Homework Answers
Question 1
(a)
Calculate the Gross Private Domestic Investment -
Gross Private Domestic Investment = Gross Private Domestic Fixed Investment + Change in Private Inventories
Gross Private Domestic Investment = 34 - 12 = 22
Thus,
The Gross Private Domestic Investment is 22.
(b)
Calculate the National Income -
National Income = Personal Consumption Expenditure + Government Consumption Expenditures and Gross Investment + Gross Private Domestic Investment + Net Exports - Consumption of Fixed Capital - Taxes on Production and Income + Net Foreign Factor Income
National Income = 65 + 20 + 22 - 7 - 5 - 6 + 0 = 89
The National Income is 89.
Question 2
Calculate the Gross Domestic Product using Expenditures approach -
Gross Domestic Product = Personal Consumption Expenditure + Government Consumption Expenditures and Gross Investment + Gross Private Domestic Investment + Net Exports
Gross Domestic Product = 65 + 20 + 22 - 7 = 100
The Gross Domestic Product using Expenditures approach is 100.
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Amount -12 69 20 34 Item Change in Private Inventories (CI) Compensation of Employees--Wages (W) Consumption...
Item Amount 300 Stock of Capital at end of year (K) Change in Private Inventories (CI)...
Item Amount 300 Stock of Capital at end of year (K) Change in Private Inventories (CI) Compensation of Employees-Wages (W) 50 60 Consumption of Fixed Capital-Depreciation (DEPR) Government Consumption and Gross Investment (G) Gross Private Domestic Fixed Investment (FI) Interest (INT) Net Exports (XN) Profits (PROF) Proprietors' Income (PRIN) Purchases of Stocks and Bonds (SB) Rents (RENT) Taxes on Production and Income (TAX) 15 13 -2 13 4 1. (a) Compute Gross Private Domestic Investment (). Show your work. (b)...
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...
Consider the following accounting statement for a small economy: Compensation of employees $10,000 Consumption of fixed...
Consider the following accounting statement for a small economy: Compensation of employees $10,000 Consumption of fixed capital $100 Corporate income taxes $200 Dividends $350 Government purchases $1,000 Gross private domestic investment $1,000 Indirect business taxes $400 Interest $600 Net exports -$1,000 Net foreign factor income earned in the United States $50 Personal consumption expenditures $12,000 Personal taxes $1,050 Proprietors' income $800 Rents $200 Social Security contributions $500 Transfer payments $200 Undistributed corporate profits $300. In this economy, GDP is equal...
&nb
Normal Real Items Q3 2018 (billions of dollars) Gross domestic product 20,658.20 153.40 Personal consumption expenditures 14,050.50 111.30 Gross private domestic investment 3,710.70 119.40 Net exports of goods and services -653.50 -108.70 Government consumption expenditures and gross investment 3,550.50 20.20 1. b) Calculate the percentage (the proportion) of each category in nominal GDP and in real GDP. Using Nominal GDP: [Personal consumption expenditures / Nominal GDP]*100% [Gross private domestic investment / Nominal GDP]*100% [Net exports of goods and services /...
MUST BE 2017 Data exercise #1 Part 1: Expenditures Approach to Calculating GDP (weight 25% of...
MUST BE 2017 Data exercise #1 Part 1: Expenditures Approach to Calculating GDP (weight 25% of the assignment grade) Complete the following exercise Visit the Bureau of Economic Analysis website at www.bea.gov. From the drop-down menu under “Data”, click on “by Economics Account”. Then click on “National”, “Gross Domestic Product, and “Full Release and Tables”. Use table 3 (Gross Domestic Product: Level and Change from Preceding Period). The left columns are nominal GDP (and its components) and the right half...
Part 1: Expenditures Approach to Calculating GDP (weight 25% of the assignment grade) Complete the following...
Part 1: Expenditures Approach to Calculating GDP (weight 25% of the assignment grade) Complete the following exercise. Visit the Bureau of Economic Analysis website at www.bea.gov. From the drop-down menu under “Data”, click on “by Economics Account”. Then click on “National”, “Gross Domestic Product, and “Full Release and Tables”. Use table 3 (Gross Domestic Product: Level and Change from Preceding Period). The left columns are nominal GDP (and its components) and the right half represents real GDP (chained 2012 dollars)...
**This question has been asked and answered once already with OLD data, please note you will...
**This question has been asked and answered once already
with OLD data, please note you will need to visit the website below
as stated in the question or go by the table/chart provided at the
bottom**
Visit the Bureau of Economics Analysis website at www.bea.gov. From
the drop-down menu under "Data", click on "by Economics Account".
Then click on "National", "Gross Domestic Product" and "Full
Release and Tables". Use table 3 (Gross Domestic Product: Level and
Change from Preceding Period)....
