Oesenve the graph betenen Tetal ependiture and National income Ohoce among the oing nhich choicea TRUE or pont Ethet Eective Demand Natona ncome and national output are not elated National incomeless tional out ational outpu Natonal Nationa tional output
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- The table below gives some of the items in the U.S. National Income and ProductAccounts in 1995.ItemAmount(trillions ofdollars)Consumption expenditure 4.97Investment 1.14Government expenditures 1.37Net exports 0.08Wages 4.20Interest, rent, and profit 1.68Depreciation 0.89a) Use the expenditure approach to calculate U.S. GDP in 1995.b) Use the income approach to calculate U.S. net domestic product at factor cost inIn the GDP equation, business spending is referred to as: O Consumption Investment O Government O Net ExportsThe table below gives date about the economy of countryX, answer the question below given the provided information. lg AE GDP=Y DI G M 40 10 30 15 15 60 10 30 15 15 80 10 30 15 15 100 10 30 15 15 120 10 30 15 15 140 10 30 15 15 160 10 30 15 15 a. Fill in the blanks in the table if T=20 and C= 10+0.75(Y-T) b. What is the equilibrium level of income (GDP)? c. What are the equilibrium values of consumption and saving? d. If taxes increase to 30, what is the new equilibrium GDP?
- 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“The total demand for goods and services consists of consumption demand,investment demand, government demand and net exports.” In terms of thisstatement, discuss the three sets of demand factors that can lead to economicgrowth.Explain how the law of diminishing marginal utility helps in deriving the demand curve. Explain how double counting occurs in computing GDP
- Which of the following description best explains the expenditures approach to calculating GDP? O consumer spending, private investment, government spending, exports minus imports O consumption, business purchase of raw material, government social security payments, and exports O investment, consumption, wages, and imports O savings, income, investment, and exportsQUESTION TWOSuppose that the economy of Mwaliteta Republic has the following data for some economic variables. Assume that Mwaliteta Republic has a population of 500,000 people.Variable Amount in million ZMWExpenditure on Non-durable goods 98Non-residential fixed investment 79Central government expenditure 60Local government expenditure 82Expenditure on durable goods 82Expenditure on services 99Export expenditure 60Inventory Investment 5Depreciation 4Property income from abroad 12Indirect taxes 12Residential fixed investment 42Personal income tax…1. What relationship does the income expenditure model represent? Why is it used?
- Which of the following items is not a component of the income approach of measuring the U.S. GDP? O interest earned on savings deposits in the U.S. O profits made by foreign businesses in the U.S. O investment spending of American businesses in the U.S. O income earned by American businesses that export goods.Explain how to derive total expenditure curveces IC raw ill ady Answer five questions given the following data for 2019: The Equivalence of Expenditure and Income (in Billions of Dollars) Expenditure C: Consumer goods and services I: Investment in plants, equipment, and inventory G: Government goods and services X: Exports M: Imports GDP: Total value of output b. Gross private investment d. Exports % c. Total government purchases e. Imports FI Instructions: Enter your responses as a percentage rounded to one decimal place. Calculate the following as a percentage of GDP for 2019: a. Personal consumption expenditures % % % EL Q Search @ F2 A $14,561 # 3,744 3,754 2,504 F3 (3,136) $21,427 F6 A $11,434 2,075 1,658 778 645 1,494 3,463 (120) $21,427 Q F7 & PrtScn 18. * Home F9 F