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Using the data, provide estimates of the following key National Accounting Aggregates a. Gross Savings b. Net Lending/ Borrowing show working formula and steps

Using the data, provide estimates of the following key National Accounting Aggregates a. Gross Savings b. Net Lending/ Borrowing show working formula and steps

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Using the data, provide estimates of the following key National Accounting Aggregates

a. Gross Savings
b. Net Lending/ Borrowing

show working formula and steps

Mini Industry Quantity of Sweet Potatoes sold Value per lb. of Sweet Potatoes Value of Eddoes sold Purchase of fertilizers Purchase of coals Subsidies Opening Stock Profits Indirect Tax Consumption of fixed capital Manufacturing Industry Value of Drinks sold Purchase of Sugar Tax on production Imports Salaries Other Data Export of: Sweet Potatoes Eddoes Drinks Household Consumption Dasheen Eddoes Drinks Investment 12,000 $6 $30,000 $800 $5,000 $1,500 $300 $1,000 $700 $1,000 $150,000 $2,000 $300 $4,000 $50,000 $18,000 $6,000 $10,000 $2,000 $1,000 $6,000 $7,000
Transcribed Image Text:Mini Industry Quantity of Sweet Potatoes sold Value per lb. of Sweet Potatoes Value of Eddoes sold Purchase of fertilizers Purchase of coals Subsidies Opening Stock Profits Indirect Tax Consumption of fixed capital Manufacturing Industry Value of Drinks sold Purchase of Sugar Tax on production Imports Salaries Other Data Export of: Sweet Potatoes Eddoes Drinks Household Consumption Dasheen Eddoes Drinks Investment 12,000 $6 $30,000 $800 $5,000 $1,500 $300 $1,000 $700 $1,000 $150,000 $2,000 $300 $4,000 $50,000 $18,000 $6,000 $10,000 $2,000 $1,000 $6,000 $7,000
Expert Solution
Step 1

In National Income Accounting from Expenditure Method -

National Income : GDP = C + I + ( G - T )  + NX 

Where , 

C : Consumption  , I : Investment , G : Government Expenditure  , T : Taxes  , NX : Net exports 

 

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