The G and T components in the national-income accounts measure purchases and net taxes collected by a) all levels of government. Ob) only provincial governments. Oc) only local governments. Od) only the federal government. Oe) only provincial governments and the federal government.
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- The tables show the spending and revenue for Littleland in 2010. Use the tables and other information to answer the questions Spending category education welfare and Social Security health care defense payments on debt other Value (millions) $320 $890 $270 $120 $170* $%240 Revenue categoryValue (millions) ncome tax sales tax corporate tax social insurance $800 $270 $300 $340 GDP in 2010: $7.3 billion Total debt as of 2009: S3.5 billior *This payment covers total interest owed only How much money in millions did Littleland need to borrow in 2010 to finance its government spending? What was Littleland's deficit to GDP ratio in 2010? Give your answer to the nearest whole percentage point. At the end of 2010, what was Littleland's debt to GDP ratio? Give your answer to the nearest whole percentage point.(a) Explain the difference between government spending and the government Purchases of goods and services . Which is larger? (b) Explain why national income and gross domestic product would be essentially equal if there were no deprecation.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 Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services $ 224.2 17.8 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 2.2 249.1 0.0 Instructions: Round your answers to 1 decimal place. a. GDP = $ 373.7 billion in b. NDP = $ 376.3 billion c. NI = $ 378.5 billion
- The following table shows the national income data for an economy in year 2020. ITEMS Dividends Interest on government loan Undistributed profit Gross interest Subsidies Corporate income taxes interest on consumer loan Indirect taxes Gross Domestic Product at factor cost Depreciation Wages and salaries Rent Corporate income before taxes You are required to calculate: (a) net interest. (b) corporate profit. (c) National Income. (d) Gross National Product at factor cost. Net factor income from abroad. RM (Million) 160 100 125 990 120 180 90 160 4,370 250 1,080 645 710Search 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…In national income accounting, government purchases include: purchases by the Federal government only. purchases by Federal, state, and local governments . government transfer payments. O purchases of goods for consumption, but not public capital goods.
- The table below shows the data for the country of Magnolia. Complete the national income accounting framework by filling in the missing data. Remember to enter a minus (-) sign to indicate negative values. Expenditures Consumption Gross investment Government spending Net exports Gross domestic product at market prices 100 Less depreciation Less indirect taxes (net of subsidies) Net domestic product at basic prices +/- net foreign factor income Net national product at basic prices 320 350 30 260 50 160 70 1100 220 100 -10 780 320 06 160 130Net taxes are taxes paid minus O A. subsidies O B. consumption expenditure of households O C. capital expenditure D. cash benefits received from governments2. calculating the debt to GDP ratio
- The table below shows the data for the country of Magnolia. Complete the national income accounting framework by filling in the missing data. Remember to enter a minus (-) sign to indicate negative values. Expenditures Consumption Gross investment Government spending Net exports Gross domestic product at market prices Less depreciation Less indirect taxes (net of subsidies) Net domestic product at basic prices +/- net foreign factor income Net national product at basic prices 320 350 30 260 1100 100 50 160 70 220 -10 130 780 320 99 160Give typing answer with explanation and conclusion What is the ranking of the following provincial and local government expenditure categories from largest to smallest? a. health, social services, education b. social services, debt service, education c. debt service, health, education d. health, education, social servicesIf net Indirect taxes is $20,000 and Gross National product at market price is $28,000 Calculate GNPFC
