Macroeconomics
10th Edition
ISBN: 9780134896441
Author: ABEL, Andrew B., BERNANKE, Ben, CROUSHORE, Dean Darrell
Publisher: PEARSON
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Question
Chapter 2, Problem 5NP
(a)
To determine
To calculate: the consumption level in the economy from the given information.
(b)
To determine
To calculate: the net exports in the economy from the given information.
(c)
To determine
To calculate: the Gross Domestic Product in the economy with the use of given data.
(d)
To determine
To calculate: the net factor payments from other countries with the use of given data.
(e)
To determine
To calculate the Private savings with the use of given data.
(f)
To determine
To calculate the Government saving with the use of given data.
(g)
To determine
To calculate: National saving with the use of given data.
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Students have asked these similar questions
You have the following annual figures for the New Zealand economy.
Investment expenditure $42.5 billion Government savings -$1.7 billion
Many politicians and commentators would like to see continued increases in investment and current account surpluses rather than deficits. If these events are to occur, what else must be happening in the economy?
1. The Government must raise the retirement age.
2. Government spending must fall
3. National savings (private and government) must rise
4. New Zealand must restrict foreign ownership of land and other assets
You have the following annual data for the New Zealand economy ($bn):
GDP (Y) = 190
Gross National Disposable Income (Yd) = 183
Net exports of goods and services (NX) = 5
Private Consumption (C) = 112
Government consumption (G) = 38
Based on this data, complete the following paragraph (enter numbers only).
Investment (I) is equal to $____bn. The current account (surplus or deficit?) is equal to $_____bn. The capital account part of the balance of payments (which for the purposes of this question includes both capital and financial accounts) therefore shows a ____ of $_____bn. National savings is equal to $______bn.
Current Account
Value
Exports of goods
107,941
Exports of services
44,133
Primary income receipts
36,063
Imports of goods
132,484
Import of services
29,443
Primary income payments
29,750
Net unilateral transfers
-8,349
Capital account
-63
Net acquisition of financial assets
20,972
Net incurrence of liabilities
54,471
Financial derivatives
0
Statistical discrepancy
Based on the table above, the balance of goods is
Chapter 2 Solutions
Macroeconomics
Ch. 2 - Prob. 1RQCh. 2 - Prob. 2RQCh. 2 - Prob. 3RQCh. 2 - Prob. 4RQCh. 2 - Prob. 5RQCh. 2 - Prob. 6RQCh. 2 - Prob. 7RQCh. 2 - Prob. 8RQCh. 2 - Prob. 9RQCh. 2 - Prob. 10RQ
Ch. 2 - Prob. 1NPCh. 2 - Prob. 2NPCh. 2 - Prob. 3NPCh. 2 - Prob. 4NPCh. 2 - Prob. 5NPCh. 2 - Prob. 6NPCh. 2 - Prob. 7NPCh. 2 - Prob. 8NPCh. 2 - Prob. 9NPCh. 2 - Prob. 1APCh. 2 - Prob. 2APCh. 2 - Prob. 3APCh. 2 - Prob. 1WWMDCh. 2 - Prob. 2WWMDCh. 2 - Prob. 3WWMDCh. 2 - Prob. 4WWMDCh. 2 - Prob. 5WWMDCh. 2 - Prob. 6WWMD
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