1. Using the data available and applying the Compound Annual Percent Change formula, compute the annual...
1. Using the data available and applying the Compound Annual Percent Change formula, compute the annual growth rates of the following GDP components. Type in the formula you use & show your calculations. Report in your answer the values for "m" and "n." a. Calculate the compound annual percent change in Real GDP (billions of (2012) chained dollars) from 2016 to 2019, using ANNUAL DATA. 2016= 17,688.9 2019= 19,073.1 b. Calculate the compound annual percent change in Real Personal Consumption...
SIMPLIFIED NATIONAL INCOME ACCOUNTS MODEL OF MACROECONOMY 4011 Adapted from Bureau of Economic Analysis 03/12/2018 4th quarter/data in billions of U.S.$ (preliminary) 50 00. Statistical discrepan...
SIMPLIFIED NATIONAL INCOME ACCOUNTS MODEL OF MACROECONOMY 4011 Adapted from Bureau of Economic Analysis 03/12/2018 4th quarter/data in billions of U.S.$ (preliminary) 50 00. Statistical discrepancy 01. Net foreign factor income N.F.F. by USA owned production abroad.228 2,421 02. U.S. ExportsX 03. U.S. Imports (M) .3,021 .914 04. Corporate Income Tax/Corporate Profits Tax (CPT . 05. Taxes on Production & Imports (TOP&M 06. Compensation of employees (Wages/Salaries) 07. Personal Consumption Expenditures (C) 08. Personal Income Tax (PIT) 09. Corporate Profits...
Use Table 1 for net earnings (NE) information and Table 3 for net exports (X). How...
Use Table 1 for net earnings (NE) information and Table 3 for
net exports (X). How much was the total domestic saving in the
United States?
Your answer: _______________ ($ billion) (Please round your
answer to one decimal place.)
Table 3: U.S. GDP 2018 (billions of U.S. dollars) Line 3 4 6 10 11 13 Gross domestic product Personal consumption expenditures Goods Durable goods Nondurable goods Services Gross private domestic investment Fixed investment Nonresidential Structures Equipment Intellectual property products Residential...
Item Amount 300 Stock of Capital at end of year (K) Change in Private Inventories (CI) Compensation of Employees-Wages (W) 50 60 Consumption of Fixed Capital-Depreciation (DEPR) Government Consumption and Gross Investment (G) Gross Private Domestic Fixed Investment (FI) Interest (INT) Net Exports (XN) Profits (PROF) Proprietors' Income (PRIN) Purchases of Stocks and Bonds (SB) Rents (RENT) Taxes on Production and Income (TAX) 15 13 -2 13 4 1. (a) Compute Gross Private Domestic Investment (). Show your work. (b)...
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) $200 40 15 300 Disposable Income Net Private Domestic Investment US Imports National Income...
**This question has been asked and answered once already
with OLD data, please note you will need to visit the website below
as stated in the question or go by the table/chart provided at the
bottom**
Visit the Bureau of Economics Analysis website at www.bea.gov. From
the drop-down menu under "Data", click on "by Economics Account".
Then click on "National", "Gross Domestic Product" and "Full
Release and Tables". Use table 3 (Gross Domestic Product: Level and
Change from Preceding Period)....
1. Using the data available and applying the Compound Annual Percent Change formula, compute the annual growth rates of the following GDP components. Type in the formula you use & show your calculations. Report in your answer the values for "m" and "n." a. Calculate the compound annual percent change in Real GDP (billions of (2012) chained dollars) from 2016 to 2019, using ANNUAL DATA. 2016= 17,688.9 2019= 19,073.1 b. Calculate the compound annual percent change in Real Personal Consumption...
SIMPLIFIED NATIONAL INCOME ACCOUNTS MODEL OF MACROECONOMY 4011 Adapted from Bureau of Economic Analysis 03/12/2018 4th quarter/data in billions of U.S.$ (preliminary) 50 00. Statistical discrepancy 01. Net foreign factor income N.F.F. by USA owned production abroad.228 2,421 02. U.S. ExportsX 03. U.S. Imports (M) .3,021 .914 04. Corporate Income Tax/Corporate Profits Tax (CPT . 05. Taxes on Production & Imports (TOP&M 06. Compensation of employees (Wages/Salaries) 07. Personal Consumption Expenditures (C) 08. Personal Income Tax (PIT) 09. Corporate Profits...
Use Table 1 for net earnings (NE) information and Table 3 for
net exports (X). How much was the total domestic saving in the
United States?
Your answer: _______________ ($ billion) (Please round your
answer to one decimal place.)
Table 3: U.S. GDP 2018 (billions of U.S. dollars) Line 3 4 6 10 11 13 Gross domestic product Personal consumption expenditures Goods Durable goods Nondurable goods Services Gross private domestic investment Fixed investment Nonresidential Structures Equipment Intellectual property products Residential...
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