Payments of factor income to the rest of the world Net private domestic imestment Persoral income taxes 40 160 80 700 Personal corsumption expenditures Dividends 10 Exports Amount of rational income not going to households 70 30 Refer to Table 6.8. The value for personal income in billions of dollars is إختر أحد الخيارات 970 a O 1.110 b O 1.050 cO 1.000 dO
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- One day, Barry the Barber, Inc., collects $400 forhaircuts. Over this day, his equipment depreciates invalue by $50. Of the remaining $350, Barry sends $30to the government in sales taxes, takes home $220 inwages, and retains $100 in his business to add newequipment in the future. From the $220 that Barrytakes home, he pays $70 in income taxes. Based onthis information, compute Barry’s contribution to thefollowing measures of income.a. gross domestic productb. net national productc. national incomed. personal incomee. disposable personal income15. Write short notes on; succession of WTO from GATT. Objectives of WTO Functions of WTOJulie lives for two periods. She works in the first, saves some of her income, and retires inthe second and lives off her savings. For every coconut she saves today, she earns an interestrate of r = 2%. Julie’s generation comprises of 1,000 people and each generation grows byn% relative to the previous one.a. In the first period Julie saves 100 coconuts for retirement. How many coconuts will shehave when she retires?b. Now suppose that the government implements a pay-as-you-go social security system,forcing every person in Julie’s generation to pay 100 coconuts to a social security fund thatwill distribute the money to the currently old. In exchange, when Julie retires each youngperson will pay 100 coconuts to the social security fund, and the revenue will be dividedequally among the future retirees. How much will be the revenue of the social securitysystem, and how many coconuts will each retiree will receive?c. What will have to be the range of values for n so that the government’s…
- What are the primary factors of production (FOP) and how do they drive economic output and factors on income (FOY)?How do we use these FOCs to show that (wtNt)/Yt =(1-α) if Yt = At Ktα Nt1-αQuestion 2You have been employed as the chief economist for the economy UWI Land. The head statistician has provided you with the following information:Compensation of Employees900Corporate profits 400Factor income paid to the world 325Factor Income received from the world170Indirect taxes 775Subsidies 125Depreciation 120Consumption of goods 850Net interest 75Rent Income 125Consumption of services 475Residential investments 350Non-residential investments525Government Expenditure 925Imports 700Exports 300Proprietor’s income 300Calculate UWI Land’s GDP using the Income and Expenditure Approach
- Imagine that the government statisticians who calculate the inflation rate have been updating the basic basket of goods once every 10 years, but now they decide to update it every five years. How will this Change affect the amount of substitution bias and quality/new goods bias?Exercise D25 What role does government play in stabilizing the economy and what are the tradeoffs that must be considered?The market equilibrium price of a goozum is $12, and the equilibrium quantity is 1,000 units. Suppose that every time a goozum is purchased, another citizen’s welfare is improved by $1. At the equilibrium quantity, we can tell that7.
- You just got a job in Washington, D.C. You moveinto an apartment with some acquaintances. All yourroommates, however, are slackers and do not clean upafter themselves. You, on the other hand, can clean fasterthan each of them. You determine that you are 70%faster at dishes and 10% faster with vacuuming. All ofthese tasks have to be done daily. Which jobs shouldyou assign to your roommates to get the most free timeoverall? Assume you have the same number of hours todevote to cleaning. Now, since you are faster, you seemto get done quicker than your roommate. What sortsof problems may this create? Can you imagine a traderelated analogy to this problem?Plz sir solve this economic questionWhy is this economic measuresignificant?