Use the following table to answer the next question. The following national income data for an economy is in billions of dollars.Net foreign factor income$8Corporate profits47Gross private domestic investment73Proprietors' income46Dividends13Consumption of fixed capital41Social Security contributions10U.S. exports23Government purchases97Personal consumption expenditures314Transfer payments27Imports of the U.S.24Personal taxes46Corporate income taxes23Taxes on production and imports50InterestUndistributed corporate profitsStatistical discrepancyGross domestic product in this economy is161166

Gross Domestic Product is a total measure of economic productivity. It is an economic measure to…

Use the following table to answer the next question. The following national income data for an economy is in billions of dollars. Net foreign factor income $8 Corporate profits 47 Gross private domestic investment Proprietors' income 73 46 Dividends 13 Consumption of fixed capital 41 Social Security contributions U.S. exports Government purchases 10 23 97 Personal consumption expenditures 314 Transfer payments 27 Imports of the U.S. 24 Personal taxes 46 Corporate income taxes 23 Taxes on production and imports 50 Interest Undistributed corporate profits Statistical discrepancy Gross domestic product in this economy is 16 11 66

Use the following table to answer the next question. The following national income data for an economy is in billions of dollars. Net foreign factor income $8 Corporate profits 47 Gross private domestic investment Proprietors' income 73 46 Dividends 13 Consumption of fixed capital 41 Social Security contributions U.S. exports Government purchases 10 23 97 Personal consumption expenditures 314 Transfer payments 27 Imports of the U.S. 24 Personal taxes 46 Corporate income taxes 23 Taxes on production and imports 50 Interest Undistributed corporate profits Statistical discrepancy Gross domestic product in this economy is 16 11 66

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 13RQ: Would you usually expect GDP as measured by what is demanded to be greater than GDP measured by what...

See similar textbooks

Similar questions

Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category Amount (in billions) Wages and Salaries 1000 Consumption 1700 Investment 700 Depreciation 50 Government Expenditure 100 Taxes 300 Exports 50 Imports 40 Income receipts from rest of the world 10 Income payment to rest of the world 50 1. What are net exports for China? 2. 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?
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 _____________.
Q.7.2 Use 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: COMPONENT R millions Consumption expenditure (C) Investment (I) 9 000 6 500 Government spending (G) 7 000 Exports (X) 1 800 Imports (Z) 2 400 Depreciation 700 Foreign payment to the rest of the 300 world Foreign payment from the rest of the 250 world Q.7.2.4 If it is predicted that the GDP will increase to 22 000 in 2020, calculate the growth rate between 2019 and 2020. Q.7.2.5 The 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.
Question 13 Use the table given below to calculate National Income using the income approach: Personal Consumption Spending Interest Corporate Profit Government Purchases Depreciation Rent Gross Private Domestic Investment Compensation of Employees Exports Imports Indirect Business Taxes Proprietors' Income Personal Income Tax Income Earned but Not Received Income Received but Not Earned Receipt of Factor Incomes from the Rest $ 50 of the World Receipt of Factor Incomes to the Rest of $ 30 the World $850 इ 90 $150 $400 $100 $ 70 $120 $830 $120 $ 70 $ 80 $120 $110 $140 $160 a) $1380 O b) $1420 c) $2270 d) $1260
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
If you have the following data that representing an economy of a country as follow: transfer payments 355 Indirect taxes 315 Wages 2335 social security deductions 125 personal taxes (direct taxes ) Imports 410 350 Rent 250 income of foreigners inside Jordan 450 145 Exports retained (undistributed) profit 70 Interest 360 50 Depreciations transfer payments 355 income of the Jordanian from abroad 300 Gross private investment expenditures 750 275 corporate taxes Government expenditures 740 Profit 475 According to the above information answer the following questions:
According to the figure showing 2020 GDP for selected countries, how much larger (in percentage terms) is America's GDP than: 21.43 14.34 5.08 United China Japan States b. Russia? % larger Copyright © McGraw Hill LLC. Permission required for reproduction or display. GROSS DOMESTIC PRODUCT (in U.S. $ trillion) % larger 3.86 2.87 2.83 1.70 1.27 Germany India Great Britain Russia Mexico Source: Gross Domestic Product 2020. The World Bank Group, March 2021 0.53 Sweden Instructions: Round your responses to the nearest whole number. a. Germany? 0.21 Greece 0.01 Haiti
If you have the following data that representing an economy of a country as follow: transfer payments 355 Indirect taxes 315 Wages 2335 social security deductions personal taxes (direct taxes ) 125 410 Imports 350 Rent 250 income of foreigners inside Jordan 450 Exports 145 retained (undistributed) profit 70 Interest 360 Depreciations transfer payments 50 355 income of the Jordanian from abroad 300 Gross private investment expenditures 750 corporate taxes 275 Government expenditures 740 Profit 475 According to the above information answer the following questions: 1. find the following values related to GDP accounts : Gross domestic product (GDP) according expenditure approach = Net domestic product (NDP) = Domestic income (DOI) = Gross national product (GNP) = Net national product (NNP) = National income (NI) = Personal income = • Disposable personal income (DPI) = • household savings (S) = Cash Dividends ( distributed profit) = 2. Find the Gross Domestic Product (GDP) according to…
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%?
Q.7.2 Use 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: COMPONΕNT 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 the 300 world Foreign payment from the rest of the 250 world Show all calculations and formulae. Calculate the value of the country's GDE (Gross Domestic Expenditure).
rerer to the information provided in table 4 below to answer the question(s) that follow. Table 4 $Billions 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 20 40 150 50 40 160 80 Personal consumption expenditures Dividends 700 10 Exports Amount of national income not going to households 70 30 Referring to table 4, calculate a. The values for GDP, GNP, and NNP. b. The values for national income, personal income, and disposable personal income.
Would you usually expect GDP as measured by what is demanded to be greater than GDP measured by what is supplied, or the reverse?