Using the incomes approach, calculate GDP at basic prices based on the numbersfrom this table:1 Wages and salaries234Compensation of employeesNet operating surplus: CorporationsGross mixed income5 Taxes less subsidies on productionNet mixed income7 Taxes less subsidies on products and imports86769101112Consumption of fixed capital: Unincorporated businessesConsumption of fixed capital: General government and NPISHGross operating surplusEmployers' social contributionsConsumption of fixed capital: Corporations$3545$3600$3680$3725A value greater than $372518002000550600455708030501000200400

GDP stands for Gross Domestic Product. It is a commonly used economic indicator that measures the…

Using the incomes approach, calculate GDP at basic prices based on the numbers from this table: 1 Wages and salaries 2 3 4 5 6 7 8 9 10 11 12 Compensation of employees Net operating surplus: Corporations Gross mixed income Taxes less subsidies on production Net mixed income Taxes less subsidies on products and imports Consumption of fixed capital : Unincorporated businesses Consumption of fixed capital : General government and NPISH Gross operating surplus Employers' social contributions Consumption of fixed capital: Corporations $3545 $3600 $3680 $3725 A value greater than $3725 1800 2000 550 600 45 570 80 30 50 1000 200 400

Using the incomes approach, calculate GDP at basic prices based on the numbers from this table: 1 Wages and salaries 2 3 4 5 6 7 8 9 10 11 12 Compensation of employees Net operating surplus: Corporations Gross mixed income Taxes less subsidies on production Net mixed income Taxes less subsidies on products and imports Consumption of fixed capital : Unincorporated businesses Consumption of fixed capital : General government and NPISH Gross operating surplus Employers' social contributions Consumption of fixed capital: Corporations $3545 $3600 $3680 $3725 A value greater than $3725 1800 2000 550 600 45 570 80 30 50 1000 200 400

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Provide a table with the nominal GDP for Belize for 2020 and 2021. Using only the nominal GDP, what do you know about (i) Changes in the level of output during this period? Explain (ii) Changes in prices during this period? Explain. (iii) Would your answer change if you were using Real GDP? Explain. (c) Fill in the missing values in the table of data collected in the household survey. The working-age population, employment, unemployment, and labor force are measured.
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
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
Part II 1. From the data in the below table, calculate GDP using the expenditure approach: Component Gross investment Personal consumption expenditure Depreciation Government purchases U.S. imports U.S. exports Compensation of employees Amount (billions of dollars) 1300 1475 25 1315 260 249 65
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