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- What are the main components of measuring GDP with what is demanded?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 IncomeThe 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 06 160 130
- 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 billionThe 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 710Billions of Dollars 6,500 1,900 1,200 Consumption Gross private domestic investment Government spending less transfer payments Imports Exports Depredation Indirect business taxes and transfers 600 500 1,500 750 17) Using the above table, the GDP is (in billions of dollars) A) 10,200. B) 8,200. C) 8,900. D) 9,500.
- In one year in the country of Countem, workers earned $4150, the proprietor’s income was $392, rental income was $20, corporate profits were $683, net interest was $228, taxes on production and imports were $329, business current transfer payments were $12, the current surplus of government enterprises was $3, statistical discrepancy was $28, consumption of fixed capital was $882, factor income received from the rest of the world was $331, and payments of factor income to the rest of the world was $623. Based on these data, compute the national income, net national product, gross national product, and gross domestic product.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 1601- Answer the following questions, According to given data about Country X, Corporation Tax Insurance Payment Student Grant Payments Export Import Retained Earnings Government Expenditures Depreciations Consumption Payments Personel Taxes A. What is the value of Gross Domestic Product for country X? B. What is the value of Gross National Product for country X? C. What is the value of Net National Product for country X? D.What is the value of National Income for country X? E. What is the value of Personel Income for country X? F. What is the value of Disposable Personel Income for country 25 15 15 25 15 40 X? 400 30 950 60 Indirect Taxes 70 Other Transfer Payments 20 Gross Investments 250 Net Foreign Factor Income Interest Earnings 55 15
- What is the relative importance of consumption spending (C) in aggreagte demand and some factors that affect it? What is the relative importance of investment spending (I) in aggreagte demand and some factors that affect it? What is the relative importance of government spending (G) in aggreagte demand and some factors that affect it? What is the relative importance of Net Export (NX) (Net Export = spending on exports (X) - imports (M)) in aggreagte demand and some factors that affect it?Given the following income data, please answer the questions below: Real GDPConsumption IgGovernmentExportsImports$ 80000$120000$7000 $18000$6000$11000$160000$180000$7000 $18000$6000$ 11000$240000$240000$7000 $18000$6000$11000$320000$300000$7000 $18000$6000$11000$400000$360000$ 7000 $18000$6000$11000 a. Solve for net exports in each row.b. Solve for aggregate expenditures (AE) in each row.c . State the value for the equilibrium GDP. d. If imports were to increase by $40000 so they are now equal to $51000. solve for net exports again.e. With this new export value, solve for aggregate expenditures in each row.f. State the value for the new equilibrium GDP.g. Solve for the multiplier (you can solve for either the actual or simple multiplier).5. Given the following income data, please answer the questions below. Real GDP Consumption Ig Government Exports $5000 $12000 $7000 $7000 $5000 $12000 $5000 $12000 $5000 $12000 $7000 $7000 $5000 $12000 $7000 $100000 $116000 $140000 $148000 $180000 $180000 $220000 $212000 $260000 $244000 Imports $16000 $16000 $16000 $16000 $16000 a. Solve for net exports in each row. b. Solve for aggregate expenditures (AE) in each row. c. State the value for the equilibrium GDP. d. If imports were to increase by $16000 so they are now equal to $32000, solve for net exports again. e. With this new export value, solve for aggregate expenditures in each row. f. State the value for the new equilibrium GDP. g. Solve for the multiplier (you can solve for either the actual or simple multiplier).
