(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.

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Find the value of gross national product at factor cost if gross national product at Market price is $1400 million and the net indirect taxes is $42 million

a.) From the following data, calculate national income by income method  Items                                                        (Units of m) Compensation of employees                 800 Mixed income of self-employed             900 Net factor income from abroad            - 50 Rent                                                           350 Profit                                                          600 Consumption of fixed capital                  200 Net indirect taxes                                     250 Interest                                             450 Operating Surplus                                    1400   b.) From the following data, calculate national income by expenditure method.         Items                                                                     (000) Compensation of employees                                       1,200 Net factor income from                                                   - 20 Net indirect taxes…

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Consider the following table: GDP Depreciation Corporate earnings Transfer Payments Personal Tax Payments National income (NI) equals $ Personal income (PI) equals $ Disposable personal income (DPI)equals $ billion. (Enter your response as an integer.) billion. (Enter your response as an integer.) billion. (Enter your response as an integer.) Billions of dollars $13,300 1,500 1,250 600 1,000

In most developed countries, services account for the majority of gross domestic product.  False True

Within the circular flow of income, withdrawals are composed ofA) saving, net taxes and import expenditure.B) consumption, net taxes and import expenditure.C) saving, net taxes and export expenditure.D) saving, investment and import expenditure.

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 06 160 130

Solve it correctly and completely  please. I will rate accordingly with 4 votes. Please do complete solution.