Consider the following table: GDP Depreciation Corporate earnings Transfer Payments Personal Tax Payments National income (NI) equals $11800 billion. (Enter your response as an integer.) Personal income (PI) equals $ billion. (Enter your response as an integer.) Billions of dollars $13,200 1,400 1,250 700 1,000
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- Show all the necessary steps that lead to your answer. 1. Consumption $6000 (in billion) Gross Investment 1500 Indirect business taxes 300 Retained earning 244 Corporate taxes 200 Social securities taxes 900 Government purchases 1500 Export 500 Transfer payments 1000 Net interest 500 Net foreign factor income 4 Depreciation 800 Capital consumption allowance Import 100 Personal income tax 300 a. Calculate GDP from the above figures b. Calculate national income from the above figures c. Calculate personal income from the above figures d. Calculate disposable income from the above figuresCalculate the value of NDPFC if GDPMP is $1200 million, depreciation Is $250 million and the net indirect taxes are $100 millionIf households pay $1,000 in interest payments and receive $1,200 in interest, wages equal $9,000, rental receipts on land are $200, total business profits before taxes are $2,200, depreciation is $1,750, and indirect business taxes are $1,000, then gross domestic income is
- What is Gross Domestic Product if investment spending is $1,879.99, households receive $170.17 in net interest income, wages equal $13,555.17, rental receipts on land are $1, total business profits before taxes are $1,611.03, and indirect business taxes are $1,329.47? Assume all other types of income and depreciation are zero and that other values for potential components of GDP are unknown for this example. Round your answer to two digits after the decimal.When we add depreciation to net investment, we arrive at...............Suppose the data BELOW is for a given year from the annual Economic Report of the President. Calculate GDP using the expenditure approach (Amount in billions of dollars): Corporate profits: $ 305Depreciation: $ 479Gross private domestic investment: $716Personal taxes: $ 565Personal saving: $120Government spending: 924Imports: $ 547Exports: $ 427Personal consumption expenditures: $ 2,966Indirect business taxes: $ 370Contributions for Social Security (FICA): $ 394Transfer payments and other income: $ 967
- Al's Aluminum Company sells $1 million worth of aluminum to Shiny Foil Company, which uses the aluminum to make aluminum foil. Shiny Foil Company sells $3 million worth of aluminum foil as a final product to consumers. How much do the transactions just described contribute to the Gross Domestic Product? options: $3 million. $2 million. $4 million. $1 million.Within the circular flow of income, withdrawals are composed ofA) saving, net taxes and import expenditure.B) consumption, net taxes and import expenditure.C) saving, net taxes and export expenditure.D) saving, investment and import expenditure.The Disposable Income (DI) is: Consumption $ 1,500 Investment $ 355 Government Spending $ 590 Exports $ 70 Imports $ 50 Depreciation $ 200 *Corporate Savings(Retained Earnings) & Taxes $ 125 Social Security Taxes $ 40 Transfer Payments $ 100 Personal Income Taxes $ 100 *Corporate Savings(Retained earnings) = Corporate Profits
- Question 4Select the information you need from the following figures and calculate the nationalincome for the year shown:Government Spending R18 000Depreciation R6 000Investment spending R35 000Net foreign spending R12 000Indirect taxes R14 500Net factor payments (R4 000)Consumer spending R30 000Subsidies R4 000Assume 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 approachConsider below information about Jacaranda Economy and answer the question that follow. Components Value per annum Wages and salaries R12 000 Exports R50 000 Rentals R22 000 Imports R63 700 Interest R9 300 Consumer spending R85 250 Government spending R33 200 Gross capital formation R6600 Using the table above, which approach can be used to calculate Jacaranda’s Gross Domestic Product? A. Income B. Production C. Expenditure D. Depreciation