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- The following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars. Billions of Dollars Gross private domestic investment $2,200 Depreciation $1,887 Exports $2,820 Imports $300 Government purchases of goods and services $4,421 Personal consumption expenditures $6,200 Indirect business taxes and misc. items $1,241 Income received from other countries $1,018 Income paid to other countries $922 Compensation of employees (wages) $8,074 Corporate profits $1,795 Rental income $265 Net interest $803 Proprietors' income $1,243Using the following information Personal Consumption Expenditure = 1375 Indirect Business Tax = 180 Undistributed Profits = 80 Corporate income Tax = 202 Personal Savings = 68 Depreciation = 173 Transfer Payments to household sector = 228 Personal tax Payments = 203 Find a) Gross National product at market price b) Net National Product at market prices c) National Income d) Personal Income e) Personal Disposable IncomeThe following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars. Billions of Dollars Gross private domestic investment $2,300 Depreciation $1,987 Exports $3,120 Imports $200 Government purchases of goods and services $4,521 Personal consumption expenditures $6,300 Indirect business taxes and misc. items $1,341 Income received from other countries $1,118 Income paid to other countries $1,022 Compensation of employees (wages) $8,174 Corporate profits $1,895 Rental income $365 Net interest $903 Proprietors’ income $1,343 If you calculate GDP by adding together the final demands of consumers, business firms, the government, and foreigners (i.e., using the expenditure approach), GDP for this economy is billion. Given this information, the statistical discrepancy between national income and net national product, obtained when GDP is measured using the expenditure approach, is billion.
- Discuss two shortcomings of using Gross Domestic Product as the primary measure of a country's economic performance.In two sectoral economy reflect if the revenues generated by one sector are equal to the expenditures of the other sector using circular flow diagram. (150-500 Word limit)Find the NDP at market price if GDP at market price is 710 and Depreciation is 650.
- The table below shows the data for the country of Magnolia. Complete the national income accounting framework by filling in the missing data. Remember to enter a minus (-) sign to indicate negative values. Expenditures Consumption Gross investment Government spending Net exports Gross domestic product at market prices 100 Less depreciation Less indirect taxes (net of subsidies) Net domestic product at basic prices +/- net foreign factor income Net national product at basic prices 320 350 30 260 50 160 70 1100 220 100 -10 780 320 06 160 130Consider the following table: GDP Depreciation Corporate earnings Transfer Payments Personal Tax Payments National income (NI) equals $ billion. (Enter your response as an integer.) Billions of dollars $13,200 1,400 1,250 700 1,000A three-sector economy has following input-output coefficient matrix and final demand vector: 0.5 [1000 A = 0.2 0.5 D = 5000 0.4 4000 Find the gross output of each sector.