Economics: Principles and Policy (MindTap Course List)
13th Edition
ISBN: 9781305280595
Author: William J. Baumol, Alan S. Blinder
Publisher: Cengage Learning
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Chapter 25.A, Problem 3DQ
To determine
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Gross Domestic Product - Depreciation =
A. Nominal GDP
B. Real GDP
C. Net Domestic Product
D. Per Capita GDP
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
Suppose that net national product in 2018 was $50
billion and depreciation was $15 billion. Gross national product in 2018 was:
$35 billion
-$35 billion
$65 billion
$55 billion
Chapter 25 Solutions
Economics: Principles and Policy (MindTap Course List)
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Similar questions
- If gross investment in 2017 is $200 billion and depreciation in 2017 is $1000 billion, net investment in 2017 is?arrow_forwardWhat term is used to describe the total value of all the goods and services produced in a country over a specific time period? A) Gross Domestic Product (GDP) B) Consumer Price Index (CPI) C) Balance of Trade D) Fiscal Deficitarrow_forwardI do not know which is which to add together to find National Income?arrow_forward
- Discuss the shortcomings of Gross National Product as an indicator of financial well-beingarrow_forwardYear I Year 6 Year 9 Government Spending 591 852 1500 Subsidies 61 75 100 Indirect Taxes 84 98 102 Property Income earned overseas 75 87 150 Property income paid overseas 95 100 200 Imports 169 256 158 Exports 109 120 200 Depreciation 69 75 95 Consumption 678 987 1200 Investment 274 378 1000 4. Net National Product: NNP = GNP at factor cost - Depreciation Year 1 Year 6 Year 9arrow_forwardIf the net national Product at market price is 320 billion and the net current transfer receipt from the rest of the world is 240 billion what would be the net national disposable income?arrow_forward
- When we add depreciation to net investment, we arrive at...............arrow_forwardI got the answer 621, but that was wrong so I’m not real sure where I derailed.arrow_forwardIn an economy:- Gross domestic capital formation = $70 million Depreciation = $35 million We have to calculate the value of net domestic capital formationarrow_forward
- Personal income and property taxes paid by individuals are not included in the income approach of gross domestic product calculationarrow_forwardSuppose, the GDP of a country is 50 million, net factor income from abroad is 20 million and depreciation charges are 10 million. Compute the net national product of the country. a. NNP = 70 million b. NNP = 80 million c. NNP = 60 million d. NNP = 50 millionarrow_forwardExplain the calculation methods of Gross Domestic Productarrow_forward
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