Composition Consumption Billion of Dollars 4900 Investment 1300 Government expenditures Exports Imports Net foreign factor income 1200 1050 950 20 Based on table 1, the value of GDP is
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- Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category Amount (in billions) Wages and Salaries 1000Consumption 1700Investment 700Depreciation 50Government Expenditure100Taxes 300Exports 50Imports 40Income receipts from rest of the world10Income payment to rest of the world50 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?Use the following information to answer questions 5 through 15: The tables below show data on prices and quantities of Oranges and Shoes produced in China. Data for 2014Price of Oranges Quantity of Oranges Price of Shoes Quantity of Shoes0.7 200 10 270Data for 2015Price of Oranges Quantity of Oranges Price of Shoes Quantity of Shoes0.9 150 14 250Data for 2016Price of Oranges Quantity of Oranges Price of Shoes Quantity of Shoes1.4 300 15 3305. Given this data, what is the Nominal GDP in 2014?6. What is the Nominal GDP in…Microsoft Word - (2)p macro HW 1 B AaBbCc AaBbCAaBbCcDc AaBbCcDc 2 ulgi 1 ülaue blout Production Year 1 Good X 50 Good Y 100 Prices ear! $1.20 S0.60 Year 2 Year 3 Year 1 $1.00 S0.60 Year3 S1.20 50 60 140 120 1-Assume that this economy produces onlytwo goods Good Xand Good Y. The value for this economy's nominal GDP in year lis 2- Assume that this economy produces only two goods Good l'and Good Y The value for this economy'snominal GDP in year 3 is 3-Assume that this economy produces only two goods Good l'and Good Y The value for this economy s nominal GDP in yea 4-Assume that this econonmy produces onlyt 1 is the base year. the value for this economy sre land Good Y If year 5-Assume that this economy produces only two goods Good land Good Y If year 1 is the base vear. the value for this economy's GDP deflator in vear 1 is 6- Assume that this economy produces only two goods Good.I and Good Y If year 1 is the base year. the value for this economy's GDP deflator in year 2 is 7- Assume…According to Table 19.7, how often have recessions occurred since the end of World War II (1945)?
- e the information in the table to answer the folowing qustiona. Al numbers are in bilions of 2012 dolars Govermment Purchases (G) $2.00 $2.500 $2.500 $2.500 $2.500 Pianned investment ( $1.000 Net Exports (NK) Real GOP (Y) Consumption (C) $12.000 $13.000 $14,000 $15.000 $10.000 $9.500 $10.250 $1.000 -$500 -$500 -5500 -$500 -$500 $1.000 $1,000 S11,750 $1.000 $12.500 $1.000 The equibrum level of GOP is S bilion The MPC is (snter your reaponse to two decimal places) Suppose that net exporta increase by $200 blion. Using the multiplier formua, determine the new level of GOP. AS200 bilon increase in net exports leads to a change in spending of S bilion, so the new level of GDP wi be billonUse 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.Nimbus, Inc., makes brooms and then sells themdoor-to-door. Here is the relationship between thenumber of workers and Nimbus’s output during agiven day:Workers OutputMarginalProductTotalCostAverageTotalCostMarginalCost0 0 ____ ________ ____1 20 ____ ________ ____2 50 ____ ________ ____3 90 ____ ________ ____4 120 ____ ________ ____5 140 ____ ________ ____6 150 ____ ________ ____7 155 ____ ____a. Fill in the column of marginal products. Whatpattern do you see? How might you explain it?b. A worker costs $100 a day, and the firm has fixedcosts of $200. Use this information to fill in thecolumn for total cost.c. Fill in the column for average total cost. (Recallthat ATC T 5 C Q/ .) What pattern do you see?d. Now fill in the column for marginal cost.(Recall that MC TC 5 D ∆ / Q.) What patterndo you see?e. Compare the column for marginal productwith the column for marginal cost. Explain therelationship.f. Compare the column for average total costwith the column for marginal cost. Explain…
- 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?Time remaining: 01:59:30 Economics 1: Suppose the nation of Utopia has the following national income and product accounts.Depreciation 50Exports 65GDP 500Gross Private Domestic Investment 90Government Purchases of goods & services 100Government transfer payments 80Imports 75Income paid to foreigners for their contribution to domestic output 15Income received by citizens for factors of production supplied abroad 20a. What are Personal Consumption Expenditures?b. What is GNP?c. What is Net Private Domestic Investment? 2:Suppose I offer to give you $1000 in two years if you give me $900 today. Is this a good deal if . . a. the interest rate is 2%?b. the interest rate is 5%?c. the interest rate is 10%?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 $50 Questions:1. Using the data above, GDP is equal to __________________.2. Using the data above, Net Exports is equal to _____________.Refer to the diagram to answer the following: a. The movement from point A to point B represents: b. The movement from point B to point C represents: c. The movement from point A to point C represents Real GDP per hour Worked Y/L ($, 000) 1,000 900- 800- 700- 600- 500- 400 200- 100- Aggregate Production 0 ljuds 300-midifi E Tommyformemberit A 8 D 20 40 00 80 Capital per hour worked K/L (5,000) 100 O Q8 Do not Copy paste ans
