Personal consumption expenditures$5,207Interest425Corporate profits735Government spending1,406Depreciation830Rental income146Gross private domestic investment1,116Compensation of employees4,426Exports870Imports965Indirect business taxes553Proprietors' income520Personal taxes886Social Security taxes432Transfer payments376 In Exhibit 15-7, disposable personal income (DI) is: a. $5,127 billion. b. $6,254 billion. c. $6,495 billion. d. $5,608 billion.

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Answered: Personal consumption expenditures…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Household purchases of education services AED108,720 Household purchases of new housing AED293,760 Purchases of capital equipment AED119,880 Inventory changes AED27,000 Purchases of new structures AED96,120 Local government spending on goods and services AED84,960 State government spending on goods and services AED150,840 Federal government spending on goods and services AED425,520 Transfer payments AED254,520 Foreign purchases of domestically produced goods AED78,120 Domestic purchases of foreign goods AED46,440 Household purchases of durable goods AED398,880 Household purchases of nondurable goods AED252,720 Household purchases of non-education services AED73,080 Current account Balance AED96,840 GDP Net Transfers GNP Complete table 3 by calculating the GDP, Net transfers and GNP.
Q5) The following information is extracted from the National Income Accounts of an economy. Particulars ValuesExports of goods and services 130Depreciation 525Government expenditure 450Gross domestic investment 750Imports of goods and services 135Personal consumption expenditure 27,500Find the value of net domestic product
Suppose the following data are from the Economic Report of the President for the current year. Use the data in this table to answer the questions that follow. National Income Data Spending Category Corporate profits Depreciation Gross private domestic investment Personal taxes Personal saving Government spending Imports Net interest Compensation of employees Rental income Exports Personal consumption expenditures Indirect business taxes Contributions for Social Security (FICA) Transfer payments and other income Proprietors' income Amount (Billions of dollars) 305 490 716 565 120 924 547 337 2,648 19 427 2,966 370 394 967 328 Given the values in the table, the value of national income (NI) is $ billion National income is a better measure of economic performance than GDP because it adds subtracts the loss in capital value measured by depreciation.
On January 1, 2016, Sophie's Internet Cafe owned 10 computer terminals valued at $8,000. During 2016, Sophie's bought 5 new computer terminals at a cost of $1,250 each, and at the end of the year, the market value of all of Sophie's computer terminals was $9,000. What was Sophie's gross investment, net investment, and depreciation? Sophie's gross investment during 2016 was S
1) Calculate GDP MP and NNPFC from the following Net domestic product at market price 74905 Net indirect taxes 8344 Income from domestic product to government 1972 Net factor income from abroad -232 Current transfers to household 2305 Depreciation 4486
23 Goods and services produced by Omani working in Oman is OMR 3.1 billion, produced by Omani working outside Oman = OMR 1.5 billion, and produced by the residents who are working in Oman OMR 2.9 billion. Calculate Gross Domestic Product of Oman? Select one: a. 0.20 b. None of these c. 4.50 d. 6.00 e. 7.50
Consider the following information for the U.S. economy in 2003 (figures in billions). Personal Consumption Gross private investment Government consumption and gross investment Net exports Indirect business taxes Depreciation Self-employment Income $7,761 1,666 2,075 -498 339 1,380 834 Refer to Exhibit 7-2. Gross domestic product is equal to
Written answer with explanation only
Which of the following form the basis of GDP calculated using the income approach? Question 4 options: depreciation, profit, investment, and interest wages, rent, profit, and interest wages, depreciation, profit, and consumption Indirect taxes, consumption, rent, and wages factor prices, profit, rent, and net capital
Exercise 1 (45%): In the textbook, Model I is the least complicated way to define the relations in the real economy. Then the activity Y is a function of exogenous factors explained outside the model. The model is based on the data found in the National Accounts and is defined as follows: Y= Cp + Ip +G+NX Cp = c(Y-T)+C° Ip = 1° - bi NX = NX° - aY T=T° + tY. Based on such a model I, we establish a general function for the real economy which can then be as follows: Y=T==0+C + 1° + NX° + G - cT° - bi) The elements that are part of the general macroeconomic relationship have the following values: Cp = 0.75 (Y - T) + 1400 Ip = 1250 - 90i NX = 2800 - 0.3Y %3D T= 1200 + 0.19Y G= 2000 i = 1.5. %3D
Use the table to find GDI, GDP, gross private domestic investment, personal income, and personal disposable income. (All amounts in trillions of dollars.) Profit Indirect business taxes Rent Interest Wages Depreciation Consumption Government spending Imports Social Security contributions Exports Government transfer payments Personal income taxes and nontax payments Corporate taxes and retained earnings 2.8 .8 .7 .8 8.2 1.3 11.0 1.8 1.7 2.0 1.5 2.0 1.7 .5
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