3.ItemsRMMillionGovernmentconconsumption800Private consumption700Government investment150Private investment140Change in stock55Net factor from abroad25Export250Import150Indirect taxes300EPF50Subsidies20SOCSO60Transfer payment50Income tax80Retained earning20Insurance premium30Based on the table above, calculate :-a. Gross Domestic Product at market price (GDPmp)b. Gross National Product at market price (GNPmp)c. Gross National Product (GNPfc) at factor costd. National Incomee. Personal incomef. Disposable personal income

Gross domestic product (GDP), gross national product (GNP), net national income (NNI), and adjusted…

Items RM Million 800 Government consumption Private consumption 700 Government investment 150 Private investment 140 Change in stock 55 Net factor from abroad 25 Export 250 Import 150 Indirect taxes 300 EPF 50 Subsidies 20 SOCSO 60 Transfer payment 50 Income tax 80 Retained earning 20 30 Insurance premium Based on the table above, calculate :- a. Gross Domestic Product at market price (GDPmp) b. Gross National Product at market price (GNPmp) c. Gross National Product (GNP fc) at factor cost d. National Income e. Personal income f. Disposable personal income

Items RM Million 800 Government consumption Private consumption 700 Government investment 150 Private investment 140 Change in stock 55 Net factor from abroad 25 Export 250 Import 150 Indirect taxes 300 EPF 50 Subsidies 20 SOCSO 60 Transfer payment 50 Income tax 80 Retained earning 20 30 Insurance premium Based on the table above, calculate :- a. Gross Domestic Product at market price (GDPmp) b. Gross National Product at market price (GNPmp) c. Gross National Product (GNP fc) at factor cost d. National Income e. Personal income f. Disposable personal income

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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i) calculate the national income ii) calculate the personal income
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Review View Design Layout References Mailings Page Layout Assignment Questions: 1. Calculate the GDP by using both formulas, expenditure approach and income approach. Also calculate the Real GDP if CP1 for Year1 is 120 and CPI for Year 2 is 150 Million $ YEAR 1 Consumption Indirect Taxes 6,200 200 1,600 800 Investment Depreciation Interest 400 500 500 Corporate Profit Exports Compensation of Employees Government Purchases 6,300 1,000 800 Direct Taxes 1,100 700 Saving Imports Rent 400 Million $ YEAR 2 Government Purchases 2500 Wages 4000 Interest 500 Proprietor's Income Consumption Depreciation Investment 2000 3000 200 1500 Indirect Taxes 300 700 Savings Imports 9000 dow Rent 1000 Еxports 10000 Hail English (U.S.)
Question 2 (i) Explain the difference between Gross Domestic Product (GDP) and Gross National Income. (ii) Explain the difference between Gross Domestic Product at factor cost (basic prices) and Gross Domestic Product at market prices. (iii)Explain the difference between nominal Gross Domestic Product and real Gross Domestic Product over time and the role of the GDP deflator.
U.S Economy 2020 Investment Expenditure $ 2160 Personal Consumption $ 1390 Net Export $809 Nationals abroad $ 250 Government Purchases $4755 Depreciation $445 Foreigners Income (at home) $ 180 Wages and Salaries $ 358 Rent $ 272 1. Using the Expenditure approach model calculate. 1. Gross Domestic Product (GDP) 2. Gross National Product (GNP) 3. Net National Product (NNP) 2. Distinguish between nominal GDP and real GDP
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
given the following calculate the Household Consumption Expenditure GDP at market prices 1,669.4 Imports 290.5 Gross domestic Capital Formation 48.7 Income Accruing to the public Sector 39 Retained Business Earnings 75.9 Exports 273.4 Subsidies 16.8 Factor Payments From Abroad 10 Capital Consumption Allowance 10.05 Income Payments to Foreigners 19.2 Direct Taxes 355.6 Public Sector Consumption Expenditure 490.1 Indirect Taxes 297.3 Transfer Payments 25.7
Problem I. Transfer Payments P54 Interest Income 150 Depreciation 36 Wages 67 Gross Private Investment (1) 124 Business Profits 200 Indirect Business Taxes 74 Rental Income 75 Net Exports (X-M) 18 Net Foreign Factor Income 12 Government Purchases (G) 156 Household Consumption (C) 304 Calculate the Gross National Income using Expenditure and Income Approaches.
Each point on a Phillips curve is a different combination of: O the interest rate and investment. inflation and unemployment. O saving and disposable income. O price and quantity.
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…
d) The total government spending in a country 2. Which of the following is NOT included in the calculation of GDP? a) Investment spending b) Government spending c) Transfer payments d) Consumer spending 3. Which appro to calculating GDP measures the value of all final goods