Homework Answers
Ans) Transfer payments are not included in income approach as they do not create any value. They are excluded in from income approach.
Indirect businesses taxes are included in gdp.
Option b
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When using the income approach to calculate nominal GDP, you should Multiple Choice subtract indirect business...
The income approach to measuring GDP Multiple Choice uses the payments paid to the four resources...
The income approach to measuring GDP Multiple Choice uses the payments paid to the four resources used to produce goods and services to estimate GDP focuses on how income is spent Oo oo adds up all household expenditures to calculate aggregate income and GDP ignores how income is earned and focuses instead on how it is used
Using the income approach, the largest share of GDP goes to: 1) capital income. O2) indirect...
Using the income approach, the largest share of GDP goes to: 1) capital income. O2) indirect taxes. 3) indirect income. 4) labour income. ( 5) intermediate income.
Disposable income is the income from wages, salaries, business and investments and when we subtract direct...
Disposable income is the income from wages, salaries, business and investments and when we subtract direct taxes from it and add cash transfers, we end up getting market income. O True O False
2. Use the following information to calculate GDP. You may calculate GDP from either the expenditure...
2. Use the following information to calculate GDP. You may calculate GDP from either the expenditure side or the income side of the accounts. 3,200 1,500 Government purchases of goods and services Consumption 11,500 Compensation of employees 9,100 Business structures and equipment investment Residential investment 500 R&D expenditures 200 Corporate profits 1,500 Rent 300 Interest 1,000 Proprietors income 200 Change in business inventories -100 Taxes on production and imports 2,000 Government transfer payments 1,800 Exports 1,500 Imports 2,000 Depreciation 2,000...
1. Government transfer payments are: Multiple Choice a. included in GDP under the personal consumption of...
1. Government transfer payments are: Multiple Choice a. included in GDP under the personal consumption of the recipient. b. not included in GDP since the recipient will use the funds to purchase final goods and services. c. included in GDP to account for the tax revenue that is generated to pay for them. d. included in GDP under government spending. 2. The purchase of a new television produced in Japan will be included in GDP as: Multiple Choice a. an...
The income approach to GDP equals? i picked b but i was wrong can anyone help?...
The income approach to GDP equals?
i picked b but i was wrong can anyone help?
Employee Compensation + Profit + Net Property Income + Indirect Business Taxes + Depreciation - Income Earned Abroad. Consumption + Gross Investment + Government Purchases + Net Exports. Consumption + Net Investment (Gross Investment-Depreciation) + Government Purchases + Net Exports. Employee Compensation - Profit - Net Property Income - Indirect Business Taxes - Depreciation - Income Earned Abroad.
8. The income approach The following table shows macroeconomic data for a hypothetical country. All figures...
8. The income approach The following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars. Billions of Dollars $2,300 Gross private domestic investment Depreciation Exports $1,987 $3,120 $200 $4,521 Imports Government purchases of goods and services Personal consumption expenditures Indirect business taxes and misc. items Income received from other countries $6,300 $1,341 $1,118 $1,022 $8,174 $1,895 Income paid to other countries Compensation of employees (wages) Corporate profits Rental income Net interest Proprietors' income $365...
8. The income approach The following table shows macroeconomic data for a hypothetical country. All figures...
8. The income approach The following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars. Billions of Dollars Gross private domestic investment Depreciation $1,700 $1,387 Exports $2,320 Imports $1,500 $3,921 Government purchases of goods and services Personal consumption expenditures Indirect business taxes and misc. items $5,700 $741 Income received from other countries $518 $422 $7,574 Income paid to other countries Compensation of employees (wages) Corporate profits Rental income Net interest Proprietors' income $1,295 $35...
Problem #1 GDP calculated by the expenditure approach will b income approach, because OA. the dollar...
Problem #1 GDP calculated by the expenditure approach will b income approach, because OA. the dollar value of the expenditure on new goods and services in a year must be equal to he GDP calculated by the the dollar value of the income generated in that year the dollar value of the expenditure on new goods and services in a year is always less than the dollar value of the income generated in that year, since imports are subtracted from...
. To measure GDP by using income approach we need to include: A) Personal consumption, business...
. To measure GDP by using income approach we need to include: A) Personal consumption, business investments, government expenditure and net export B) Compensation of employees and net operating surplus C) The value of goods and services at market prices D) The value of all final goods and services produced anywhere in the world by American producers
The income approach to measuring GDP Multiple Choice uses the payments paid to the four resources used to produce goods and services to estimate GDP focuses on how income is spent Oo oo adds up all household expenditures to calculate aggregate income and GDP ignores how income is earned and focuses instead on how it is used
Using the income approach, the largest share of GDP goes to: 1) capital income. O2) indirect taxes. 3) indirect income. 4) labour income. ( 5) intermediate income.
Disposable income is the income from wages, salaries, business and investments and when we subtract direct taxes from it and add cash transfers, we end up getting market income. O True O False
2. Use the following information to calculate GDP. You may calculate GDP from either the expenditure side or the income side of the accounts. 3,200 1,500 Government purchases of goods and services Consumption 11,500 Compensation of employees 9,100 Business structures and equipment investment Residential investment 500 R&D expenditures 200 Corporate profits 1,500 Rent 300 Interest 1,000 Proprietors income 200 Change in business inventories -100 Taxes on production and imports 2,000 Government transfer payments 1,800 Exports 1,500 Imports 2,000 Depreciation 2,000...
The income approach to GDP equals?
i picked b but i was wrong can anyone help?
Employee Compensation + Profit + Net Property Income + Indirect Business Taxes + Depreciation - Income Earned Abroad. Consumption + Gross Investment + Government Purchases + Net Exports. Consumption + Net Investment (Gross Investment-Depreciation) + Government Purchases + Net Exports. Employee Compensation - Profit - Net Property Income - Indirect Business Taxes - Depreciation - Income Earned Abroad.
8. The income approach The following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars. Billions of Dollars $2,300 Gross private domestic investment Depreciation Exports $1,987 $3,120 $200 $4,521 Imports Government purchases of goods and services Personal consumption expenditures Indirect business taxes and misc. items Income received from other countries $6,300 $1,341 $1,118 $1,022 $8,174 $1,895 Income paid to other countries Compensation of employees (wages) Corporate profits Rental income Net interest Proprietors' income $365...
8. The income approach The following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars. Billions of Dollars Gross private domestic investment Depreciation $1,700 $1,387 Exports $2,320 Imports $1,500 $3,921 Government purchases of goods and services Personal consumption expenditures Indirect business taxes and misc. items $5,700 $741 Income received from other countries $518 $422 $7,574 Income paid to other countries Compensation of employees (wages) Corporate profits Rental income Net interest Proprietors' income $1,295 $35...
Problem #1 GDP calculated by the expenditure approach will b income approach, because OA. the dollar value of the expenditure on new goods and services in a year must be equal to he GDP calculated by the the dollar value of the income generated in that year the dollar value of the expenditure on new goods and services in a year is always less than the dollar value of the income generated in that year, since imports are subtracted from...
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