50 Factor payments from abroad 8.90 Capital consumption allowance 12.00 Derive the following showing all calculations: i) National Income ii) Net Investment iii) The size of the Balance of Payments surplus or deficit
If you have the following data that representing an economy of a country as follow: transfer payments Indirect taxes 355 315 Wages social security deductions personal taxes (direct taxes ) Imports 2335 125 410 350 Rent 250 income of foreigners inside Jordan Exports retained (undistributed) profit 450 145 70 Interest Depreciations transfer payments 360 50 355 income of the Jordanian from abroad 300 Gross private investment expenditures 750 corporate taxes 275 Government expenditures 740 Profit 475 According to the above information answer the following questions: 1. find the following values related to GDP accounts : • Gross domestic product (GDP) according expenditure approach
The following table gives categories for income and expenditures for a representative country: Net exports of goods and services Net interest paid by business Government purchases of goods and services Gross private domestic investment Taxes unrelated to incomes net of subsidies - 600 480 1,800 2,400 480 Rental income of individuals plus implicit rent on owner-occupied housing Wages, salaries, employee compensation Personal consumption expenses Depreciation Proprietorial income Corporate profits 240 7,200 8,400 960 1,200 1,440 Use the data in the table to calculate Gross Domestic Income (GDI) for this country. GDI is equal to $