Homework Answers
Gross domestic product , GDP = C+I +G + NX
= $(12.3+ 3.8+ 3.4+ (-0.5) ) trillion
= $19 trillion
Net domestic product ,NDP = GDP -Depreciation
= $(19-0.5) trillion
NDP = $18.5 trillion
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Suppose that U.S. consumption spendng is $12.3 trillien, gress private domestc investment is 33.8 trillion, governsment...
Question 2 (1 point) In an open economy suppose that GDP is $12 trillion. Consumption is...
Question 2 (1 point) In an open economy suppose that GDP is $12 trillion. Consumption is $8 trillion and government spending is $2 trillion, Taxes are $0.5 trillion. Exports are $1 trillion and imports are $3 trillion. What is private saving? $4 trillion $3.5 trillion $2.5 trillion $1.5 trillion Question 1 (1 point) Interest rate (%) Supply of loanable funds Demand for loanable funds 0 10 20 30 40 50 60 70 80 90 100 Quantity of loanable funds (billions...
Consider an economy with total GDP of $15 trillion, total household consumption of $10 trillion, total...
Consider an economy with total GDP of $15 trillion, total household consumption of $10 trillion, total government spending of $3 trillion, imports of $4 trillion and exports of $3 trillion. The net factor payments households receive is $0.2 trillion, and the total taxes paid to the government are $2 trillion. 3.1 Calculate the total private investment in this economy. 3.2 Calculate gross national product. 3.3 Calculate the total national saving. 3.4 Calculate the current account surplus
QUESTION 8 The largest component of GDP is: A. consumption expenditure. B. gross private domestic investment...
QUESTION 8 The largest component of GDP is: A. consumption expenditure. B. gross private domestic investment C. government spending. D. net exports. QUESTIONS The sum of all income, including wages, salaries and benefits, profits, rental income, and interest, is called: A. labor income B. gross domestic income. C. national income. D. pretax income. QUESTION 10 A business cycle is: A. the periodic fluctuation of economic activity. B. the engine of economic growth. C. a period lasting about 50 years. D....
Macroeconomics (consumption, investment and loanable funds) question. The Current U.S. government spending is $4.746 trillion. That's...
Macroeconomics (consumption, investment and loanable funds) question. The Current U.S. government spending is $4.746 trillion. That's the federal budget for fiscal year 2020 covering October 1, 2019, to September 30, 2020. It's 21% of gross domestic product. That means that Government Spending in the United States has increased under the current U.S. Administration. Additionally, last year the Congress passed a tax reform that, among other effects, cut payroll taxes: i) Can you establish the macroeconomics effects of these policies on...
7. Measuring GDP The following table shows data on personal consumption expenditures, gross private domestic investment,...
7. Measuring GDP The following table shows data on personal consumption expenditures, gross private domestic investment, exports, imports, and government purchases of goods and services for the United States in 2009, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the table to calculate GDP by adding together the final demands of consumers, business firms, the government, and foreigners-a method of calculating GDP known as the expenditure approach....
Amount -12 69 20 34 Item Change in Private Inventories (CI) Compensation of Employees--Wages (W) Consumption...
Amount -12 69 20 34 Item Change in Private Inventories (CI) Compensation of Employees--Wages (W) Consumption of Fixed Capital--Depreciation (DEPR) Government Consumption Expenditures and Gross Investment (G) Gross Private Domestic Fixed Investment (FI) Interest (INT) Net Exports (XN) Net Foreign Factor Income (NFFI) Personal Consumption Expenditures (C) Profits (PROF) Proprietors’ Income (PRIN) Purchases of Stocks and Bonds (SB) Rents (RENT) Statistical Discrepancy (SD) Stock of Capital at End of Year (SK) Taxes on Production and Income (TAX) 100 700 6...
The following table gives categories for income and expenditures for a representative country: 750 600 Net...
The following table gives categories for income and expenditures for a representative country: 750 600 Net exports of goods and services Net interest paid by business Government purchases of goods and services Gross private domestic investment 2.250 3.000 600 Indirect business taxes Rental income of individuals plus implicit rent on owner-occupied housing Wages, salaries employee compensation Personal consumption expenses Depreciation Proprietorial income Corporate profits 300 9.000 10.500 1.200 1.500 1.800 Use the data in the table to caloulate Gross Domestic...
Question 20 (1 point) $20 300 15 80 10 Proprietors' Income Compensation of Employees Consumption of...
