The value of textiles produces in India by a Malaysian company is included in the Malaysia’s ________ and in the India’s ________ Select one: A. GNP; GNP B. GDP; GDP C. GNP;GDP D. GDP; GNP Income Malaysia citizens earn in the Germany counts in Select one: A. Germany GNP B. Malaysia’s GDP C. Malaysia’s GNP D. both Germany and Malaysia’s GDP

The value of textiles produces in India by a Malaysian company is included in the Malaysia’s and in the India’s Select one: A. GNP; GNP B. GDP; GDP C. GNP;GDP D. GDP; GNP Income Malaysia citizens earn in the Germany counts in Select one: A. Germany GNP B. Malaysia’s GDP C. Malaysia’s GNP D. both Germany and Malaysia’s GDP

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter19: Measuring Economic Performance

Section: Chapter Questions

Problem 9P

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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.
$Millions GDP at market prices 1,669.4 Imports 290.5 Gross domestic Capital Formation 48.7 Income Accruing to the public Sector 39 Retained Business Earnings 75.9 Exports 273.4 Subsidies 16.8 Factor Payments From Abroad 10 Capital Consumption Allowance 10.05 Income Payments to Foreigners 19.2 Direct Taxes 355.6 Public Sector Consumption Expenditure 490.1 Indirect Taxes 297.3 Transfer Payments 25.7 calculate the following: a) National Income b) Net investment c) Personal Income
Country C had made foreign investment in countries A and B. Country C had not received any investment from foreign countries. Assuming no person worked outside his/her own country, answer if C’s GDP was higher than, lower than, or equal to C’s GNP.
GDP measures: the value of production total expenditures income of factors production all the above 2. GDP does NOT include: re-sale of houses durable consumption spending consumption spending for services payment of WVU faculty salaries 3. Suppose that Inventories fall by $2 billion, Consumption increases by $8 billion, Welfare Payments decline by $3 billion, Export increases by $2 billion and Import also increases by $2 billion. Ceteris paribus! By how much should measured-GDP change? $6 billion $8 billion $11 billion $9 billion
Total consumer expenditure 400,000 Government spending 148,000 Gross domestic capital formation 160,000 Value of physical income in stock 8,000 Export of goods. 72,000 Import of goods 68,520 Subsidies 5,560 Taxes on expenditure 6,960 Capital consumption 22,000 Income from abroad 51,600 Income paid abroad 29,600 From the following data country X, you are required to calculate: 1. GDP at factor cost 2. GNP at factor cost 3. NNP
To calculate gross national income(GNI) from gross domestic product (GDP),__ must be added and ___ must be subtracted from GDP. a) primary income payments, primary income reciepts b)primary income receipts,primary income payments c)subsidies for local production, tariffs on production from rest of the world d)taxes from rest of world, subsidies received from rest of world
gross private domestic investment $1593 personal taxes 1113 transfer payments 1683 taxes on production & imports 695 corporate income taxes 213 personal consumption expenditures 7304 consumption of fixed capital 1393 US Exports 1059 dividends 434 government purchases 1973 net foreign factor 10 undistributed corporate profit 290 sociual security contributions 748 US imports 1483 statistical discrepency 50 Refer to the accompanying national income data (in billions of dollars) CORPORATE PROFITS are equal to?
All numbers are in billions of dollars. Consumption $2,290.0 Investment 800.6 Government purchases 850.6 Net exports 178.2 Capital consumption allowance 607.6 Indirect business taxes 423.6 Statistical discrepancy 8.8 Social Security insurance taxes 423.0 Transfer payments 911.2 Undistributed profits 182.0 Corporate profits taxes 155.4 Personal taxes 680.0 Dividends 0.0 Compensation of employees 1600.0 Income earned from the rest of the world 100.0 Income earned by the rest of the world 112.0 Proprietors’ income 800.0 Rental income 290.0 Net interest 46.0. calculate the GDP at market rice and factor cost
1-While calculating GDP, goods and services that are produced and sold illegally and items that are produced and consumed at home are not included because __________ Select one: a. government wants to discourage these production and consumption b. it does not contribute much value to GDP c. these goods and services does not pay taxes d. measuring them is so difficult Clear my choice 2- Country A has a population of 1,000, of whom 700 worked an average of 8 hours a day and had a productivity of 2.5. Country B has a population of 800, of whom 560 worked 8 hours a day and had productivity of 3.0. The country with the higher real GDP is country B. Select one: a. True b. False Clear my choice
Use the following composition of expenditure for the economy of a countrynamed the Republic of Tapuwa, for the year ended 2019 to answer thequestions below: COMPONENT R millions Consumption expenditure (C) 9 000 Investment (I) 6 500 Government spending (G) 7 000 Exports (X) 1 800 Imports (Z) 2 400 Depreciation 700 Foreign payment to the rest of theworld 300 Foreign payment from the rest of the world 250 Q1. Calculate the value of the country’s GDE (Gross DomesticExpenditure). Q2. Compute the value for the country’s GDP (Gross Domestic Product)at market price.
1: National income level in an open economy with government activities and data in the table what is it? Be sure to show how you did the calculation. GDP = 2,000 Gross investment = 500 Net investment = 300 Indirect taxes = 350 Subsidies = 250 Direct taxes = 200 Net foreign factor income = 400
Suppose, GDP at Market Price is $8,000 Consumption expenditure is $1800, Net exports = $600, Imports = $380, Rent = $ 4800, Government expenditure = $700, Interest = $2500 Mixed Income of Self Employed = $ 5500, Profit = $ 2000, Consumption expenditure is $1800, Net Factor Income from Abroad = $1500, Wages = $5000 What would be Net Domestic Product at Factor Cost?