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You are given the following information about an economy
GDP at Market Prices 1,,669.4
Imports 290.5
Gross Domestic Capital Formation 48.7
Income accruing to the Public Sector 39.0
Exports 273.4
Subsidies 16.8
Factor Payments from Abroad 10.0
Capital Consumption Allowance 10.5
Income Payments to Foreigners 19.2
Direct Taxes 355.6
Public Sector Consumption Expenditure 490.1
Indirect Taxes 297.3
Transfer Payments 25.7
Derive the following:
(i) Disposable Income
(2) Household Consumption Expenditure
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- 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…You are given the following information about an economy: $ Millions GDP 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 -10.5Income Payments to Foreigners -19.2Direct Taxes -355.6Public Sector Consumption Expenditure- 490.1Indirect Taxes -297.3Transfer Payments -25.7 Derive the following:(i) National Income (ii) Net Investment (iii) Personal Income
- You are given the following information about an economy: $ Millions GDP 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 -10.5Income Payments to Foreigners -19.2Direct Taxes -355.6Public Sector Consumption Expenditure- 490.1Indirect Taxes -297.3Transfer Payments -25.7 Derive the following:(iv) Disposable Income (v) Household Consumption ExpenditureNational Income DeterminationThe following figures are from data on Good Island EconomyItems $mNet private investment 940Depreciation 56Compensation of employees 2 256Corporate taxes 416Personal taxes 756Personal Consumption expenditure 4 386Government purchases 3 182Indirect business taxes minus subsidies 482Payment of factor income to the rest of the world 95Corporate profits minus dividends 56Government transfer payments and interest 243Exports 855Receipts of factor income from abroad 186Imports of goods and services 385Social insurance payments 332 Required: Use the above information to answer the followingi.) Calculate for Good Island:a. Gross private investment b. Gross Domestic product c. Gross National Product d. Net National Product e. National income f. Personal Income g. Disposable Personal IncomeSuppose 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…
- Consider the following NIPA data for 1Q2021 (First Quarter 20210 $ billlion) Investment: Non Residential $2,948.3 Exports $2,305.3 PCE Goods $5,183.5 Investment: Residential $1,043.7 Government Expendiures Federal $1,557.0 PCE Services $9,857.7 Imports $3,152.3 Governemnt Expenditures : State and local Goernent Expenditures $2,395.9 Change in private inventories -$90.1 2a. Compute the weights of each of PCE, GPDI, NX and GOV) in GDP 2b. Consider the following rates of change (%) for each of the above items. % change PCE 10.70% GPDI -5.00% NX -6.80% GOV 6.30%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= 70Use 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 R11bn Consumption of fixed capital R32bn Q.3.3 Calculate the value of net national income (NNI) at factor cost.
- Compute the GNP using the Income Approach and Expenditure Approach. Personal Consumption ExpendituresP 1,059,000 Compensation of employees and entrepreneurial & propertyIncome of persons980,000 Government Income31,000 Indirect Taxes132,500 Exports of goods and non-factor services648,200 Fixed Capital Formation232,400 Government Services116,000 Imports of goods and non-factor services648,100 Subsidies3,900 Trade237,000 Increase in Stocks7,200 Corporate Income16,000 Depreciation Allowance176,000 General Government Consumption Expenditures86,500 Net Factor Income From Abroad20,600Suppose the data BELOW is for a given year from the annual Economic Report of the President. Calculate GDP using the expenditure approach (Amount in billions of dollars): Corporate profits: $ 305Depreciation: $ 479Gross private domestic investment: $716Personal taxes: $ 565Personal saving: $120Government spending: 924Imports: $ 547Exports: $ 427Personal consumption expenditures: $ 2,966Indirect business taxes: $ 370Contributions for Social Security (FICA): $ 394Transfer payments and other income: $ 967Country X $m Private Consumption Expenditure 400 Gross Fixed Capital Formation 50 Exports 100 General Government Expenditure 70 Net changes in Physical Stocks + 10 Imports 160 Indirect taxes on goods and services 65 Subsidies 25 Net property inflows from abroad 40 Net property outflows to abroad 30 Capital Consumption 40 What is the Total Domestic Expenditure (TDE) figure at market price for Country X? What is the GDP figure at factor cost for Country X? What is the NNP figure at factor cost for Country X? What is the Gross Domestic Product (GDP) figure at market price for Country X?
