Macroeconomics: Principles and Policy (MindTap Course List)
13th Edition
ISBN: 9781305280601
Author: William J. Baumol, Alan S. Blinder
Publisher: Cengage Learning
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Chapter 8.A, Problem 3DQ
To determine
To describe: The importance of
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What is the value for Gross Domestic Product if households receive $315 in net interest income, wages equal $10,169, rental receipts on land are $884, total business profits before taxes are $1,862, and indirect business taxes are $1,139? Assume depreciation and net foreign income are zero. Enter the value without a $ and without commas.
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Sold to Government
Sold to Consumers
Imported Ink
Import taxes
Paper
Wages
Depreciation
Profit
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Exported
Wages
Depreciation
Profit
Printing Presses
Imported Steel
Import taxes
Paper
Wages
Depreciation
Profit
24
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15
3
28
17
5
25
46
8
14
7
25
43
9
2
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13
4
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Consumption
Government
Investment
Exports
Imports
GDP
Value Added
Newspapers
Paper
Printing Presses
Wages
Depreciation
Indirect Taxes
Profit
GDI
Find the value of gross national product at factor cost if gross national product at Market price is $1400 million and the net indirect taxes is $42 million
Chapter 8 Solutions
Macroeconomics: Principles and Policy (MindTap Course List)
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- 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 billionarrow_forwardUsing the following information Personal Consumption Expenditure = 1375 Indirect Business Tax = 180 Undistributed Profits = 80 Corporate income Tax = 202 Personal Savings = 68 Depreciation = 173 Transfer Payments to household sector = 228 Personal tax Payments = 203 Find a) Gross National product at market price b) Net National Product at market prices c) National Income d) Personal Income e) Personal Disposable Incomearrow_forwardIf gross investment in 2017 is $200 billion and depreciation in 2017 is $1000 billion, net investment in 2017 is?arrow_forward
- What 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_forwardDiscuss the shortcomings of Gross National Product as an indicator of financial well-beingarrow_forward
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