Only typed answer and please answer correctly pokt7cesThe table below shows the values for several different components of GDP.Billions ofDollars$ 295415123261411301210273202528225764433025Personal consumption expendituresNet foreign factor incomeTransfer paymentsRents.CategoryConsumption of fixed capital (depreciation)Statistical discrepancySocial Security contributionsInterestProprietor's incomeNet exportsDividendsCompensation of employeesTaxes on production and importsUndistributed corporate profitsPersonal taxesCorporate income taxesCorporate profitsGovernment purchasesNet private domestic investmentPersonal savingImportsInstructions: Enter your answers as whole number.a. What is the value of exports?billionb. What is the value of national income?billion

Exports refer to goods and services, or commodities produced within a country's Domestic border and…

Answered: Instructions: Enter your answers as…

Instructions: Enter your answers as whole nu a. What is the value of exports? $ b. What is the value of national income? billion billion

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 25CTQ: Cross country comparisons of GDP per capita typically use purchasing power parity equivalent...

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Question

Only typed answer and please answer correctly

pok
t
7
ces
The table below shows the values for several different components of GDP.
Billions of
Dollars
$ 295
4
15
12
32
6
14
11
30
12
10
273
20
25
28
22
57
64
43
30
25
Personal consumption expenditures
Net foreign factor income
Transfer payments
Rents.
Category
Consumption of fixed capital (depreciation)
Statistical discrepancy
Social Security contributions
Interest
Proprietor's income
Net exports
Dividends
Compensation of employees
Taxes on production and imports
Undistributed corporate profits
Personal taxes
Corporate income taxes
Corporate profits
Government purchases
Net private domestic investment
Personal saving
Imports
Instructions: Enter your answers as whole number.
a. What is the value of exports?
billion
b. What is the value of national income?
billion

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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…
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 billon