If GDP is $7.5 million, National Income is $7 million, and the allowance for depreciation is...
If GDP is $7.5 million, National Income is $7 million, and the allowance for depreciation is $400 thousand, what is the size of the statistical discrepancy?
Homework Answers
Add Answer to:
If GDP is $7.5 million, National Income is $7 million, and the
allowance for depreciation is...
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All...
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Value Compensation of employees U.S. exports of goods and services Consumption of fixed capital Government purchases Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services Personal taxes Net foreign income Personal consumption expenditures Statistical discrepancy $195.2 18.8 11.8 59.4 14.4 52.1 13.9 16.5 40.5 2.2 219.1 0.0 Instructions: Round your answers...
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (NI. All figures...
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (NI. All figures are in billions. Category Compensation of employees U.S. exports of goods and services Consumption of fixed capital Government purchases Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services Personal taxes Net foreign factor income Personal consumption expenditures Statistical discrepancy Value $194.2 17.8 11.8 59.4 14.4 52.1 13.9 16.5 40.5 2.2 219.1 Instructions: Round your answers to...
Using the following national income accounting data, compute (a) GDP. (b) NDP, and (c) NI. All...
Using the following national income accounting data, compute (a) GDP. (b) NDP, and (c) NI. All figures are in billions Category Compensation of employees U.S. exports of goods and services Consumption of fixed capital Government purchases Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services Personal taxes Net foreign factor income Personal consumption expenditures Statistical discrepancy Value $204.2 17.8 11.8 59.4 14.4 52.1 13.9 16,5 40.5 2.2 229.1 0 Instructions: Round your...
Use the following information to answer the following questions. National income = $10,000 billion Income receipts from...
Use the following information to answer the following questions. National income = $10,000 billion Income receipts from rest of the world = $500 billion Consumption of fixed capital = $1,500 billion Income payments to rest of the world = $400 billion Statistical discrepancy = $1 billion A.) Compute the net national product. B.) Compute the gross national product. C.) Compute the gross domestic product.
1. Find GDP 2.Find NDP 3.Find national income 4. Find personal income 5. Find Disposable Income...
1.
Find GDP
2.Find NDP
3.Find national income
4. Find personal income
5. Find Disposable Income
$307 1722 255 320 1810 55 367 203 Consumption of fixed capital Compensation of employees Taxes on production and imports Transfer payments Personal Consumption expenditures Undistributed corporate profits - Statistical discrepancy Exports Corporate profits Rents Corporate income taxes Proprietors' income Social security contributions Net foreign factor income Dividends Government purchases Gross Private Domestic Investment Interest Imports Personal Taxes 33 88 132 148 0 60...
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...
Problem 7-4 (Algo) Below is a list of domestic output and national income figures for a...
Problem 7-4 (Algo) 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 Category Value Category Value Personal consumption expenditures Net foreign factor income Transfer payments Rents Statistical discrepancy Consumption of fixed capital (depreciation) Social Security contributions...
Could you please answer 7,8,9,10 11 II. Answer the following questions (5 points). You need to...
Could you please answer 7,8,9,10 11
II. Answer the following questions (5 points). You need to use the table below to answer. (hint: answer the question 11 first.) Use the following national income accounting information to answer exercises 7-11: Consumption $ 400 Imports $ 10 Net investment $ 20 7. What is the GDP for this economy? Government purchases $ 100 8. What is the GNP for this economy? Exports $ 20 9. What is the NNP for this economy?...
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...
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...
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Value Compensation of employees U.S. exports of goods and services Consumption of fixed capital Government purchases Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services Personal taxes Net foreign income Personal consumption expenditures Statistical discrepancy $195.2 18.8 11.8 59.4 14.4 52.1 13.9 16.5 40.5 2.2 219.1 0.0 Instructions: Round your answers...
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (NI. All figures are in billions. Category Compensation of employees U.S. exports of goods and services Consumption of fixed capital Government purchases Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services Personal taxes Net foreign factor income Personal consumption expenditures Statistical discrepancy Value $194.2 17.8 11.8 59.4 14.4 52.1 13.9 16.5 40.5 2.2 219.1 Instructions: Round your answers to...
Using the following national income accounting data, compute (a) GDP. (b) NDP, and (c) NI. All figures are in billions Category Compensation of employees U.S. exports of goods and services Consumption of fixed capital Government purchases Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services Personal taxes Net foreign factor income Personal consumption expenditures Statistical discrepancy Value $204.2 17.8 11.8 59.4 14.4 52.1 13.9 16,5 40.5 2.2 229.1 0 Instructions: Round your...
1.
Find GDP
2.Find NDP
3.Find national income
4. Find personal income
5. Find Disposable Income
$307 1722 255 320 1810 55 367 203 Consumption of fixed capital Compensation of employees Taxes on production and imports Transfer payments Personal Consumption expenditures Undistributed corporate profits - Statistical discrepancy Exports Corporate profits Rents Corporate income taxes Proprietors' income Social security contributions Net foreign factor income Dividends Government purchases Gross Private Domestic Investment Interest Imports Personal Taxes 33 88 132 148 0 60...
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...
Problem 7-4 (Algo) 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 Category Value Category Value Personal consumption expenditures Net foreign factor income Transfer payments Rents Statistical discrepancy Consumption of fixed capital (depreciation) Social Security contributions...
Could you please answer 7,8,9,10 11
II. Answer the following questions (5 points). You need to use the table below to answer. (hint: answer the question 11 first.) Use the following national income accounting information to answer exercises 7-11: Consumption $ 400 Imports $ 10 Net investment $ 20 7. What is the GDP for this economy? Government purchases $ 100 8. What is the GNP for this economy? Exports $ 20 9. What is the NNP for this economy?...
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...
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...
Most questions answered within 3 hours.
-
Present value of annuity payments) The state lottery's
million-dollar payout provides for $1.1 million to be...
asked 2 minutes ago -
Which of the following pertains to furanocoumarins
produced by members of the Umbelliferae (like wild parsnip)....
asked 8 minutes ago -
Question 1 (1 point)
Suppose the Federal Aviation Administration (FAA) would like to
compare the on-time...
asked 40 minutes ago -
Balance and classify the following reactions: combination (C),
decomposition (D), single replacement (SR), double replacement (DR)...
asked 15 minutes ago -
A heavy man’s resting weight is 1029 N. He is standing on a
scale on an...
asked 22 minutes ago -
The following reaction describes the oxidation of
pyrite (FeS2) by oxygen in the presence of water:...
asked 30 minutes ago -
Law can create or perpetuate health-harming social conditions.
True /False?
asked 23 minutes ago -
Schedule of Cash Collections of Accounts Receivable Pet Stop
Inc., a pet wholesale supplier, was organized...
asked 29 minutes ago -
Imagine you own a restaurant. Sales are a little slow during the
week, so you decide...
asked 37 minutes ago -
Case 4 Title: Leslie Products Leslie Products LLC was formed by
Marshall classmates Leslie Paulson and...
asked 54 minutes ago -
Consider a drug that is used to help prevent blood clots in
certain patients. In clinical...
asked 1 hour ago -
A calorimeter is a container that is insulated from the outside,
so a negligible amount of...
asked 1 hour ago