Using the following information: JAM$ million Subsidies 0 Gross national product at market prices 300 Imports 30 Net national product 275 Exports 30 Net national product at factor cost 260 Personal savings 15 Personal income 225 Government transfer payments 5 Undistributed corporate profits 20 Government expenditure on commodities 40 Personal consumption 160 Derive the following, showing all calculations: Personal disposable income a. Indirect taxes b. Net investment c. Depreciation d. Corporate income taxes e. Personal income taxes

Using the following information: JAM$ million Subsidies 0 Gross national product at market prices 300 Imports 30 Net national product 275 Exports 30 Net national product at factor cost 260 Personal savings 15 Personal income 225 Government transfer payments 5 Undistributed corporate profits 20 Government expenditure on commodities 40 Personal consumption 160 Derive the following, showing all calculations: Personal disposable income a. Indirect taxes b. Net investment c. Depreciation d. Corporate income taxes e. Personal income taxes

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter5: Gross Domestic Product

Section: Chapter Questions

Problem 13SQ

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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.
Question 1 Table 23-1 The following table contains data for Mindalion for the year 2019. GDP Income earned by citizens abroad Income foreigners earn here Losses from depreciation Indirect business taxes Statistical discrepancy Retained earnings Corporate income taxes Social insurance contributions Interest paid to households by government Transfer payments to households from government Personal taxes Nontax payments to government $200 $9 $7 $4 $10 $0 $8 C. $198. d. $200. $12 $30 $8 $55 $60 $11 Refer to Table 23-1. Disposable personal income for Mindalion in 2019 is a. $130. b. $201.
The table below shows the data for the country of Magnolia. Complete the national income accounting framework by filling in the missing data. Remember to enter a minus (-) sign to indicate negative values. Expenditures Consumption Gross investment Government spending Net exports Gross domestic product at market prices 100 Less depreciation Less indirect taxes (net of subsidies) Net domestic product at basic prices +/- net foreign factor income Net national product at basic prices 320 350 30 260 50 160 70 1100 220 100 -10 780 320 06 160 130
Personal Taxes $ 55 Social Security Contributions Taxes on Production and Imports Corporate Income Taxes 30 35 55 Transfer Payments 37 U.S. Exports Undistributed Corporate Profits Government Purchases Gross Private Domestic Investment U.S. Imports 39 50 105 90 37 Personal Consumption Expenditures 265 Consumption of Fixed Capital (depreciation) Net Foreign Factor Income 40 25 0 Statistical Discrepancy Refer to the accompanying data (all figures in billions of dollars). NDP is $402. $422. $370. $467.
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National income accounting for a certain country in the year for 2020 is given in Table 2. Based on the table, answer the following questions. Amount in $ (million) 180 8,120 3,800 1,320 4,230 12,000 10,120 12,100 8,000 3,120 3,240 Items Net factor income Consumption expenditure Public investments Import Export Government expenditure Wages Interest, rent and profit Indirect taxes Subsidies Depreciation a) By using expenditure approach, calculate Gross Domestic Product (GDP) at market price. b) By using income approach, calculate Gross Domestic Product 9GDP) at market price. c) Based on your understanding on Gross Domestic Product (GDP), explain why do you think that GDP Ís important, and what is the limitation of GDP?
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Newspapers Sold to Government Sold to Consumers Imported Ink Import taxes Paper Wages Depreciation Profit Paper Exported Wages Depreciation Profit Printing Presses Imported Steel Import taxes Paper Wages Depreciation Profit 24 69 15 3 28 17 5 25 46 8 14 7 25 43 9 2 10 13 4 5 Consumption Government Investment Exports Imports GDP Value Added Newspapers Paper Printing Presses Wages Depreciation Indirect Taxes Profit GDI
In the table below, you are given data for the country of Sequoia. Exports Consumption Gross investment Depreciation 188 520 152 88 Government spending Imports Net foreign factor income Indirect taxes a. The value of GDP at market prices is $ b. The value of NDP at basic prices is $ c. The value of net national product at basic prices (i.e. national income) $ EST
In the table below, you are given data for the country of Spruce. Net foreign factor income Gross mixed income Depreciation Compensation of Employees Indirect taxes (net of subsidies) Gross operating surplus Taxes less subsidies on production a. The value of GDI (at market prices) is $ b. The value of NDI (at basic prices) is $ c. The value of (net) national income is $ -32 144 166 530 111 275 48 1012 846 x
The table below shows the data for the country of Magnolia. Complete the national income accounting framework by filling in the missing data. Remember to enter a minus (-) sign to indicate negative values. 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 320 350 30 260 1100 100 50 160 70 220 -10 130 780 320 99 160
When products cannot be produced domestically, they are often produced internationally and shipped to various countries. The products sold in the U.S. that are made in other countries are called _____. domestic gross exports imports