Question 20 (1 point) $20 300 15 80 10 Proprietors' Income Compensation of Employees Consumption of Fixed Capital Gross Investment Rents like Interest Exports Imports Corporate Profits Taxes on Production and Imports Net Foreign Factor Income Statistical Discrepancy 20 30 50 @ Refer to the accompanying data. All figures are in billions of dollars. Net domestic product is $395. $380. $375. $360 Question 21 (1 point) $200 40 15 300 Disposable Income Net Private Domestic Investment US Imports National Income...
Let C stand for consumption spending, I for investment, G for government purchases, X for exports,...
Let C stand for consumption spending, I for investment, G for government purchases, X for exports, M for imports, DI for disposable income, and NT for net taxes. Consider the following identity and answer the questions that follow. C+I+G+(X-M)= DI + NT Which of the following best characterizes the above identity? Aggregate income must equal the total amount of leakages from the nation's flow of income and expenditures Domestic product must exceed aggregate income. O Aggregate income must equal domestic...
2. Suppose that you are given the following data for the country of Donaldland: consumption ...
2. Suppose that you are given the following data for the country of Donaldland: consumption 14,000 net factor income from abroad 300 wages 11,000 interest payments 2,000 investment 3,600 capital consumption allowance 3,300 exports 2,500 government spending on goods 3,600 imports 3,100 and services profits 3,700 rental payments 800 From the data provided, find a. GDP using the expenditure approach. b. GNP and NNP. c....
Question 2 (1 point) In an open economy suppose that GDP is $12 trillion. Consumption is $8 trillion and government spending is $2 trillion, Taxes are $0.5 trillion. Exports are $1 trillion and imports are $3 trillion. What is private saving? $4 trillion $3.5 trillion $2.5 trillion $1.5 trillion Question 1 (1 point) Interest rate (%) Supply of loanable funds Demand for loanable funds 0 10 20 30 40 50 60 70 80 90 100 Quantity of loanable funds (billions...
QUESTION 8 The largest component of GDP is: A. consumption expenditure. B. gross private domestic investment C. government spending. D. net exports. QUESTIONS The sum of all income, including wages, salaries and benefits, profits, rental income, and interest, is called: A. labor income B. gross domestic income. C. national income. D. pretax income. QUESTION 10 A business cycle is: A. the periodic fluctuation of economic activity. B. the engine of economic growth. C. a period lasting about 50 years. D....
7. Measuring GDP The following table shows data on personal consumption expenditures, gross private domestic investment, exports, imports, and government purchases of goods and services for the United States in 2009, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the table to calculate GDP by adding together the final demands of consumers, business firms, the government, and foreigners-a method of calculating GDP known as the expenditure approach....
Amount -12 69 20 34 Item Change in Private Inventories (CI) Compensation of Employees--Wages (W) Consumption of Fixed Capital--Depreciation (DEPR) Government Consumption Expenditures and Gross Investment (G) Gross Private Domestic Fixed Investment (FI) Interest (INT) Net Exports (XN) Net Foreign Factor Income (NFFI) Personal Consumption Expenditures (C) Profits (PROF) Proprietors’ Income (PRIN) Purchases of Stocks and Bonds (SB) Rents (RENT) Statistical Discrepancy (SD) Stock of Capital at End of Year (SK) Taxes on Production and Income (TAX) 100 700 6...
The following table gives categories for income and expenditures for a representative country: 750 600 Net exports of goods and services Net interest paid by business Government purchases of goods and services Gross private domestic investment 2.250 3.000 600 Indirect business taxes Rental income of individuals plus implicit rent on owner-occupied housing Wages, salaries employee compensation Personal consumption expenses Depreciation Proprietorial income Corporate profits 300 9.000 10.500 1.200 1.500 1.800 Use the data in the table to caloulate Gross Domestic...
Question 20 (1 point) $20 300 15 80 10 Proprietors' Income Compensation of Employees Consumption of Fixed Capital Gross Investment Rents like Interest Exports Imports Corporate Profits Taxes on Production and Imports Net Foreign Factor Income Statistical Discrepancy 20 30 50 @ Refer to the accompanying data. All figures are in billions of dollars. Net domestic product is $395. $380. $375. $360 Question 21 (1 point) $200 40 15 300 Disposable Income Net Private Domestic Investment US Imports National Income...
Let C stand for consumption spending, I for investment, G for government purchases, X for exports, M for imports, DI for disposable income, and NT for net taxes. Consider the following identity and answer the questions that follow. C+I+G+(X-M)= DI + NT Which of the following best characterizes the above identity? Aggregate income must equal the total amount of leakages from the nation's flow of income and expenditures Domestic product must exceed aggregate income. O Aggregate income must equal domestic...
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