Economics (Irwin Economics)
21st Edition
ISBN: 9781259723223
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
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Question
Chapter 27, Problem 9RQ
To determine
Relevance of
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The table below includes data for a one-year period required to calculate GDP from
the income side for a teeny-tiny economy.
Gross investment
expenditure
Wages and salaries
Consumption
expenditure
Interest and investment
income
Business profits
Depreciation
Indirect taxes less
subsidies
Net exports
TABLE 5-4
$402.00
$1741.00
$1711.60
$1811.40
$1910.80
$1840.40
O $2004.80
$1302.40
$99.40
$70.40
$199.20
$175.20
$94.00
Refer to Table 5-4. What is the value of net domestic income at factor cost?
Table 7-3 (in $ billion)
consumption =
$1,000.00
inventory investment
$450.00
purchased of new capital goods
$550.00
government purchases
$300.00
exports =
$20.00
imports =
$33.00
purchased of new residential housing
$58.00
Refer to Table 7-3, GDP equals
O $2.345.00
O $2.346.00
O $2,325.00
O $1,925.00
Suppose the information in the following table is for a simple economy that produces only the following four goods: shoes, hamburgers, shirts, and cotton.
Further, assume that all of the cotton is used to produce shirts.
Product
Shoes
Hamburgers
Shirts
Cotton
2009, then the nominal GDP for 2017 equals:
O 18672.5
O 8250
O8750
2009 Statistics
Quantity
100
85
60
11,000
O 10422.5
Price
$52.00
3.00
35.00
0.85
2016 Statistics
Quantity
115
120
55
10,000
Price
$65.00
3.00
30.00
0.70
2017 Statistics
Quantity
110
135
75
11,000
Price
$70.00
3.50
30.00
0.75
If the base year is the year
Chapter 27 Solutions
Economics (Irwin Economics)
Ch. 27 - Prob. 1DQCh. 27 - Prob. 2DQCh. 27 - Prob. 3DQCh. 27 - Prob. 4DQCh. 27 - Prob. 5DQCh. 27 - Prob. 6DQCh. 27 - Prob. 7DQCh. 27 - Prob. 8DQCh. 27 - Prob. 9DQCh. 27 - Prob. 10DQ
Ch. 27 - Prob. 11DQCh. 27 - Prob. 12DQCh. 27 - Prob. 13DQCh. 27 - Prob. 14DQCh. 27 - Prob. 1RQCh. 27 - Prob. 2RQCh. 27 - Prob. 3RQCh. 27 - Prob. 4RQCh. 27 - Prob. 5RQCh. 27 - Prob. 6RQCh. 27 - Prob. 7RQCh. 27 - Prob. 8RQCh. 27 - Prob. 9RQCh. 27 - Prob. 10RQCh. 27 - Prob. 1PCh. 27 - Prob. 2PCh. 27 - Prob. 3PCh. 27 - Prob. 4PCh. 27 - Prob. 5PCh. 27 - Prob. 6PCh. 27 - Prob. 7PCh. 27 - Prob. 8P
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