A three-sector economy has following input-output coefficient matrix and final demand vector: 05 1000 A =| 0.2 05 D = 5000 0.4 4000 Find the gross output of each sector.
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- Assume that a three sector economy in country W the amount of autonomous consumption is RM 300 million with the proportion of increase in income that is spent on consumption is 0.5 an induced tax of 20% is amount of government spending is RM 150 million Requirements Caluclate the national income equilibriumAssume that a three-sector economy in Country W. The amount of autonomous consumption is RM300 million with the proportion of an increase in income that is spent on consumption is 0.5. An induced tax of 20% is imposed by the country. The amount of investment is RM250 million, and the amount of government spending is RM150 million. (i) Calculate the national income equilibrium.Assume you have the following data for a hypothetical country for a specific year (in billions of ZAR):Wages and Salaries: R2,500Interest: R300Rent: R200Profits: R1,000Taxes (Indirect Taxes Minus Subsidies): R400Depreciation: R500Given the data above, which of the following methods of calculating Gross Domestic Product (GDP) may beused?A. Expenditure approachB. Income approachC. Product approachD. Trade approach
- Consider a macroeconomy where the current population is 800 thousand people. Gross domestic private investment is constant $2500 million while consumer expenditure is described by the equation: C = 580+ 0.8DI. The government is fairly active, with a total expenditure of $2000 million and net taxes of $2550 million. Further investigation of the macroeconomy reveals that imports are constant at $3000 million while exports are constant at $2500 million. Currently, the overall price level (GDP deflator) is 118 and the potential GDP level is $13.5 billion. What is the current equilibrium level of real GDP? (report your answer at 2 decimal places and in millions of dollars) 1. What is the current equilibrium level of real GDP 2. what is the current real GDP per capita? 3. what is the value gap?Consider a macroeconomy where the current population is 800 thousand people. Gross domestic private investment is constant $2500 million while consumer expenditure is described by the equation: C = 580 +0.8DI. The government is fairly active, with a total expenditure of $2000 million andnet taxes of $2550 million. Further investigation of the macroeconomy reveals that imports are constant at $3000 million while exports are constant at $2500 million. Currently, the overall price level (GDP deflator) is 118 and the potental GDP level is $13.5 billion.(Question4 of 7)Now, consider that the government decreases taxes by 7.5%. While the change had a direct impact on the economy, other market conditions led to an unanticipated change in the economy. Specifically, imports decrease by 7.5%. At the same time, given the birth rate, mortality rate, and net migration, the economy experienced a 0% change in its population.1. As a result of these events, what is the current equilibrium level of GDP?…Assume that a three-sector economy in Country W. The amount of autonomous consumption is RM300 million with the proportion of an increase in income that is spent on consumption is 0.5. An induced tax of 20% is imposed by the country. The amount of investment is RM250 million, and the amount of government spending is RM150 million. Explain what would happen to the national income equilibrium if the investment changes by RM100 million.
- Which of the following equations is correct for an economy that does not have a government or a foreign sector? Multiple Choice MPC × MPS = 1 MPC/MPS = 1 MPC - MPS = 1 MPC + MPS = 1Suppose you are given the following data for a particular economy (unit: Millions of Euros):Gross National Income mp (GNImp) =1650Investment (I) = 220(Iliq) Net investment = 210Private consumption(C) =1100Net External Income (NEI) = 0Net Indirect Taxes (NIT) = 231Public Spending (G) = 363 Calculate: a) Balance of Goods and Services or Net Exports (NX) and Amortizations/Depreciations (A). b) Net National Product at Base Prices (NNPbp) and Net Domestic Product at Base Prices (NDPbp)Assuming society's MPS is constant at an aggregate of income $2000 aggregate consumption would be
- )Economic activities in a three-sector hypothetical economy for 2020 are given below. Compute GDP using both the expenditure approach and the factor payment approach. There is no government and no depreciation. a) Agriculture: thousands of self-employed farmers. Manufacture: Sigma Auto, Inc. (a car producing company) Service: Super M (a chain of food market) b)Sigma Automobile produced 2,000 small cars, which it sold at $6,000 each, and 200 trucks, which it sold at $8,000 each. Consumers bought 1600 of the cars, and the remaining 400 cars were exported to abroad. Super Market bought all the trucks. c)Sales at Super M markets amounted to $28 million, all of it sold to consumers. d)Self-employed farmers sell all of their products to Super M.Assume that a economy holds two factors of production, human capital managed by native-born workers and low skilled employees. If large migration of low skilled migrants occurs, how will the influence the aggregate GDP of the native population?Knowing that: The formula for economic impact is I(r)=(A)/1-r ---(i) The formula for impact change is ∆I= I'(r)*∆r ---(ii) The formula for percentage change in spending is g(r)=(r)/1-r ---(iii)
