EBK FOUNDATIONS OF ECONOMICS
8th Edition
ISBN: 8220103632225
Author: PARKIN
Publisher: PEARSON
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Chapter 21, Problem 4IAPA
To determine
To find:
Whether the production of the wings of an airline in Japan and assembling of the cars for the U.S. market in a city of the U.S. should appear in which activities of the
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Using the following information. Showing all working and calculate
(i) Personal and disposable income
(ii) Household consumption Expenditure
Question 1
Table 23-1
The following table contains data for Mindalion for the year 2019.
GDP
Income earned by citizens abroad
Income foreigners earn here
Losses from depreciation
Indirect business taxes
Statistical discrepancy
Retained earnings
Corporate income taxes
Social insurance contributions
Interest paid to households by government
Transfer payments to households from government
Personal taxes
Nontax payments to government
$200
$9
$7
$4
$10
$0
$8
C. $198.
d. $200.
$12
$30
$8
$55
$60
$11
Refer to Table 23-1. Disposable personal income for Mindalion in 2019 is
a. $130.
b. $201.
Direction: Choose your answer from the box, and write the letter of your choice on the
space provided.
X. The Expenditure Approach
Y. The Income Approach
Z. The Industrial Origin Approach
1. Imports
2. Mining and Quarrying Industry
3. Indirect Business Taxes
4. Government Consumption Expenditure & Gross Investment
5. Industry Sector
6. Construction Industry
7. Transport and Commerce Industry
8. Exports
- 9. Manufacturing Industry
10. Depreciation
11. Personal Consumption Expenditures
12. Agriculture, Fishery and Forestry Industry
13. Compensation of Employees
14. Trade Industry
15. Net Exports
16. Rental Income of Persons
17. Service Sector
18. Profits
19. Gross Private Domestic Investment
20. Net Interest
Chapter 21 Solutions
EBK FOUNDATIONS OF ECONOMICS
Ch. 21.A - Prob. 1SPPCh. 21.A - Prob. 2SPPCh. 21.A - Prob. 3SPPCh. 21.A - Prob. 4SPPCh. 21.A - Prob. 5SPPCh. 21.A - Prob. 6SPPCh. 21.A - Prob. 7SPPCh. 21.A - Prob. 1IAPCh. 21.A - Prob. 2IAPCh. 21.A - Prob. 3IAP
Ch. 21.A - Prob. 4IAPCh. 21.A - Prob. 5IAPCh. 21.A - Prob. 6IAPCh. 21.A - Prob. 7IAPCh. 21 - Prob. 1SPPACh. 21 - Prob. 2SPPACh. 21 - Prob. 3SPPACh. 21 - Prob. 4SPPACh. 21 - Prob. 5SPPACh. 21 - Prob. 6SPPACh. 21 - Prob. 7SPPACh. 21 - Prob. 8SPPACh. 21 - Prob. 9SPPACh. 21 - Prob. 10SPPACh. 21 - Prob. 1IAPACh. 21 - Prob. 2IAPACh. 21 - Prob. 3IAPACh. 21 - Prob. 4IAPACh. 21 - Prob. 5IAPACh. 21 - Prob. 6IAPACh. 21 - Prob. 7IAPACh. 21 - Prob. 8IAPACh. 21 - Prob. 9IAPACh. 21 - Prob. 10IAPACh. 21 - Prob. 11IAPACh. 21 - Prob. 12IAPACh. 21 - Prob. 1MCQCh. 21 - Prob. 2MCQCh. 21 - Prob. 3MCQCh. 21 - Prob. 4MCQCh. 21 - Prob. 5MCQCh. 21 - Prob. 6MCQCh. 21 - Prob. 7MCQ
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- Text book question can I get help on 1 and 2arrow_forwardGross domestic product is a measure of _______.the nonmarket production of goods and services.the volume of goods and services, which involved in international tradethe goods and services produced strictly by corporations.the money value of all final goods and services produced in a year by the economy.the size of the largest industry in an economy.arrow_forwardHomework Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Compensation of employees. U.S. exports of goods and services Billions $194.2 17.8 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 Statistical discrepancy Instructions: Round your answers to 1 decimal place. a. GDP $ 219.1 0.0 billion b. NDP = $ billion c. NI = $ billionarrow_forward
- Nonearrow_forwardExplain the calculation methods of Gross Domestic Productarrow_forwardQuestion 11 Spending in Economy X Spending in 2017 Category $35 million Consumer $40 million Investment $30 million Government Exports $25 million Imports $25 million What is the Gross Domestic Product (GDP) for Economy X in 2017? $55 million B $105 million $130 million D $155 million 2021Iuminate EducationTM Inc.arrow_forward
- File Tools View EXERCISE 2 FOR NATIONAL INCOME [Compatibility Mode] - Word Electricity, gas, and water 64,000 Indirect tax 36,000 KUPTM Subsidies 220,000 Wages and salary KOLEJ UNIVERSITI POLY-TECH MARA KUALA LUMPUR -32,000 ЕСОЗ033/ ЕСO201 - ЕCONOMICS Calculate: EXERCISE FOR CHAPTER 6: NATIONAL INCOME i. Gross domestic product (GDP) at market price. QUESTION 1 Table 1 shows the national income for Zimbabwe in December 2020. 11. Gross national product (GNP) at market price. Table 1: National Income Statistics for Zimbabwe in December 2020. ITEMS RM MILLION Agriculture 48,000 Mining and quarrying 10,000 iii. 111. Gross national product (GNP) at factor cost. Education 12,000 Military 64,000 Telecommunication 84,000 Net payment from abroad 240,000 iv. National income Capital consumption 60,000 Tourism 92,000 Screens 1-2 of 4 100%arrow_forward1- Answer the following questions, According to given data about Country X, Corporation Tax Insurance Payment Student Grant Payments Export Import Retained Earnings Government Expenditures Depreciations Consumption Payments Personel Taxes A. What is the value of Gross Domestic Product for country X? B. What is the value of Gross National Product for country X? C. What is the value of Net National Product for country X? D.What is the value of National Income for country X? E. What is the value of Personel Income for country X? F. What is the value of Disposable Personel Income for country 25 15 15 25 15 40 X? 400 30 950 60 Indirect Taxes 70 Other Transfer Payments 20 Gross Investments 250 Net Foreign Factor Income Interest Earnings 55 15arrow_forwardNational income accounting for a certain country in the year for 2020 is given in Table 2. Based on the table, answer the following questions. Amount in $ (million) 180 8,120 3,800 1,320 4,230 12,000 10,120 12,100 8,000 3,120 3,240 Items Net factor income Consumption expenditure Public investments Import Export Government expenditure Wages Interest, rent and profit Indirect taxes Subsidies Depreciation a) By using expenditure approach, calculate Gross Domestic Product (GDP) at market price. b) By using income approach, calculate Gross Domestic Product 9GDP) at market price. c) Based on your understanding on Gross Domestic Product (GDP), explain why do you think that GDP Ís important, and what is the limitation of GDP?arrow_forward
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