Homework Answers
Balance of current account = private savings - investment + tax receipts- government spending
= $(50-70+25-20)
= -$15
This shows deficit of $15.
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QUESTION 40 The national income accounts of Laland show the following: private saving=$50, gross private domestic...
You are given the following information about an economy: Gross private domestic investment = 35 Government...
You are given the following information about an economy: Gross private domestic investment = 35 Government purchases of goods and services - 25 Gross national product (GNP) = 210 Current account balance = 0 Taxes = 60 Government transfer payments to the domestic private sector = 30 Interest payments from the government to the domestic private sector = 15 (Assume all interest payments by the government go to domestic households.). Factor income received from rest of world = 7 Factor...
1 23 You are given the following information about an economy: Gross private domestic investment 50...
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You are given the following information about an economy: Gross private domestic investment 50 Government purchases of goods and services 35 Gross national product (GNP) 300 Current account balance10 Taxes 60 Government transfer payments to the domestic private sector 30 Interest payments from the government to the domestic private sector10 (Assume all interest payments by the government go to domestic households.) Factor income received from rest of world 6 Factor payments made to rest of world8 Assuming that...
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!
Suppose you are given the following information about some hypothetical economy and its national income accounts....
Suppose you are given the following information about some hypothetical economy and its national income accounts. Use this information to answer the questions that follow (Amounts are in billions of dollars) Indirect Business Taxes $919.0 Corporate Profits $1208.9 Corporate Profits Taxes $469.4 Retained Earnings $330.8 Proprietor’s Income $1038.4 Rental Income $62.1 Net Interests $1171.1 Exports $1685.7 Imports $2380.4 Income Receipts from rest of world $855.6 Income Payments to rest of world $754.9 Net National Product $12380.8 Government expenditures for Goods...
15. Calculate National Income and Private Income from the following data: R (in crores) 25 Items...
15. Calculate National Income and Private Income from the following data: R (in crores) 25 Items 1. Current transfers by government 18. 2. Net domestic product at factor cost accruing to the government 90 200 -50 3. Govt. final consumption expenditure 4. Net exports 5. National debt interest 6. Net domestic capital formation 7. Consumption of fixed capital 8. Net 60 100 30 factor income paid to abroad 20 600 9. Private final consumption expenditure 10. Net indirect tax 11....
Provided below are national income accounting data of an economy (S billions) for a year. S Billions 22 Personal T...
Provided below are national income accounting data of an economy (S billions) for a year. S Billions 22 Personal Taxes Social Security Contributions Rents Taxes on Production & Imports Corporate Income Taxes Interest 15 18 20 25 22 42 Proprietors Income Transfer Payments Dividends 30 16 Compensation of Employees Exports Undistributed Corporate Profits Government Purchases Net Private Domestic Investment Imports Personal Consunmption Expenditures Consumption of Fixed Capital (Depreciation) Net Foreign Factor Income Personal Saving Corporate Profits Statistical Discrepancy 225 15...
Question 4 0.1 pts The following table describes the National Income and Product Accounts for 2016....
Question 4 0.1 pts The following table describes the National Income and Product Accounts for 2016. What is nominal GDP? Gross Private Domestic Investment Exports Imports Durable Goods Nondurable Goods Services Government Consumption & Investment Change in Private Inventories Residential Investment $3,057.2 $2,208.1 $2,712.9 $1,411.0 $2,710.4 $8,699.3 $3,267.8 $35.1 $705.9
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...
Among the most important problems of implementing fiscal policy include all except which of the following?...
Among the most important problems of implementing fiscal policy include all except which of the following? Correctly timing the desired fiscal stimulus, given the inevitable lags and forecasting errors Determining how large a stimulus to apply Assessing when policy actions should be reversed Determining how long a time lag to apply If the central bank does not use accommodating monetary policy, a fiscal stimulus is likely to increase interest rates, which in turn, will cause planned investment to decrease. What...
You are given the following information about an economy: Gross private domestic investment = 35 Government purchases of goods and services - 25 Gross national product (GNP) = 210 Current account balance = 0 Taxes = 60 Government transfer payments to the domestic private sector = 30 Interest payments from the government to the domestic private sector = 15 (Assume all interest payments by the government go to domestic households.). Factor income received from rest of world = 7 Factor...
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You are given the following information about an economy: Gross private domestic investment 50 Government purchases of goods and services 35 Gross national product (GNP) 300 Current account balance10 Taxes 60 Government transfer payments to the domestic private sector 30 Interest payments from the government to the domestic private sector10 (Assume all interest payments by the government go to domestic households.) Factor income received from rest of world 6 Factor payments made to rest of world8 Assuming that...
15. Calculate National Income and Private Income from the following data: R (in crores) 25 Items 1. Current transfers by government 18. 2. Net domestic product at factor cost accruing to the government 90 200 -50 3. Govt. final consumption expenditure 4. Net exports 5. National debt interest 6. Net domestic capital formation 7. Consumption of fixed capital 8. Net 60 100 30 factor income paid to abroad 20 600 9. Private final consumption expenditure 10. Net indirect tax 11....
Provided below are national income accounting data of an economy (S billions) for a year. S Billions 22 Personal Taxes Social Security Contributions Rents Taxes on Production & Imports Corporate Income Taxes Interest 15 18 20 25 22 42 Proprietors Income Transfer Payments Dividends 30 16 Compensation of Employees Exports Undistributed Corporate Profits Government Purchases Net Private Domestic Investment Imports Personal Consunmption Expenditures Consumption of Fixed Capital (Depreciation) Net Foreign Factor Income Personal Saving Corporate Profits Statistical Discrepancy 225 15...
Question 4 0.1 pts The following table describes the National Income and Product Accounts for 2016. What is nominal GDP? Gross Private Domestic Investment Exports Imports Durable Goods Nondurable Goods Services Government Consumption & Investment Change in Private Inventories Residential Investment $3,057.2 $2,208.1 $2,712.9 $1,411.0 $2,710.4 $8,699.3 $3,267.8 $35.1 $705.9
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...
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