Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Question
Chapter 21, Problem 3SPPA
To determine
National Domestic income at factor cost, the statistical discrepancy and GNP.
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Students have asked these similar questions
Total consumer expenditure 400,000
Government spending 148,000
Gross domestic capital formation 160,000
Value of physical income in stock 8,000
Export of goods. 72,000
Import of goods 68,520
Subsidies 5,560
Taxes on expenditure 6,960
Capital consumption 22,000
Income from abroad 51,600
Income paid abroad 29,600
From the following data country X, you are required to calculate:
1. GDP at factor cost
2. GNP at factor cost
3. NNP
Problem
Using the following national income accounting data, calculate GDP in this country
Homework
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions.
Category
Compensation of employees.
U.S. exports of goods and services
Billions
$194.2
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
13.9
U.S. imports of goods and services
16.5
Personal taxes
40.5
Net foreign factor income
2.2
Personal consumption expenditures
Statistical discrepancy
Instructions: Round your answers to 1 decimal place.
a. GDP $
219.1
0.0
billion
b. NDP = $
billion
c. NI = $
billion
Chapter 21 Solutions
Foundations of Economics (8th Edition)
Ch. 21.A - Prob. 1SPPCh. 21.A - Prob. 2SPPCh. 21.A - Prob. 3SPPCh. 21.A - Prob. 4SPPCh. 21.A - Prob. 5SPPCh. 21.A - Prob. 6SPPCh. 21.A - Prob. 7SPPCh. 21.A - Prob. 1IAPCh. 21.A - Prob. 2IAPCh. 21.A - Prob. 3IAP
Ch. 21.A - Prob. 4IAPCh. 21.A - Prob. 5IAPCh. 21.A - Prob. 6IAPCh. 21.A - Prob. 7IAPCh. 21 - Prob. 1SPPACh. 21 - Prob. 2SPPACh. 21 - Prob. 3SPPACh. 21 - Prob. 4SPPACh. 21 - Prob. 5SPPACh. 21 - Prob. 6SPPACh. 21 - Prob. 7SPPACh. 21 - Prob. 8SPPACh. 21 - Prob. 9SPPACh. 21 - Prob. 10SPPACh. 21 - Prob. 1IAPACh. 21 - Prob. 2IAPACh. 21 - Prob. 3IAPACh. 21 - Prob. 4IAPACh. 21 - Prob. 5IAPACh. 21 - Prob. 6IAPACh. 21 - Prob. 7IAPACh. 21 - Prob. 8IAPACh. 21 - Prob. 9IAPACh. 21 - Prob. 10IAPACh. 21 - Prob. 11IAPACh. 21 - Prob. 12IAPACh. 21 - Prob. 1MCQCh. 21 - Prob. 2MCQCh. 21 - Prob. 3MCQCh. 21 - Prob. 4MCQCh. 21 - Prob. 5MCQCh. 21 - Prob. 6MCQCh. 21 - Prob. 7MCQ
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