The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire in...

Question

Question

The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire in the statistics office destroys

business economics

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Expenditure Approach

GDP = Consumption + Investment + Government expenditure + Net exports

GDP = $7000 + $160 + $180 + (-300)

GDP = 7040

GDP (expenditure approach) is $7040.

Add a comment

Answer 2

Similar Homework Help Questions

The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire in...

The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire in the statistics office destroys some accounts, leaving only the data on the right. Calculate GDP (expenditure approach) and depreciation. (dollars) Item GDP (income approach) Consumption expenditure 6,940 7,000 Indirect taxes less subsidies 700 Interest, rent, and profit 220 Investment 160 Government expenditure Wages 180 5,900 0 Net factor income from abroad Net exports -300 (dollars) Item GDP (income approach) Consumption expenditure 6,940 7,000 Indirect...
Question 2 Consider the following partial information from the national income and product accounts data for...

Question 2 Consider the following partial information from the national income and product accounts data for the state of Kiribati. Item $ 000 Item $'000 Depreciation ......... 105 Social security payments ............... 238 Wages... 1239 Indirect business taxes..... 371 Corporate profits ... 161 Gross private domestic investment 595 Personal taxes 392 Rental income ......... 21 Proprietor's income 168 Imports ................. Consumption .......... 1377 Net interest Exports ........... 133 Factor income paid abroad.............. Government purchases 448 22 Factor income received from...
The table shows some of the items in an economy's National Income and Product Accounts. Amount...

The table shows some of the items in an economy's National Income and Product Accounts. Amount (trillions of dollars) Item Wages Calculate the difference between GDP, GNP, and national income >>> If an answer is negative, include a minus sign. If an answer is positive, do not include a plus sign. GDP minus GNP is S trillion. >>> Answer to 1 decimal place. Government expenditure Interest, rent, and profit Consumption expenditure Investment Net exports Indirect taxes less subsidies Retained profits...

The table shows some of the items in an economy's National Income and Product Accounts. Amount...

The table shows some of the items in an economy's National Income and Product Accounts. Amount (trillions of dollars) 6.3 Calculate net domestic product at factor cost using the income approach. What is the statistical discrepancy? >>> Answer to 1 decimal place. Using the income approach, net domestic product at factor cost is s trillion Item Wages Government expenditure Interest, rent, and profit Consumption expenditure Investment Net exports Indirect taxes less subsidies Retained profits Transfer payments Personal income taxes The...
The table shows some of the items in an economy's National Income and Product Accounts. Amount (trillions of dollars) C...

The table shows some of the items in an economy's National Income and Product Accounts. Amount (trillions of dollars) Calculate the difference between GDP, GNP and national income. Item Wages Government expenditure Interest, rent, and profit Consumption expenditure 6.3 2.0 >>> lf an answer is negative, include a minus sign. If an answer is positive, do not include a plus sign 25 7.7 GDP minus GNP is S trillion Investment 1.6 Net exports Indirect taxes less subsidies Retained profits Transfer...
The table shows some of the items in Northland's National Income and Product Accounts in 2016....

The table shows some of the items in Northland's National Income and Product Accounts in 2016. Calculate Northland's net domestic product at factor cost in 2016. Amount (billions of dollars) 885 815 Northland's net domestic product at factor cost in 2016 is $ billion. Item Consumption expenditure Wages Government expenditure Interest, rent, and profit Indirect taxes less subsidies Depreciation Investment Net exports

In the table, you find figures taken from some Country’s national accounts for the 2018 fiscal...

In the table, you find figures taken from some Country’s national accounts for the 2018 fiscal year. Figures are in billions of dollars. Find: a) Savings b) Private Savings c) Net Government Income d) Gross National Product e) Net Exports f) Government Interest Payments g) Current Account Balance Variables: Values: Y(GDP) 2000 NFP (Net Factor Payment) 100 C (Consumption) 1400 G (Government Expenditure) 200 PDI (Personal Disposable Income) 1600 I (Investment) 160 T (Taxes) 640 TR (Government Transfers) 130
Questions 1-5 Gigaland’s 2019 National Accounts 1. Personal taxes 320 2. Corporateincometaxes 70 3. Indirect taxes...

Questions 1-5 Gigaland’s 2019 National Accounts 1. Personal taxes 320 2. Corporateincometaxes 70 3. Indirect taxes less subsidies 100 4. Undistributedcorporateprofits 120 5. Netincomeoffarmandunincorporatedbusiness 240 6. Wages, salaries, and supplementary labour income 1,000 7. Personal consumption expenditures 1,040 8. Capital consumption allowance (depreciation) 180 9. Exports 700 10. Profits of corporations and government enterprises before taxes 240 11.Interest and investment income 80 12. Dividends 90 13. Imports 640 14.Gross investment 340 15.Net investments from non-residents 160 16.Transfer payments to persons...
OPtions Blank 1: open, Closed Blank 2: 41.3%, 39.1%, 36.2%, 40.2% Blank 3: Surplus, Deifcit Blank...

OPtions Blank 1: open, Closed Blank 2: 41.3%, 39.1%, 36.2%, 40.2% Blank 3: Surplus, Deifcit Blank 4: € 257 billion, € 316 billion, € 294 billion, € 251 billion Blank 5: 25.3%, 26.5%, 27.6%, 25.6% Suppose you have the following data from Germany's national income and product accounts Billions of Euros Gross national disposable income Personal consumption Investment Government consumption Imports of goods and services Exports of goods and services Factor service imports Factor service exports Unilateral transfers to other...

IN one country applies the following for the national accounts: - Gross domestic product (GDP): 4900 - Income from abroa...

IN one country applies the following for the national accounts: - Gross domestic product (GDP): 4900 - Income from abroad (net): 150 - Capital income from abroad (net): 170 - Transfers from abroad (net): -20 - Private consumption: 3580 - Investments including inventory investments: 950 - Public consumption: 1010 Calculate the current account!

The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire in...

Homework Answers