From the information in the table below, calculate the following statistics. Personal consumption N1,344 Investment 456 Net nonbusiness interest income 270 Government purchases 480 Profit 406 Employee compensation 1520 Net exports 24 Rents 2 Depreciation 278 Indirect business taxes 156 Corporate retained earnings 249 Net foreign factor income 5 Interest 98 Social Security taxes 150 Transfer payments 300 Personal taxes 214 Statistical discrepancy 0 Gross domestic product b. Gross national product c. Net domestic product

From the information in the table below, calculate the following statistics. Personal consumption N1,344 Investment 456 Net nonbusiness interest income 270 Government purchases 480 Profit 406 Employee compensation 1520 Net exports 24 Rents 2 Depreciation 278 Indirect business taxes 156 Corporate retained earnings 249 Net foreign factor income 5 Interest 98 Social Security taxes 150 Transfer payments 300 Personal taxes 214 Statistical discrepancy 0 Gross domestic product b. Gross national product c. Net domestic product

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Production And Growth

Section: Chapter Questions

Problem 5CQQ

See similar textbooks

Similar questions

National Income DeterminationThe following figures are from data on Good Island EconomyItems $mNet private investment 940Depreciation 56Compensation of employees 2 256Corporate taxes 416Personal taxes 756Personal Consumption expenditure 4 386Government purchases 3 182Indirect business taxes minus subsidies 482Payment of factor income to the rest of the world 95Corporate profits minus dividends 56Government transfer payments and interest 243Exports 855Receipts of factor income from abroad 186Imports of goods and services 385Social insurance payments 332 Required: Use the above information to answer the followingi.) Calculate for Good Island:a. Gross private investment b. Gross Domestic product c. Gross National Product d. Net National Product e. National income f. Personal Income g. Disposable Personal Income
Compute the GNP using the Income Approach and Expenditure Approach. Personal Consumption ExpendituresP 1,059,000 Compensation of employees and entrepreneurial & propertyIncome of persons980,000 Government Income31,000 Indirect Taxes132,500 Exports of goods and non-factor services648,200 Fixed Capital Formation232,400 Government Services116,000 Imports of goods and non-factor services648,100 Subsidies3,900 Trade237,000 Increase in Stocks7,200 Corporate Income16,000 Depreciation Allowance176,000 General Government Consumption Expenditures86,500 Net Factor Income From Abroad20,600
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
1. High incoime family. Income before tax: $500,000 tax rate 37% taxes paid $185,000 after tax income $315,000. 2. Middle income family. Income before tax: $50,000. tax rate 20% taxes paid 10,000 after tax income $40,000 3. Low income family. Income before tax: $20,000 tax rate 10% taxes paid $2,000 after tax income $18,000 Using the table, what is the ratio of a high-income family's income to a low-income family's income before and after taxes?
You are employed by the state bureau of economic development. There is a demand for a leading economic index to review past economic activity and to forecast future economic trends in the state. You decide that several key factors should be included in the index: number of new businesses started during the year, number of business failures, state income tax receipts, college enrollment, and the state sales tax receipts. Here are the data for 2000 and 2018. 2000 2018 New businesses 1,240 1,325 Business failures 600 496 State income tax receipts ($ millions) 185.2 220.8 College student enrollment 242,299 291,291 State sales tax ($ millions) 55.1 57.4 The weights you assign are: new businesses 15%, business failures 10%, income tax 42%, enrollment 13% and sales tax 20%. b. Compute the leading economic indicator for 2018. (Round your answer to 2 decimal places.) c. Interpret the indexes. (Round your answer to 2 decimal places.) Economic activity has (increased or decreased) _____%…
Using the following data provide estimate of the following key national accounting aggregates: a. Gross value added b. Gross national income
Exports of goods and services 1,872 Imports of goods and services 2,375 Net unilateral transfers -99 Net Investment Income 170 Capital Account -7 Net US acquisition of financial assets 958 Net US incurrence of liabilities 1,391 Net financial derivatives -14 Based on table above, the statistical discrepancy is Group of answer choices 15 8 0. -8 -15
The data below shows the components of country A’s national income in 2015. S/NO ITEMS IN MILLION GHȼ I Net Domestic Capital Formation 500 II Compensation of Employees 1850 III Depreciation 100 IV Government Final Consumption Expenditure 1100 V Private Final Consumption Expenditure 2600 VI Rent 500 VII Dividend 200 VIII Interest 650 IX Net Export -100 X Profit 1100 XI Net Factor Income From Abroad -50 XII Indirect Tax 250 XIII Subsidies 200 Using the expenditure and the income based approaches, calculate Gross domestic product at market price Gross national product at market price Gross national product and Net national product at factor cost
Using the data, provide estimates of the following key National Accounting Aggregates: a) Gross Value Addedb) Gross National Incomec) Disposable Incomed) Gross Savings
Discuss data analysis in qualitative research detailing how a researcher prepares qualitative data for analysis. Inyour discussion, distinguish between quantitative and qualitative data analysis using examples where appropriate.
Question 1Explain the expenditure measure of GDP. What is the underlying assumption of this measure? Provide one example where the underlying assumption is violated. Explain the income measure of GDP. What is the underlying assumption of this measure? Provide one example where the underlying assumption is violated. Explain why we need to compute nominal GDP, real GDP, and per capita GDP.
Consider a Melanesian island nation in the South Pacific, which had a population of 0.88 million in 2010. The table below presents the nominal GDP and the GDP deflator (based on 2005 being the base year) for the years 2010, 2015 and 2020.YearNominal GDP ($millions)GDP Deflator201017500103.7201518222104.8202018755105.9Over each 5-year period, there were no significant changes to goverment policies or capital investment, and the country experienced a net migration of 0%. However, over the first five years (2010 to 2015), the growth rate of births was 12.5% while the growth rate of deaths was 7.5%. This resulted in a 5% population growth. Over the second five years (2015 to 2020), health care significantly improved such that the growth rate of births increased to 15% while the growth rate of deaths decreased to 5%. In 2010 employment population ratio is 64%. What is the real GDP per worker in 2010.

SEE MORE QUESTIONS

Recommended textbooks for you

Brief Principles of Macroeconomics (MindTap Cours…

Economics

ISBN:

9781337091985

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Economics For Today

Economics

ISBN:

9781337613040

Author:

Tucker

Publisher:

Cengage Learning

MACROECONOMICS FOR TODAY

Economics

ISBN:

9781337613057

Author:

Tucker

Publisher:

CENGAGE L

Brief Principles of Macroeconomics (MindTap Cours…

Economics

ISBN:

9781337091985

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Economics For Today

Economics

ISBN:

9781337613040

Author:

Tucker

Publisher:

Cengage Learning

MACROECONOMICS FOR TODAY

Economics

ISBN:

9781337613057

Author:

Tucker

Publisher:

CENGAGE L

SEE MORE TEXTBOOKS

GET THE APP

About FAQ Academic Integrity Sitemap Document Sitemap

Contact Bartleby Contact Research (Essays)High School Textbooks Literature Guides Concept Explainers by Subject Essay Help Mobile App

GET THE APP

Privacy

Your CA Privacy Rights

Your NV Privacy Rights

About Ads

Manage My Data

bartleby, a Learneo, Inc. business

Personal consumption	N1,344
Investment	456
Net nonbusiness interest income	270
Government purchases	480
Profit	406
Employee compensation	1520
Net exports	24
Rents	2
Depreciation	278
Indirect business taxes	156
Corporate retained earnings	249
Net foreign factor income	5
Interest	98
Social Security taxes	150
Transfer payments	300
Personal taxes	214
Statistical discrepancy	0