Macroeconomics
13th Edition
ISBN: 9780134744452
Author: PARKIN, Michael
Publisher: Pearson,
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Chapter 4, Problem 23APA
To determine
Determine the complications involved with attempting to compare the economic welfare in Country C and Country U in terms of
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According to the figure showing 2020 GDP for selected countries, how much larger (in percentage terms) is America's GDP than:
21.43
14.34
5.08
United China Japan
States
b. Russia?
% larger
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GROSS DOMESTIC PRODUCT (in U.S. $ trillion)
% larger
3.86
2.87
2.83
1.70
1.27
Germany India Great Britain Russia Mexico
Source: Gross Domestic Product 2020. The World Bank Group, March 2021
0.53
Sweden
Instructions: Round your responses to the nearest whole number.
a. Germany?
0.21
Greece
0.01
Haiti
Consider the following national accounts data for Westeros:
Westeros' National Accounts (2019)
GDP Item
(S billions)
Corporate income
140
Еxports
50
Wages and salaries
550
Net international income to the rest of the
8
world
Gross investment
160
Government purchases
184
Indirect taxes
75
Personal consumption
500
Imports
27
Depreciation
79
Proprietors' incomes and rents
Which is the following is the income-based estimate of GDP for Westeros?
65
$909 billion
$751 billion
$558 billion
$939 billion
Calculate the following using information from the table below:
i.
GDP at Market Price
ii.
GNI at market price
iii.
Net National Income
iv.
National Disposable Income
Purchase of mask by households
Clothing
Purchase of food to be used by households
Investment in housing
Change in inventory
Building of new public hospital
Import
Export
Tax
Subsidies
Salaries to workers abroad
Compensation from workers abroad
Depreciation
Net Current transfer
12,000
45,500
20,000
100,000
10,000
2,000,000
5,000
75,000
4,000
1,000
7,500
3,500
300
1,500
Chapter 4 Solutions
Macroeconomics
Ch. 4.1 - Prob. 1RQCh. 4.1 - Prob. 2RQCh. 4.1 - Prob. 3RQCh. 4.2 - Prob. 1RQCh. 4.2 - Prob. 2RQCh. 4.2 - Prob. 3RQCh. 4.2 - Prob. 4RQCh. 4.2 - Prob. 5RQCh. 4.3 - Prob. 1RQCh. 4.3 - Prob. 2RQ
Ch. 4.3 - Prob. 3RQCh. 4.3 - Prob. 4RQCh. 4.3 - Prob. 5RQCh. 4 - Prob. 1SPACh. 4 - Prob. 2SPACh. 4 - Prob. 3SPACh. 4 - Prob. 4SPACh. 4 - Prob. 5SPACh. 4 - Prob. 6SPACh. 4 - Prob. 7SPACh. 4 - Prob. 8SPACh. 4 - Prob. 9APACh. 4 - Prob. 10APACh. 4 - Prob. 11APACh. 4 - Prob. 12APACh. 4 - Prob. 13APACh. 4 - Prob. 14APACh. 4 - Prob. 15APACh. 4 - Prob. 16APACh. 4 - Prob. 17APACh. 4 - Prob. 18APACh. 4 - Prob. 19APACh. 4 - Prob. 20APACh. 4 - Prob. 21APACh. 4 - Prob. 22APACh. 4 - Prob. 23APACh. 4 - Prob. 24APACh. 4 - Prob. 25APACh. 4 - Prob. 26APACh. 4 - Prob. 27APACh. 4 - Prob. 28APA
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- How might you measure a green GDP?arrow_forwardList some of the reasons why economists should not consider GDP an effective measure of the standard of living in a county.arrow_forwardUse the following composition of expenditure for the economy of a country named the Republic of Tapuwa, for the year ended 2019 to answer the questions below: COMPONENT R millions Consumption expenditure (C) 9 000 Investment (1) 6 500 Government spending (G) 7 000 Exports (X) 1 800 Imports (2) 2 400 Depreciation 700 Foreign payment to the rest of the 300 world Foreign payment from the rest of the 250 world Show all calculations and formulae. Q.7.2.1 Calculate the value of the country's GDE (Gross Domestic Expenditure). Q.7.2.2 Compute the value for the country's GDP (Gross Domestic Product) at market price. Q.7.2.3 Determine the value of the country's NNI (Net National Income) at market price. Q.7.2.4 Ifit is predicted that the GDP will increase to 22 000 in 2020, calculate the growth rate between 2019 and 2020. Q.7.2.5 The measure of GDP for economic growth is not always perfect. Describe any two problems that are associated with GDP as a measure of economic growth.arrow_forward
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