I need the answer as soon as possible 2. Saving and investment in the national income accountsThe following table contains data for a hypothetical closed economy that uses the dollar as itscurrency.Suppose GDP in this country is $1,330 million. Enter the amount for government purchases.ValueNational Income Account(Millions of dollars)Government Purchases (GG)Taxes minus Transfer Payments (TT) 455Consumption (CC)700Investment (I)280Complete the following table by using national income accounting identities to calculatenational saving. In your calculations, use data from the preceding table.National Saving (S)National Saving (S) = =millionComplete the following table by using national income accounting identities to calculateprivate and public saving. In your calculations, use data from the initial table.Private SavingPrivate Saving = === millionPublic SavingPubllic Saving= = millionBased on your calculations, the government is runninga budget

GDP refers that gross domestic product which shows the production of goods and services , In closed…

Answered: Complete the following table by using…

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter4: The Aggregate Economy

Section: Chapter Questions

Problem 8E

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What are the main components of measuring GDP with what is demanded?
1. The following table shows the National Income data for a country in a year 2019 Items RM billion Public consumption expenditures 71 Personal consumption 11 Public investment 3 Personal investment 5 Change in stock 14 Factor income received from 3 abroad Factor income paid abroad 2 Net export 13 Indirect taxes 2 EPF 3 Subsidies 1 SOCSO 1 Transfer payment 8 Income tax 2 Retained earning 1 Insurance premium 1 Based on the table above, calculate :- a. Gross Domestic Product at market price (GDP mp) b. Gross National Product at market price (GNPmp) c. Gross National Product (GNP fc) at factor cost d. National Income e. Personal income f. Disposable personal income
What is the relative importance of consumption spending (C) in aggreagte demand and some factors that affect it? What is the relative importance of investment spending (I) in aggreagte demand and some factors that affect it? What is the relative importance of government spending (G) in aggreagte demand and some factors that affect it? What is the relative importance of Net Export (NX) (Net Export = spending on exports (X) - imports (M)) in aggreagte demand and some factors that affect it?
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: $
1. Calculate the disposable income from the following table: Flows in the economy of Classica $10 trillion $10 trillion $7 trillion $1 trillion $2 trillion Total Output (GDP) Total Income Consumption Spending (C) Private Investment (I) Government Purchases (G) Net Taxes (T) Household Savings (S) $1.25 trillion S1.75 trillion
How do budget surpluses and budget deficits affect the consumption and investment components of GDP
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?
Suppose GDP in this country is $1,540 million. Enter the amount for government purchases. National Income Account Value (Millions of dollars) Government Purchases (GG) Taxes minus Transfer Payments (TT) 455 Consumption (CC) 700 Investment (II) 490 Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private SavingPrivate Saving = = (t-g, y-t-i, c-t,y-c-t) = = million Public SavingPublic Saving = = (t-g, y-t-i, c-t, y-c-t) = = million Based on your calculations, the government is running a budget (surplus, deficit) .
Real GDP $0 10 40 70 100 130 160 Consumption Gross (after taxes) Investment Net Exports $10 $+5 10 +5 10 +5 10 +5 10 +5 10 +5 10 +5 -$20 0 20 40 60 80 100 O Refer to the table. A decrease in government purchases of $5 would Multiple Choice decrease real GDP by $5. decrease real GDP by $15. increase real GDP by $5. Government Purchases $15 15 15 15 15 15 15 increase real GDP by $10.
Use the table below to calculate disposable personal income. Disposable personal income equals: dollars in billions 30 dollars Exports Imports Gross investment Net foreign factor income Social security taxes Personal taxes Indirect business taxes in billions 49 69 100 190 550 65 Net non-business interest income Corporate retain ed carnings Net interest 20 200 Government transfer payments Govermment purchases Personal consumption Depreciation 37 92 44 10 Select one: O A. $776 billion O B. $693 billion O C. $773 billion O D. $717 billion
2. Saving and investment in the national income accounts The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $1,800 million. Enter the amount for government purchases. National Income Account Value (Millions of dollars) Government Purchases (G�) Taxes minus Transfer Payments (T�) 585 Consumption (C�) 675 Investment (I�) 675 Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S)National Saving (�) = = G - TG - T = = I� million Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private SavingPrivate Saving = = = = million Public SavingPublic…
5. The Planning Institute of Jamaica (PIOJ) collected the following data over a one-year period: $ Billions ITEMS Consumers' expenditure Government Investment expenditure 135.5 49.6 70 Exports Indirect Taxes 37.4 Net Property Income from abroad 25.6 Subsidies 5.2 Imports Transfer Payments 68.7 39 Dividend 22.5 Capital Consumption 17.8 Social Security contribution Undistributed corporate profits 14 21 2 Personal taxes 10.5 Government purchases 122.8 Value of increase in stock 6.7 Calculate ) GDP at market prices (i) GDP at factor cost (i) NDP at market price (iv) GNP at factor cost () NI at market price (v) NNP at factor cost (vu) PI (v) DI

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