HomeworkUsing the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions.CategoryCompensation of employees.U.S. exports of goods and servicesBillions$194.217.8Consumption of fixed capital11.8Government purchases59.4Taxes on production and imports14.4Net private domestic investment52.1Transfer payments13.9U.S. imports of goods and services16.5Personal taxes40.5Net foreign factor income2.2Personal consumption expendituresStatistical discrepancyInstructions: Round your answers to 1 decimal place.a. GDP $219.10.0billionb. NDP = $billionc. NI = $billion

a. Gross Domestic Product (GDP) is the total value of everything produced in a country. We calculate…

Answered: Homework Using the following national…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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what is the difference between Gross Domestic Product and Gross National Product? Would the difference be large or small for developed country? Defend your stand and give examples
Direction: Choose your answer from the box, and write the letter of your choice on the space provided. X. The Expenditure Approach Y. The Income Approach Z. The Industrial Origin Approach 1. Imports 2. Mining and Quarrying Industry 3. Indirect Business Taxes 4. Government Consumption Expenditure & Gross Investment 5. Industry Sector 6. Construction Industry 7. Transport and Commerce Industry 8. Exports - 9. Manufacturing Industry 10. Depreciation 11. Personal Consumption Expenditures 12. Agriculture, Fishery and Forestry Industry 13. Compensation of Employees 14. Trade Industry 15. Net Exports 16. Rental Income of Persons 17. Service Sector 18. Profits 19. Gross Private Domestic Investment 20. Net Interest
GDP = $6000 Personal Disposal Income - $5100 Government deficit = $200 Consumption = $3800 Trade deficit = $100 Calculate (a) government spending and (b) taxes
ASAP!! Answer please Following information has been gathered by a Senior Economist about a small country. Based only on the data given, calculate the gross domestic product using expenditure approach. National Account Details Amount ($ Billion) Consumption 61 Rent 12.3 Statistical discrepancy 10 Profit earned by companies 15.8 Capital consumption allowance 3 Government spending 7.8 Imports 4.4 Gross private domestic investment 11.1 Net Foreign Factor Income 4 Exports 3
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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
Transfer payments are included in the GDP calculation. [T or F]?
The following are the National Income Account data of the Philippines (figures are in Billions of Pesos). 17 Merchandise Imports Personal Consumption Expenditure Net Factor Income from Abroad Capital Consumption allowance Merchandise Exports Transfer Payments 217 7 15 19 32 Net Private Domestic Investment 8 Indirect Business Taxes 39 Personal Taxes 4 Social Insurance Contributions 10 Undistributed Corporate Profits Dividends 15 Government Expenditure 51 Corporate Income Tax 11 Calculate the Gross private domestic investment. Calculate the Net exports. Calculate the Gross Domestic Product. Calculate the Corporate profits.
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.
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The 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 1,080 645 710
ITEMS RM (millions) Agriculture 18,000 Mining 12,000 Manufacturing 22,000 Constructions 8,000 Electricity, gas and water 1,800 Transportation and communication 900 Indirect tax 800 Subsidies 700 Government services 1,700 Other services 900 Capital consumption 500 Income received from abroad 750 Income paid to abroad 450 Based on the table above, calculate: Gross Domestic Product (GDP) at market price. Gross Domestic Product (GDP) at factor cost. 3. Gross National Product (GNP) at factor cost

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