Category Billions Compensation of employees U.S. exports of goods and services Consumption of fixed capital Government purchases Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services $205.2 18.8 11.8 59.4 14.4 52.1 13.9 16.5 Personal taxes 40.5 Net foreign factor income Personal consumption expenditures Statistical discrepancy 2.2 229.1 0.0 Instructions: Round your answers to 1 decimal place. a. GDP = $ | billion p. NDP = $ billion %3!

Category Billions Compensation of employees U.S. exports of goods and services Consumption of fixed capital Government purchases Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services $205.2 18.8 11.8 59.4 14.4 52.1 13.9 16.5 Personal taxes 40.5 Net foreign factor income Personal consumption expenditures Statistical discrepancy 2.2 229.1 0.0 Instructions: Round your answers to 1 decimal place. a. GDP = $ | billion p. NDP = $ billion %3!

Survey of Economics (MindTap Course List)

9th Edition

ISBN:9781305260948

Author:Irvin B. Tucker

Publisher:Irvin B. Tucker

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 13SQ

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Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Billions Compensation of employees U.S. exports of goods and services Consumption of fixed capital Government purchases $226.2 19.8 11.8 59.4 Taxes on production and imports 14.4 Net private domestic investment Transfer payments U.S. imports of goods and services 52.1 13.9 16.5 Personal taxes 40.5 Net foreign factor income Personal consumption expenditures Statistical discrepancy 2.2 249.1 0.0 Instructions: Round your answers to 1 decimal place. a. GDP = $ billion b. NDP = $ billion c. NI = $ billion
What will happen to the net exports of Mexico when there is an increase in income in the United States? Ⓒ Net exports will increase because exports will increase. Net exports will decrease because exports will decrease. ONet exports will decrease because imports decrease. Net exports will increase because imports increase.
National Income DeterminationThe following figures are from data on Good Island EconomyItems $mNet private investment 940Depreciation 56Compensation of employees 2 256Corporate taxes 416Personal taxes 756Personal Consumption expenditure 4 386Government purchases 3 182Indirect business taxes minus subsidies 482Payment of factor income to the rest of the world 95Corporate profits minus dividends 56Government transfer payments and interest 243Exports 855Receipts of factor income from abroad 186Imports of goods and services 385Social insurance payments 332 Required: Use the above information to answer the followingi.) Calculate for Good Island:a. Gross private investment b. Gross Domestic product c. Gross National Product d. Net National Product e. National income f. Personal Income g. Disposable Personal Income
Consumption $500Government Expenditures $200GNP $800Gross Private Domestic Investment $100Imports $100Exports $50 Questions:1. Using the data above, GDP is equal to __________________.2. Using the data above, Net Exports is equal to _____________.
Exports and Imports 800 700 600- 500- 400 300 1 200 100 1970 1980 1990 Year Exports Imports 2000 Figure 5.3 Exports and Imports in the Country of Macroland According to the economy in Figure 5.3, net exports Did not impact GDP from 1990 to 2000 because exports were greater than imports. Were a negative number from 1970 to 1985. Made a positive contribution to GDP from 1970 to 1985. O Were a negative number from 1990 to 2000.
The table below shows national income and imports. The level of exports is fixed at $350. All figures are in millions of dollars. Imports (IM) Net Exports (NX) 290 a 330 b 370 410 Income (Y) 1,800 3,300 4,800 6,300 On a graph of the net export function for this economy, at what level of Y would the NX function intersect the horizontal axis? A. at $0 B. at $4,050 C. at $4,800 D. at $1,800 E. at $6,300 с d
7.Q Below is a list of domestic output and national income figures for a given year. All figures a billions. The questions that follow ask you to determine the major national income meast both the expenditure and income methods. Provide how you calculated! Personal consumption expenditures Net foreign factor income Statistical discrepancy Consumption of fixed capital (depreciation) Imports Еxports Personal taxes $243 4 27 43 33 26 Government purchases Net private domestic investment Personal saving a. Gross private domestic investment (Ig) is = $ 72 33 20 b. Net Exports (Xn) is: $ c. GDP by the expenditure approach =C+ Ig + G+ Xn= $ d. NDP: $_ e. NI by making the required additions and subtractions from GDP is: $
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
Expenditure Approach Table 3 Items RM Million Subsidies 4,500 Factor Payments Received from abroad 10,000 Manufacturing 7,000 Public Investment 50,000 Exports 77,000 Consumption Expenditure 15,500 Private Investment 14,000 Imports 75,000 Depreciation 5,000 Increase in Inventory 400 Tax on Expenditure 1,500 Factor Payments Paid Abroad 12,000 Calculate using the above data: NI What is the difference between personal income and national income?
Search 1 X Chap7 Hw (1).docx Format Tools Help a Assignments - Principles of M No Spacing 2 W S # 3 BIU A. A. E Consider the following national income accounting data for an economy in a recent year. All figures are in billions of dollars. Personal Taxes Social Security Contributions Rents Taxes on Production & Imports Corporate Income Taxes Interest Proprietor's Income. Transfer Payments Dividends e X Compensation of Employees Net Exports Undistributed Corporate Profits Government Purchases Net Private Domestic Investment Econ 2105 Chap7 Fw 111.docx x + /bomcoldodma figpchkicefolgmifalc/views/app.html Imports Personal Consumption Expenditures Consumption of Fixed Capital (Depreciation) Net Foreign Factor Income Corporate Profits Statistical Discrepancy d C $ 4 r With the above data, follow Tables 7.3, 7.4, and 7.5 in the textbook for guidelines and acceptable steps to calculate: (a) Gross Domestic Product (GDP) by both the expenditures and the income approaches. EXTI Th % 5 t g Oll 6…
Use the following composition of expenditure for the economy of a country named the Republic of Tapuwa, for the year ended 2019 to answer the questions below:COMPONENTR millionsConsumption expenditure (C) Investment (I)Government spending (G) Exports (X)Imports (Z)DepreciationForeign payment to the rest of the worldForeign payment from the rest of the worldShow all calculations and formulae.9 000 6 500 7 000 1 800 2 400 700 300250 Compute the value for the country’s GDP (Gross Domestic Product) at market price. Determine the value of the country’s NNI (Net National Income) at market price.If it is predicted that the GDP will increase to 22 000 in 2020, calculate the growth rate between 2019 and 2020.Q.7.2.5The measure of GDP for economic growth is not always perfect. Describe any two problems that are associated with GDP as a measure of economic growth.
rerer to the information provided in table 4 below to answer the question(s) that follow. Table 4 $Billions 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 20 40 150 50 40 160 80 Personal consumption expenditures Dividends 700 10 Exports Amount of national income not going to households 70 30 Referring to table 4, calculate a. The values for GDP, GNP, and NNP. b. The values for national income, personal income, and disposable personal income.