Homework Answers
Total income = $18,566
a. Corporate Profits = $2,085
Share of corporate profits in total income = 
So corporate profits consisted of 11.2% of income.
b. Rents = $705
Share of rents in total income = 
So, rents consisted of 3.8% of income.
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Refer to the data below to answer the following questions: $10,101 2,085 The Equivalence of Expenditure...
Refer to the data below to answer the following questions: $10.101 2.085 The Equivalence of Expenditure...
Refer to the data below to answer the following questions: $10.101 2.085 The Equivalence of Expenditure and Income in billions of dollars) Expenditure Income C: Consumer goods and services $12,753 Wages and salaries Corporate profits I: Investment in plants, equipment, and inventory 3,035 Proprietors' income G: Government goods and services 3,277 Rents Interest X: Exports 2.260 Taxes on output and imports Depreciation M: Imports (2,733) Statistical discrepancy GDP: Total value of output $18,566 Total value of income 1,418 1.418 "705...
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...
Question 1 (4 marks) Below is a list of domestic output and national income figures for...
Question 1 (4 marks) Below is a list of domestic output and national income figures for a given year. All figures are in billions. The questions that follow ask you to determine the major national income measures by both the expenditure and income methods. The results you obtain with the different methods should be the same 7 $245 541 182 143 585 274 204 130 335 115 Personal consumption expenditures Net foreign factor income Transfer payments Rents Statistical discrepancy Consumption...
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 $35...
Provided below are national income accounting data of an economy (S billions) for a year. S Billions 22 Personal T...
Provided below are national income accounting data of an economy (S billions) for a year. S Billions 22 Personal Taxes Social Security Contributions Rents Taxes on Production & Imports Corporate Income Taxes Interest 15 18 20 25 22 42 Proprietors Income Transfer Payments Dividends 30 16 Compensation of Employees Exports Undistributed Corporate Profits Government Purchases Net Private Domestic Investment Imports Personal Consunmption Expenditures Consumption of Fixed Capital (Depreciation) Net Foreign Factor Income Personal Saving Corporate Profits Statistical Discrepancy 225 15...
Given these data, what is the value of GDP? Provide your answer in the blank. Amount...
Given these data, what is the value of GDP? Provide your answer in the blank. Amount ($) 1,628 659 2,413 Category Federal Government Consumption and Gross Investment Interest Income Gross Private Investment Services Depreciation Durable Goods Proprietors' Income Employee Compensation Rental Income Corporate Profits State and Local Government Consumption and Gross Investment Net Income of Foreigners Nondurable Goods Imports Indirect Business Taxes Exports 1,707 1,170 1,165 7,648 227 1.766 1,100 -430 2,815 1,150 1,155 337 12,200
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....
Below is a list of domestic output and national income figures for a certain year. All...
Below is a list of domestic output and national income figures for a certain year. All figures are in billions. The questions that follow ask you to determine the major national income measures by both the expenditures and the income approaches. The results you obtain with the different methods should be the same. Value $265 Value 11 16 243 12 14 Category Personal consumption expenditures Net foreign factor income Transfer payments Rents Statistical discrepancy Consumption of fixed capital (depreciation) Social...
only need help on 3 NATIONAL INCOME ACCOUNTS Use the data below to answer questions 1-3:...
only need help on 3
NATIONAL INCOME ACCOUNTS Use the data below to answer questions 1-3: Consumption Expenditures Wages Rent Interest Income Corporate Profits Proprietors' Income Farm Income Personal Income Personal Taxes $8,000 billion $7,000 billion 150 billion S 500 billion S 500 billion $800 billion S 150 billion $9,000 billion $ 900 billion 1. National income (NI) is equal to $7,000 billion $8,200 billion $9,900 billion $9,100 billion b. d. 2. Disposable income (DI) is equal to $7,100 billion...
Refer to the data below to answer the following questions: $10.101 2.085 The Equivalence of Expenditure and Income in billions of dollars) Expenditure Income C: Consumer goods and services $12,753 Wages and salaries Corporate profits I: Investment in plants, equipment, and inventory 3,035 Proprietors' income G: Government goods and services 3,277 Rents Interest X: Exports 2.260 Taxes on output and imports Depreciation M: Imports (2,733) Statistical discrepancy GDP: Total value of output $18,566 Total value of income 1,418 1.418 "705...
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...
Question 1 (4 marks) Below is a list of domestic output and national income figures for a given year. All figures are in billions. The questions that follow ask you to determine the major national income measures by both the expenditure and income methods. The results you obtain with the different methods should be the same 7 $245 541 182 143 585 274 204 130 335 115 Personal consumption expenditures Net foreign factor income Transfer payments Rents Statistical discrepancy Consumption...
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 $35...
Provided below are national income accounting data of an economy (S billions) for a year. S Billions 22 Personal Taxes Social Security Contributions Rents Taxes on Production & Imports Corporate Income Taxes Interest 15 18 20 25 22 42 Proprietors Income Transfer Payments Dividends 30 16 Compensation of Employees Exports Undistributed Corporate Profits Government Purchases Net Private Domestic Investment Imports Personal Consunmption Expenditures Consumption of Fixed Capital (Depreciation) Net Foreign Factor Income Personal Saving Corporate Profits Statistical Discrepancy 225 15...
Given these data, what is the value of GDP? Provide your answer in the blank. Amount ($) 1,628 659 2,413 Category Federal Government Consumption and Gross Investment Interest Income Gross Private Investment Services Depreciation Durable Goods Proprietors' Income Employee Compensation Rental Income Corporate Profits State and Local Government Consumption and Gross Investment Net Income of Foreigners Nondurable Goods Imports Indirect Business Taxes Exports 1,707 1,170 1,165 7,648 227 1.766 1,100 -430 2,815 1,150 1,155 337 12,200
Below is a list of domestic output and national income figures for a certain year. All figures are in billions. The questions that follow ask you to determine the major national income measures by both the expenditures and the income approaches. The results you obtain with the different methods should be the same. Value $265 Value 11 16 243 12 14 Category Personal consumption expenditures Net foreign factor income Transfer payments Rents Statistical discrepancy Consumption of fixed capital (depreciation) Social...
only need help on 3
NATIONAL INCOME ACCOUNTS Use the data below to answer questions 1-3: Consumption Expenditures Wages Rent Interest Income Corporate Profits Proprietors' Income Farm Income Personal Income Personal Taxes $8,000 billion $7,000 billion 150 billion S 500 billion S 500 billion $800 billion S 150 billion $9,000 billion $ 900 billion 1. National income (NI) is equal to $7,000 billion $8,200 billion $9,900 billion $9,100 billion b. d. 2. Disposable income (DI) is equal to $7,100 billion...
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