3. Consider the following table showing the breakdown of GDP (in billions) for China.GDP CategoryWages and SalariesConsumptionInvestmentDepreciationGovernmentAmount (in billions)1000170070050100ExpenditureТахes300ЕxportsImportsIncome receipts fromrest of the worldIncome payment to rest50401050of the worldWhat are net exports for China?4. Suppose that GDP in Japan is 1030 and then grows to 1160 (all numbers in billions)What is the growth rate of GDP in Japan?

GDP is the sum total of all the goods and services produced within the geographical borders of the…

3. Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category Wages and Salaries Consumption Investment Amount (in billions) 1000 1700 700 Depreciation Government 50 100 Expenditure Тахes Еxports Imports Income receipts from rest of the world Income payment to rest of the world 300 50 40 10 50 What are net exports for China? 4. Suppose that GDP in Japan is 1030 and then grows to 1160 (all numbers in billions)

3. Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category Wages and Salaries Consumption Investment Amount (in billions) 1000 1700 700 Depreciation Government 50 100 Expenditure Тахes Еxports Imports Income receipts from rest of the world Income payment to rest of the world 300 50 40 10 50 What are net exports for China? 4. Suppose that GDP in Japan is 1030 and then grows to 1160 (all numbers in billions)

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter1: Welcome To Economics!

Section: Chapter Questions

Problem 6SCQ: Suppose we extend the circular flow model to add imports and exports. Copy the circular flow diagram...

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Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category Amount (in billions) Wages and Salaries 1000Consumption 1700Investment 700Depreciation 50Government Expenditure100Taxes 300Exports 50Imports 40Income receipts from rest of the world10Income payment to rest of the world50 What are net exports for China? 4. Suppose that GDP in Japan is 1030 and then grows to 1160 (all numbers in billions)What is the growth rate of GDP in Japan?Use the following information to answer questions 5 through 15: The tables below show data on prices and quantities of Oranges and Shoes produced in China. Data for 2014Price of Oranges Quantity of Oranges Price of Shoes Quantity of Shoes0.7 200 10 270Data for 2015Price of Oranges Quantity of Oranges Price of Shoes Quantity of Shoes0.9 150 14 250Data for 2016Price of Oranges Quantity of Oranges Price of Shoes Quantity of Shoes1.4 300 15 3305. Given this data, what is the Nominal GDP in 2014?6. What is the Nominal GDP in…
You are given the following information about an economy: $millionsGDP at Market Prices 1,669.4Imports 290.5Gross Domestic Capital Formation 48.7Income accruing to the Public Sector 39.0Retained Business Earnings 75.9Exports 273.4Subsidies 16.8Factor Payments from Abroad 10.0Capital Consumption Allowance…
You are given the following information about an economy: $millionsGDP at Market Prices 1,669.4Imports 290.5Gross Domestic Capital Formation 48.7Income accruing to the Public Sector 39.0Retained Business Earnings 75.9Exports 273.4Subsidies 16.8Factor Payments from Abroad 10.0Capital Consumption Allowance…
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Suppose we extend the circular flow model to add imports and exports. Copy the circular flow diagram onto a sheet of paper and then add a foreign county as a third agent. Draw a rough sketch of the flows of imports, exports, and the payment for each on your diagram.
Suppose that a country produces 200 million dollar value of total outputin a year. The country produces only two goods: pepperoni pizzas andbottles of soda. The price of a pepperoni pizza is $5 and the price ofa bottle of soda is $2. Draw the country’s iso-value line on a graph. Ifthe price of a pepperoni pizza increases to $8, what will happen to thecountry’s iso-value line?