Refer to the information provided in Table Table Federal purchases of goods $Billions 800 Services 500 Imports Change in business inventories Durable goods Nondurable goods Exports Residential investment State and local purchases Nonresidential investment 200 40 300 600 50 200 200 650 Refer to Table The value for gross private domestic investment in billions of dollars is Select one: а. 740. b. 850. С. 890. d. 810.
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- Suppose 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)1. a. Write the components of GDP (from the table) according to the expendituremethod. 1. b. By using the expenditure method, calculate GDP for years 2018 and 2019. 1. c. Explain “Changes in inventories”. If a demand shock occurs in the economy and thedemand falls drastically when prices are flexible, how would “Changes in inventories”account respond this? Why? Country Name Year Exports Consumption Investment Net Exports Government Expenditure Imports Cambodia 2018 61.315 75.209 23.341 -1.699 4.904 63.014 Cambodia 2019 67.209 81.655 26.660 -1.512 5.288 68.721b) calculate gross private domestic investment $_______________ trillion (round to one decimal point) c) based on the information given, calculate personal income $____________ trillion (round to one decimal point) calculate personal disposable income $______________trillion (rounded to one decimal point)
- A country’s GDP is defined by the following equation: GDP = Consumer Spending + Investmentspending. The economy of this country is closed and there’s no government. Investment spendingis defined by the following equation: Investment Spending = Investment (planned) + Investment(unplanned). Investment (planned) is fixed at 350. Consumer spending is defined by thefollowing equation: Consumer spending = 200 + 0.55 (GDP). And for this country, PlannedExpenditure = Consumer Spending + Investment Planned. Based on this information, attempt thefollowing questions:a. “Investment (unplanned) will be negative if GDP is 900” – showing work, test theauthenticity of this statement. b. How do you think GDP (and production) will change if the income of this country is 1500?Explain by deriving Investment (unplanned) for an income of 1500. c. Derive the GDP for which Planned Expenditure = GDP. d. Supposed Investment (planned) was increased to 450. How will income-expenditureequilibrium change. e. Relate…Assume there are only two producing sector Y & Z in an economy. Calculatea) Gross value added at market price by each sector b) National income from the followings:Items Amount in CroresNet factor income from abroad- 20Sales by Y= 1000Sales by Z= 2000Change in stock of Z= -200C Closingstock of Y= 50 Opening stock of Y= 100Consumption of fixed capital by Y & Z= 180Indirect taxes paid by Y & Z= 120Purchase of raw material by Y= 500Purchase of raw material by Z= 600Exports by Z= 70Consider 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?…
- Scenario 5.1Suppose that personal income is $250 billion. Furthermore, assume that retained corporate earnings are $2 billion, social security taxes are $15 billion, social security benefit checks equal $16 billion, the capital consumption allowance is $32 billion, and corporate taxes amount to $40 billion. Refer to Scenario 5.1. What will be the value of net national product in this country?Suppose an economy produces only 2 products that will also be used for directconsumption, as per the article at the end of the exam: chicken wings and donuts. Inthe second quarter of 2021 (the base period), 180,000 pounds of chicken wings wereproduced, at a value of $3.50 per pound, while in the second quarter of 2022,production of chicken wings increased to 200,000 pounds, at a value of $3.75 perpound. In the second quarter of 2021 (the base period), 85,000 donuts were producedat a value of $0.85 per donut, while in the second quarter of 2022, donut productionincreased to 100,000 donuts, each at a value of $0.95 per donut. The population inthis economy is 1000 individuals in 2022, while the number of hours worked in 2022is 5000. Also, the quantities that were produced in 2021 represent the quantities thatwere purchased by the typical household, meaning that everything that was producedwas sold.d. Solve for the amount of labor productivity in the second quarter of 2022.e. Solve for the…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…Consider an economy called Xanadu for which desired aggregate consumptiondepends on income, Y. and the real interest rate, r, according toCd =100+0.7Y - 200r.Xanadu's GDP is Y = 1000 and government spending on goods and services is G=180. Xanadu's desired future capital stock is given byK* = 140 - 100ucwhere luCdenotes the user-cost of capital. The price of capital is PK =2, thephysical depreciation rate is d =0.1 and the existing capital stock is K0= 50. Trapital stock between any period t and the following period t+1 evolves accordng toKt+1 = It+(1-d)Kt where It the level of investment. Assume throughout that net factor payments from abroad (NFP) is equal to zero.Suppose instead that Xanadu is a small open economy facing a world interest rate of 1%. It follows that Xanadu's current account position is equal toA) -16B) -51C) -6D) -8Assume an economy where there are two producers: a wheat producer and a bread producer. In agiven year, the wheat producer grows 3 million tonnes of wheat, of which 2.5 million tonnes aresold to the bread producer at $30 per bushel, and 0.5 million tonnes are stored by the wheatproducer to use as seed for next years crop. The bread producer produces and sells 100 millionloaves of bread to consumers for $3.50 per loaf. Determine GDP in this economy during this yearusing the product and expenditure approaches.