GDP using the Income or Expenditure Approach. (all figures are in billions of dollars): Item Amount ($) Government purchase of goods and services 1,721.6 Exports 1,096.3 Receipts of factor income from the rest of the world 382.7 Depreciation (consumption of fixed capital) 990.8 Net fixed Investments 688.2 Corporate income taxes 265.2 Consumption expenditures 6,739.4 Indirect business taxes 664.6 Imports 1,475.8 Payments of factor income to the rest of the world 343.7 Inventory change 56.5 Social security contributions 702.7 Undistributed corporate profits (retained earnings) 130.3 Government transfer and interest payments 1,366.3 Personal interest payments 286.2 Personal taxes 1,235.7 (b) Using the following data calculate: (i) The number of persons employed. (ii) The number of persons unemployed. (iii) The labour force. (iv) The Labour Force Participation rate. (v) The “official” unemployment rate.

GDP using the Income or Expenditure Approach. (all figures are in billions of dollars): Item Amount ($) Government purchase of goods and services 1,721.6 Exports 1,096.3 Receipts of factor income from the rest of the world 382.7 Depreciation (consumption of fixed capital) 990.8 Net fixed Investments 688.2 Corporate income taxes 265.2 Consumption expenditures 6,739.4 Indirect business taxes 664.6 Imports 1,475.8 Payments of factor income to the rest of the world 343.7 Inventory change 56.5 Social security contributions 702.7 Undistributed corporate profits (retained earnings) 130.3 Government transfer and interest payments 1,366.3 Personal interest payments 286.2 Personal taxes 1,235.7 (b) Using the following data calculate: (i) The number of persons employed. (ii) The number of persons unemployed. (iii) The labour force. (iv) The Labour Force Participation rate. (v) The “official” unemployment rate.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 2SQ

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Calculate GDP using the Income and Expenditure Approach.(all figures are in billions of dollars): Item Amount ($)Government purchase of goods and services 1,721.6Exports 1,096.3Receipts of factor income from the rest of the world 382.7Depreciation (consumption of fixed capital) 990.8Net fixed Investments 688.2Corporate income taxes 265.2Consumption expenditures 6,739.4Indirect business taxes 664.6Imports 1,475.8Payments of factor income to the rest of the world…
(a) Calculate GDP using the Income and (all figures are in billions of dollars): Approach. Amount ($) 1,721.6 1,096.3 Item Government purchase of goods and services Exports Receipts of factor income from the rest of the world Depreciation (consumption of fixed capital) Net fixed Investments 382.7 990.8 688.2 Corporate income taxes Consumption expenditures Indirect business taxes 265.2 6,739.4 664.6 Imports Payments of factor income to the rest of the world Inventory change Social security contributions Undistributed corporate profits (retained earnings) Government transfer and interest payments Personal interest payments Personal taxes 1,475.8 343.7 56.5 702.7 130.3 1,366.3 286.2 1,235.7
Calculate the GDP using Income OR Expenditure Approach (all figures are in billions of dollars) ITEM Amount ($) Government purchase of goods and services 1,721.6 Exports 1,096.3 Receipts of factor income from the restof the world 382.7 Depreciation (consumption of fixed capital) 990.8 Net fixed Investments 688.2 Corporate income taxes 265.2 Consumption expenditures 6,739.4 Indirect business taxes 664.6 Imports 1,475.8 Payments of factor income to the rest of the world 343.7 Inventory change 56.5 Social security contributions 702.7 Undistributed corporate profits (retained earings) 130.3 Government transfer and interest payments 1,366.3 Personal interest payments 286.2 Personal Taxes 1,235.7 Type answer please
Expenditure (in thousands) Component Social Security payments $290 Depreciation $60 Gross private investment $740 Exports $210 Imports $350 Salaries earned by foreigners working in Magnolia $170 Household consumption $940 Purchases of raw materials $310 Government purchases $720 Capital income $240 Salaries earned by Magnolian residents working abroad $210 Using the expenditure method, the data show that Magnolia's GDP (in thousands) is $ 2260 . (Enter your response as an integer.) The value of Magnolia's GNP (in thousands) is S (Enter your response as an integer.)
