U.S. GDP, 2006 ($Billion; Source: BEA) 9,225 2,209 2,523 -762 13,195 Consumption Investment TABLE 1 Government expenditure Net Exports (trade balance) Gross domestic product China GDP, 2006 ($Billion; Source: IMF) Consumption 1,183 Investment 1,411 459 297 3,349 Government expenditure Net Exports (trade balance) Gross domestic product

U.S. GDP, 2006 ($Billion; Source: BEA) 9,225 2,209 2,523 -762 13,195 Consumption Investment TABLE 1 Government expenditure Net Exports (trade balance) Gross domestic product China GDP, 2006 ($Billion; Source: IMF) Consumption 1,183 Investment 1,411 459 297 3,349 Government expenditure Net Exports (trade balance) Gross domestic product

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter19: Measuring Economic Performance

Section: Chapter Questions

Problem 6P

See similar textbooks

Similar questions

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?
#9 Gross Private Domestic Investment $ 46 Exports of the U.S. 9 Disposable Income 190 Personal Saving 10 Government Purchases 84 Net Foreign Factor Income 10 Consumption of Fixed Capital 52 Dividends 13 Imports of the U.S. 12 Taxes on Production and Imports 22 Personal Taxes 38 Social Security Contributions 23 Statistical Discrepancy 0 Refer to the accompanying data. All figures are in billions of dollars. Personal income is
What is the term for the total value of goods and services produced within a country's borders in a given year? A. Gross national product (GNP) B. Gross domestic product (GDP) C. Net exports D. Aggregate demand
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
Personal consumption expenditures $5,850 Exports 750 Government spending 1,800 Social Security taxes 900 Depreciation 650 Indirect business taxes 750 Imports 1150 Gross private domestic investment 1200 Corporate income taxes 400 Personal taxes 1000 Corporate profits 550 Transfer payments 800 1) Compute GDP? 2) Compute National Income?
The table gives data about Northland's economy in 2017. What is the value of GDP in Northland in 2017? The value of GDP in Northland in 2017 is _______. A. $2,262 billion B. $1,291 billion C. $971 billion D. $1,439 billion Item Amount (billions) Consumption expenditure 720 Wages 652 Indirect taxes less subsidies 148 Investment 235 Net exports of goods and services 54 Profit 171 Government expenditure on goods and services 282
How is Gross Domestic Product (GDP) measured: A. by counting the nation's expenditures on all final goods and services produced during the year at market price. B. by counting all of what is made by American companies all over the world C. by counting the nation's expenditures on all goods and services used in the production of other goods and services during ;the year at market price D. by counting only what is made by American companies in our nation's borders
(1) Real domestic output (GDP=DI) millions (2) Aggregate Expenditures, private closed economy millions (3) Exports/ millions (4) Imports/ millions (5) Net exports, private economy (6) Aggregate expenditures, open millions RM 350 RM 400 RM 450 RM 500 RM 550 RM 600 RM 650 RM 700 RM 390 RM 430 RM 470 RM 510 RM 550 RM 590 RM 630 RM 670 RM 35 RM 35 RM 35 RM 35 RM 35 RM 35 RM 35 RM 35 RM 45 RM 45 RM 45 RM 45 RM 45 RM 45 RM 45 RM 45 a) If the equilibrium GDP for a private closed economy is RM550 million (see table above), what is the change in equilibrium GDP caused by the additional net exports when the private close economy is open? b) At an original RM35 million level of exports, what would be net exports and the equilibrium GDP if imports were RM10 million greater at each level of GDP? c) Explain how sticky prices relate to the aggregate expenditure model. d)…
The calculation of a country's GDP encompasses all private and public consumption, government outlays, investments, additions to private inventories, paid-in construction costs, and the foreign balance of trade. (Exports are added to the value and imports are subtracted). Explain how each of the following items are treated in the computation of GDP for 2020. Interest on treasury issued by the Bank of Ghana Social security payments paid to retired employees in Ghana You assisted your parents to weed your family backyard The property income received by a hauler The money received by Martha when she sold her mother’s old blender The monthly allowance a student receives from scholarship secretariat The money received by Matthew Amoako when he bought Afia’s laptop The value of working in progress is $2 billion Asamoah withdraw GHC 5m from his bank accounts to purchase of 1000 shares of GCB Bank stock To protect his employees from the risk of contracting the COVID 19, the…
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Billions Compensation of employees $226.2 U.S. exports of goods and services 19.8 Consumption of fixed capital 11.8 Government purchases 59.4 Taxes on production and imports 14.4 Net private domestic investment 52.1 Transfer payments 13.9 U.S. imports of goods and services 16.5 Personal taxes 40.5 Net foreign factor income 2.2 Personal consumption expenditures 249.1 Statistical discrepancy 0.0 Instructions: Round your answers to 1 decimal place. a. GDP = $ billion b. NDP = $ billion c. NI= $ billion
In an economy, Exports = $2100 million Imports = $1750 million Calculate net exports
.Based on the following table Private consumption expenditure (C) 150 Indirect Taxes 20 Gross private investment Expenditure (I) 60 Subsidies 5 Government Expenditure (G) 40 Transfer payments to households 10 Exports (X) 35 Personal Income Taxes 25 Imports (M) 30 Undistributed dividends 5 Net factor income from the rest of the world 5 Depreciation 5 A)Find Net National Product B)Find Disposable Income