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 3TY
To determine
To calculate: The
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7
9
3. Consider the following table showing the breakdown of GDP (in billions) for China.
GDP Category
Wages and Salaries
Consumption
Investment
Depreciation
Government
Amount (in billions)
1000
1700
700
50
100
Expenditure
Тахes
300
Еxports
Imports
Income receipts from
rest of the world
Income payment to rest
50
40
10
50
of the world
What are net exports for China?
4. Suppose that GDP in Japan is 1030 and then grows to 1160 (all numbers in billions)
What is the growth rate of GDP in Japan?
Chapter 8 Solutions
Macroeconomics: Principles and Policy (MindTap Course List)
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- 9arrow_forward8. KEY QUESTION Below is a list of domestic output and na-tional income figures for a certain year. All figures are in billions. The questions that follow ask you to determine the major national income measures by both the expenditures and the income approaches. The results you obtain with the different methods should be the same. Personal consumption expenditures $245 Net foreign factor income 4 Transfer payments 12 Rents 14 Statistical discrepancy 8 Consumption of fixed capital (depreciation) 27 Social Security contributions 20 Interest 13 Proprietors’ income 33 Net exports 11 Dividends 16 Compensation of employees 223 Taxes on production and imports 18 Undistributed corporate profits 21 Personal taxes 26 Corporate income taxes 19 Corporate profits 56 Government purchases 72 Net private domestic investment 33Net private domestic investment 33 Personal saving 20a. Using the above data, determine GDP by both the ex-penditures and the income approaches. Then determine NDP. b. Now…arrow_forwardNeed help with this. Thanks!arrow_forward
- 8arrow_forwardv Question Completion Status: QUESTION 1 Refer to the table (all figures in billions of dollars). The gross domestic product (GDP) for this economy is #3 Items Amount (i) (1) Personal Taxes $40 (2) Social Security Contributions $15 (3) Taxes on Production and Imports $20 (4) Corporate Income Taxes $40 (5) Transfer Payments $22 (6) U.S. Exports $24 (7) Undistributed Corporate Profits $35 (8) Govemment Purchases 06$ (9) Gross Private Domestic Investment $75 (10) U.S. Imports $22 (11) Personal Consumption Expenditures $250 (12) Consumption of Fixed Capital $25 (13) Net Foreign Factor Income $10 (14) Statistical Discrepancy $0 O $390 O $402 O $417 O $422 O $492arrow_forwardProblem 1 Given the following table: $Billions 40 Depreciation Receipts of factor income from the rest of the world Government purchases Imports Payments of factor income to the rest of the world Net private domestic investment Personal income taxes 30 100 50 50 200 120 Personal consumption expenditures Dividends 600 20 Exports Amount of national income not going to households 60 20 Calculate: 1- GDP 2- GNP 3- NNP 4- National Income 5- Personal Income 6- Disposable Incomearrow_forward
- S2 Economics questionsarrow_forward4 (a Your task is to calculate the equilibrium National Income (Y) and the interest rate (i)based on the figures above: (6 points) Y == and i= 4 (b Describe how large the state's tax revenues are and calculate the state budget balance(Sb), further you should calculate country's current account (NX): (9 points) T = Sb= NX =arrow_forward1. Explain with your own words the definition of Gross Domestic Product. 2. How does the growth rate of real GDP contribute to an improved standard of living? 3. Use the following data to answer the question. The table lists some macroeconomic data for the United States in 2008. Item Billions of dollars Wages paid to labor 8,000Consumption expenditure 10,000Net operating surplus 3,200Investment 2,000Government expenditure 2,800Net exports –700Depreciation 1,800 3a) Calculate U.S. GDP in 2008.arrow_forward
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