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
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
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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1. Based on this table, the Gross Domestic Product is $_______ billion.
Question 5 Assume you have the following data for a hypothetical country for a specific year (in billions of ZAR): Wages and Salaries: R2,500 Interest: R300 Rent: R200 Profits: R1,000 Taxes (Indirect Taxes Minus Subsidies): R400 Depreciation: R500 Given the data above, which of the following methods of calculating Gross Domestic Product (GDP) may be used? A. Expenditure approach B. Income approach c. Product approach D. Trade approach
Component Value ($bil) Component Value (Sbil) Consumption 680 Government outlays 300 Business Fixed Investment 90 Government purchases 220 Residential Investment 40 Labor income 520 Inventory stock, 12/31/22 160 Capital income 260 Inventory stock, 12/31/23 150 Net income of foreigners 40 Imports 140 Taxes, subsidies, and transfers 120 Exports 120 Depreciation 70 For each of the following calculations, show your work! a) Compute net exports (X) and investment (1) for this country. b) Use the spending approach to compute GDP (Y) for this country. c) Use the equation Y-C-G to compute national saving (S) for this country. How does it relate to your answer to part a? d) Briefly discuss how this country's spending components, as proportions of GDP , compare with the US in a recent year. e) Use the income approach to compute GDP for this country. Given your answer to part b, what is the size of the statistical discrepancy?
QUESTION 2 NATIONAL INCOME DATA (in current prices) 1992 III Personal consumption expenditures Gross private domestic investment Government purchases of goods and services 02. Based on this table, the Net Domestic Product is $ Exports Imports Capital consumption allowance (depreciation) Source: Survey of Current Business, Vol. 72, Number 10, (October 1992), p. 8, 10 QUESTION 3 billion. NATIONAL INCOME DATA (in current prices) 1992 III Personal consumption expenditures Gross private domestic investment Government purchases of goods and services 03. Based on this table, the Net Exports figure is $ (in billions of dollars) 4,105.0 776.9 1,122.5 626.8 664.2 697.3 billion. (in billions of dollars) Exports Imports Capital consumption allowance (depreciation) Source: Survey of Current Business, Vol. 72, Number 10, (October 1992), p. 8, 10 4,105.0 776.9 1,122.5 626.8 664.2 697.3

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