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- The following data relate to an emerging African country.Item Value('000) KSHSGNP 8,000,000 Depreciation 100,000Indirect Business Taxes 80,000Gross Investment 400,000Total population 30,000Consumption 10,000Personal Income Taxes 800Excise duty 80Personal Income 89,000Net factor incomes from abroad 200,000 Using the above data, calculate: Net National Product and GNP per capita Net investment and Disposable personal income Gross domestic productUse the following composition of expenditure for the economy of a countrynamed the Republic of Tapuwa, for the year ended 2019 to answer thequestions below: COMPONENT R millions Consumption expenditure (C) 9 000 Investment (I) 6 500 Government spending (G) 7 000 Exports (X) 1 800 Imports (Z) 2 400 Depreciation 700 Foreign payment to the rest of theworld 300 Foreign payment from the rest of the world 250 Q1. Calculate the value of the country’s GDE (Gross DomesticExpenditure). Q2. Compute the value for the country’s GDP (Gross Domestic Product)at market price.Assume there are only two producing sector Y & Z in an economy. Calculatea) Gross value added at market price by each sector b) National income from the followings:Items Amount in CroresNet factor income from abroad- 20Sales by Y= 1000Sales by Z= 2000Change in stock of Z= -200C Closingstock of Y= 50 Opening stock of Y= 100Consumption of fixed capital by Y & Z= 180Indirect taxes paid by Y & Z= 120Purchase of raw material by Y= 500Purchase of raw material by Z= 600Exports by Z= 70
- Spring20 fall20 Which of the following expressions equals GDP? Select one: a. compensation of employees + gross investment + rental income + depreciation + corporate profits + indirect taxes-subsidies b. compensation of employees + consumption + depreciation + net investment O C. compensation of employees + net expdsts + depreciation + corporate profits d. compensation of employees + net interest + rental income + depreciation + corporate profits + proprietors' income + indirect taxes - subsidies Next pageln a hypothetical country, consumption was $3100, exports were 5400, GDP was 55000, imports were 5500, and investment was 51400. What were this country's government purchases? a)$160 b)$1200 c) $500 d)$5000Cross country comparisons of GDP per capita typically use purchasing power parity equivalent exchange rates, which are a measure of the long run equilibrium value of an exchange rate. In fact, we used PPP equivalent exchange rates in this module. Why could using market exchange rates, which sometimes change dramatically in a short period of time, be misleading?
- Newspapers Sold to Government Sold to Consumers Imported Ink Import taxes Paper Wages Depreciation Profit Paper Exported Wages Depreciation Profit Printing Presses Imported Steel Import taxes Paper Wages Depreciation Profit 24 69 15 3 28 17 5 25 46 8 14 7 25 43 9 2 10 13 4 5 Consumption Government Investment Exports Imports GDP Value Added Newspapers Paper Printing Presses Wages Depreciation Indirect Taxes Profit GDIWhich COMPONENTS (IF ANY) of U.S. GDP (consumption C, investment I, government spending G, and/or net exports NX) THIS YEAR would be affected and HOW (INCREASE OR DECREASE) if: (a) you buy an OLD house in Coral Gables and start living in it (b) Jackson Memorial Hospital buys a new MRI scanner produced in Germany (c) Whirlpool produces some kitchen appliances but does not manage to sell them this year (d) you cook yourself a dinner (ignore the cost of all ingredients and the increase in your utility bill)Principles of Macroeconomics "T1301102" Student name: First Exam- PART2, 13/0372021 St # Question (20 points) Refer to the table below, answer the questions that follow: Personal consumption expenditures Government purchases- Net private domestic investment Exports Imports Depreciation Receipts of factor income from the rest of the world Payments of factor income to the rest of the world 600 100 200 50 -60 40 30 50 1 The value for GDP is 2. The value for GNPIS 3. The value for NNP is 4. The value of NI is (30 points) Question 2 A- Discuss therelationship between ourput, unemployment, & inflation.
- Problem 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 IncomeNational 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 IncomeThe following transactions took place in Ecoland in 2018: Trillions of 2014 dollars Government purchases 400 Taxes 360 Firms’ profits 300 Investment 400 Consumption expenditure 1000 Wages paid to labor 1400 Exports 300 Government transfer payments 150 Imports 350 (a). Calculate Ecoland’s real GDP in 2018, i.e., GDP measured in 2014 $. (b) How much do households save in Ecoland? Is it enough to finance domestic investment? (c) Does the government have a balanced budget? If not, what is the surplus or deficit? (d) If Ecoland’s nominal GDP in 2018 is $1900 trillion, how much inflation has Ecoland experienced since 2014?