Aggregate expenditure includes all of the following components except Group of answer choices: Government purchases of goods and services Savings Consumption Net export
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Aggregate expenditure includes all of the following components except
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- Use the following composition of expenditure for the economy of a country named the Republic of Tapuwa, for the year ended 2019 to answer the questions below:COMPONENTR millionsConsumption expenditure (C) Investment (I)Government spending (G) Exports (X)Imports (Z)DepreciationForeign payment to the rest of the worldForeign payment from the rest of the worldShow all calculations and formulae.9 000 6 500 7 000 1 800 2 400 700 300250 Compute the value for the country’s GDP (Gross Domestic Product) at market price. Determine the value of the country’s NNI (Net National Income) at market price.If it is predicted that the GDP will increase to 22 000 in 2020, calculate the growth rate between 2019 and 2020.Q.7.2.5The measure of GDP for economic growth is not always perfect. Describe any two problems that are associated with GDP as a measure of economic growth.In the expenditure approach, the total expenditures of the following entities are calculated, except a. Gross taxable incomes b. Net Exports c. Gross private domestic investment d. Government expendituresDiscuss the expenditure method of measuring national income
- Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Billions Category Compensation of employees U.S. exports of goods and services $205.2 18.8 Consumption of fixed capital Government purchases Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services Personal taxes 11.8 59.4 14.4 52.1 13.9 16.5 40.5 Net foreign factor income Personal consumption expenditures Statistical discrepancy 2.2 229.1 0.0 Instructions: Round your answers to 1 decimal place. a. GDP = $ |billion b. NDP = $ billion c. NI = $ billionTTT Consumption Government Real GDP, Y expenditure, C Investment, I expenditure, G Exports, X Imports, M (trillions of (trillions of 2009 dollars) 2009 dollars) 2009 dollars) 2009 dollars ) 0.00 0.75 (trillions of (trillions of (trillions of (trillions of 2009 dollars) 2009 dollars) 0.00 0.00 1.75 1.00 0.75 3.00 2.00 1.75 1.00 0.75 6.00 4.00 1.75 1.00 0.75 1.50 9.00 6.00 1.75 1.00 0.75 2.25 12.00 8.00 1.75 1.00 0.75 3.00 The above table gives data for the nation of Mojo. The amount of autonomous expenditure is the equilibrium real GDP is and when real GDP equals $9 trillion the unplanned inventory changes equal O $2.75 trillion; $3.0 trillion; $6.0 trillion O $3.5 trillion; $6.0 trillion; $1.75 trillion $2 trillion; $9.0 trillion; $3.0 trillion $3 trillion; $12.0 trillion; $7.25 trillionWhich of the following answer choices best describes a consumption expenditure category in the national income accounting? Multiple Choice both new and used consumer goods automobiles for personal use, but not newly constructed houses consumer durable and nondurable goods, but not services consumer nondurable goods and services, but not consumer durable goods
- Question 2 - Computation and Short AnswerStudents are required to show ALL workings to be awarded the full marks for eachpart of this question.(a) Calculate GDP using the Income and Expenditure Approach. (all figures are in billions of dollars):Item Amount ($)Government purchase of goods and services 1,721.6Exports 1,096.3Receipts of factor income from the rest of the world 382.7Depreciation (consumption of fixed capital) 990.8Net fixed Investments 688.2Corporate income taxes 265.2Consumption expenditures 6,739.4Indirect business taxes 664.6Imports 1,475.8Payments of factor income to the rest of the world 343.7Inventory change 56.5Social security contributions 702.7Undistributed corporate profits (retained earnings) 130.3Government transfer and interest payments 1,366.3Personal interest payments 286.2Personal taxes 1,235.7The table below gives some of the items in the U.S. National Income and ProductAccounts in 1995.ItemAmount(trillions ofdollars)Consumption expenditure 4.97Investment 1.14Government expenditures 1.37Net exports 0.08Wages 4.20Interest, rent, and profit 1.68Depreciation 0.89a) Use the expenditure approach to calculate U.S. GDP in 1995.b) Use the income approach to calculate U.S. net domestic product at factor cost inUsing the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Billions Compensation of employees U.S. exports of goods and services Consumption of fixed capital Government purchases $226.2 19.8 11.8 59.4 Taxes on production and imports 14.4 Net private domestic investment Transfer payments U.S. imports of goods and services 52.1 13.9 16.5 Personal taxes 40.5 Net foreign factor income Personal consumption expenditures Statistical discrepancy 2.2 249.1 0.0 Instructions: Round your answers to 1 decimal place. a. GDP = $ billion b. NDP = $ billion c. NI = $ billion
- The gross domestic product (GDP) of the United States is defined as the _market value of v all final goods and services produced within the United States in a given period of time. Based on this definition, indicate which of the following transactions will be included in (that is, directly increase) the GDP of the United States in 2020. 2020 GDP Scenario Included Excluded Fastlane, a Japanese automobile company, produces a sedan at a plant in Indiana on December 14, 2020. A family buys the sedan on December 24. Rotato, a U.S. tire company, produces a set of tires at a plant in Michigan on September 25, 2020. It sells the set of tires to Speedmaster for use in the production of a two-door coupe that will be made in the United States in 2020. (Note: Focus exclusively on whether production of the set of tires increases GDP directly, and ignore the effect of production of the two-door coupe on GDP.) You chop down a cherry tree on your property in California and make a dining room table in…National Income DeterminationThe following figures are from data on Good Island EconomyItems $mNet private investment 940Depreciation 56Compensation of employees 2 256Corporate taxes 416Personal taxes 756Personal Consumption expenditure 4 386Government purchases 3 182Indirect business taxes minus subsidies 482Payment of factor income to the rest of the world 95Corporate profits minus dividends 56Government transfer payments and interest 243Exports 855Receipts of factor income from abroad 186Imports of goods and services 385Social insurance payments 332 Required: Use the above information to answer the followingi.) Calculate for Good Island:a. Gross private investment b. Gross Domestic product c. Gross National Product d. Net National Product e. National income f. Personal Income g. Disposable Personal IncomeCalculate the PPP-adjusted GDP for each of the four countries, using the information found in the table below. Instructions: Round your answers to the nearest dollar. Country Ona Rye Zolfo Avon GDP ($) 9,000 12,800 14,100 23,100 Price level (%) 8 -24 -12 23 PPP-adjusted GDP 8,333 -3,072 16,022.73 18800 M
