Foundations of Economics (8th Edition)
Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 21, Problem 4IAPA
To determine

To find:

Whether the production of the wings of an airline in Japan and assembling of the cars for the U.S. market in a city of the U.S. should appear in which activities of the National income and product accounts of Japan.

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Question 1 Table 23-1 The following table contains data for Mindalion for the year 2019. GDP Income earned by citizens abroad Income foreigners earn here Losses from depreciation Indirect business taxes Statistical discrepancy Retained earnings Corporate income taxes Social insurance contributions Interest paid to households by government Transfer payments to households from government Personal taxes Nontax payments to government $200 $9 $7 $4 $10 $0 $8 C. $198. d. $200. $12 $30 $8 $55 $60 $11 Refer to Table 23-1. Disposable personal income for Mindalion in 2019 is a. $130. b. $201.
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
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: a) Gross Domestic Product (GDP) at market price. b) Gross Domestic Product (GDP) at factor cost. c) Gross National Product (GNP) at factor cost. d) national income. e) What approach did you use to make calculation in question (i)? b) The table below shows national income data for a country R. Year Nominal GNP (RM million) Price Index 2017 16 400 100 2018 18 800 108 i) Calculate real income for 2017 and 2018. ii) How much growth rate from year 2017 to 2018?
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