Item Personal consumption expenditure Government expenditure on goods and services Net taxes Gross private domestic investment Imports of goods and services Exports of goods and services Millions of dollars 80 30 35 20 10 20 Using the information in the table above, calculate the value of GDP. Enter only the whole number of millions of dollars (no units)
The following table shows data on consumption, Investments, exports, imports, and government expenditures for the United States in 2016, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the table to calculate GDP using the expenditure approach. Data (Billions of dollars) Consumption (C) Investment (I) 12,757.9 3,035.7 Exports (X) 2,232.4 Imports (M) 2,733.7 Net Exports of Goods and Services Government Purchases (G) 3,276.7 Gross Domestic Product (GDP) MacBook Pro Grade It Now Save & Continue Continue without saving
GDP = $ Billion Use the data below to calculate GDP using the income approach. (I intentionally left out some of the expenditure categories so that you must use the income approach). All figures are in billions of dollars: Gross Private Domestic Investment 848.3 Proprietor's Income 413.9 Dividends 190.6 Wages and Salaries 3183.1 Undistributed Corporate Profits 62.3 Corporate Income Taxes 199.6 Imports 638.6 Government Expenditures | 1296.2 Rents 51.9 Transfer Payments 693.1 Exports 562.6 Indirect Business Taxes 447.4 Consumption of fixed capital (depreciation) 778.3 Net foreign factor income earned in the U.S. 33.7 Social Security Contributions 483.6 Interest 429.5 Personal Taxes 591.9 ....
mment exE published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the table to calculate GDP using the expenditure approach. Data (Billions of dollars) Consumption (C) 13,321.4 Investment (I) 3,368.0 Exports (X) 2,350.2 2,928.6 Imports (M) Net Exports of Goods and Services 3,374.4 Government Purchases (G) Gross Domestic Product (GDP)
1. Calculate GDP using the Income and Expenditure Approach. (all figures are in billions of dollars): Item Amount ($) Government purchase of goods and services 1,721.6 Exports 1,096.3 Receipts of factor income from the rest of the world 382.7 Depreciation (consumption of fixed capital) 990.8 Net fixed investments 688.2 Corporate income taxes 265.2 Consumption expenditures 6,739.4 Indirect business taxes 664.6 Imports 1,475.8 Payments of factor income to the rest of the world 343.7 Inventory change 56.5 Social security contributions 702.7 Undistributed corporate profits (retained earnings) 130.3 Government transfer and interest payments 1,366.3 Personal interest payments 286.2 Personal taxes 1,235.7
QUESTION 2 Refer to the accompanying national income data (in billions of dollars) and answer the following questions. (Show your calculations) Gross Private Domestic Investment $1,593 1,113 1,683 Personal Taxes Transfer Payments Taxes on Production and Imports 695 Corporate Income Taxes Personal Consumption Expenditures Consumption of Fixed Capital US Exports 213 7,304 1,393 Dividends 1,059 Government Purchases 434 1,973 Net Foreign Factor Income Undistributed Corporate Profits Social Security Contributions US Imports Statistical Discrepancy 10 141 748 1,483 50 a. Caleulate Net Exports. Does the country face a trade deficit or surplus or neither?
Spending Category ABOUT (Billions of dollars) Corporate profits 305 Depreciation 479 Gross private domestic investment 716 Personal taxes 565 Personal saving 120 Government spending 924 Imports 547 Net interest 337 Compensation of employees 2,648 Rental income 19 Exports 427 Personal consumption expenditures 2,966 Indirect business taxes 370 Contributions for Social Security (FICA) 422 Transfer payments and other income 991 Proprietors' income 328 Based on the data table, personal income is equal to $ Based on the data table, disposable personal income (DI) is equal to billion. billion.
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 $226.2 U.S. exports of goods and services 19.8 Consumption of fixed capital 11.8 Government purchases 59.4 Taxes on production and imports 14.4 Net private domestic investment 52.1 Transfer payments 13.9 U.S. imports of goods and services 16.5 Personal taxes 40.5 Net foreign factor income 2.2 Personal consumption expenditures 249.1 Statistical discrepancy 0.0 Instructions: Round your answers to 1 decimal place. a. GDP = $ billion b. NDP = $ billion c. NI= $ billion