The residents of Ireland earn $250 million of income from abroad. Residents of other countries earn $120 million in Ireland. Therefore, Ireland's net factor payments from abroad are O positive, and its GDP is lower than its GNP. negative, and its GDP is lower than its GNP. negative, and its GDP is higher than its GNP. O positive, and its GDP is higher than its GNP.

The residents of Ireland earn $250 million of income from abroad. Residents of other countries earn $120 million in Ireland. Therefore, Ireland's net factor payments from abroad are O positive, and its GDP is lower than its GNP. negative, and its GDP is lower than its GNP. negative, and its GDP is higher than its GNP. O positive, and its GDP is higher than its GNP.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 29P: The prime interest rate is the rate that banks charge their best customers. Based on the nominal...

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The table given below reports the value of different economic variables of a country during a year.Table 5.4 GNP Data(Adjusted for net factor income from abroad) Net Investment $400 Capital Consumption Allowance $800 Indirect Business Taxes $600 U.S. Exports $200 U.S. Imports $300 Government Purchases $150 Consumption Spending $2,030 Refer to Table 5.4. Compute the GNP of the country.
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Use the information in the table below to answer Q.3.1 to Q.3.3:GDP at market prices R397bnNet primary income payments to the rest ofthe worldR37bnIndirect taxes R23bnSubsidies R11bnConsumption of fixed capital R32bn Q.3.2 Calculate the value of net national product (NNI) at market prices.
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Question Use the data below to calculate the following:I. Net National Income at basic price II. Personal IncomeIII. Disposable Income Compensation of employees 2000Interest 500Rent 700Profits 800Employer’s contribution to social security 20Consumption of fixed capital 100Net indirect tax 250Net exports 70Net factor income to abroad 150Mixed income of self employed 1500Net current transfers from the rest of the world 250Current transfers from the government 100Consumption of fixed capital 200Subsidies 25
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