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17 Dec 2018

National income = $24,000
Taxes = $6000
Transfer payments = $1000
Government purchases = $7000
Consumption = $12,000

1. Calculate (economic) investment for this nation, carefully following all numeric instructions.

2. Calculate public savings for this nation, carefully following all numeric instructions.

3. Calculate private savings for this nation, carefully following all numeric instructions.

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Keith LeannonLv2

17 Dec 2018

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Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Value Compensation of employees $196.2; U.S. exports of goods and services 19.8; 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 income 2.2; Personal consumption expenditures 219.1; Statistical discrepancy 0.0;

Instructions: Round your answers to one decimal place.

a. GDP = $ billion

b. NDP = $ billion

c. National Income = $ billion

amethystsnail733

The data below relate to the economic performance of Examland economy for the year 2006. Item Amount in billions of Shs.

Government Purchase 2,250

Corporate profits 1,000

Consumptions of fixed capital 700

Gross private domestic investment 1,500

Personal taxes 400

Personal savings 500

Imports 800

Net interests 350

Rental income 750

Exports 900

Personal consumption expenditure 5,000

Dividends 300

Indirect business taxes 600

Contributions to social security 560

Transfer payments to Households 850

i) Calculate GNP using the expenditure approach.

ii) Determine National Income (NI)

iii} Calculate Disposable personal income (DPI)

lavenderporcupine862

True or False Questions:

1. Recessionary Expenditure Gap- Aggregate expenditures by which aggregate expenditures at the full employment GDP falls short of those required to achieve full employment GDP.

2. Private Closed Economy- An economy that includes consumer, business, and government segments of the economy.

3. Lump-sum taxes- A tax of a constant amount so the government obtains the same amount of tax at each level of GDP.

4. Aggregate Supply schedule- A relationship between a nation's price level and the amount of real domestic output that is produced.

5. Real Rate of Interest effect- The Nominal Rate of Interest earned on a project.

6. Savings- savings are planned investments by the consumer.

7. Wealth effect- The dollar amount of all the assets owned minus the dollar amount of all the liabilities or debt.

8. Savings Schedule - GDP less investment = savings

9. Aggregate Demand Schedule- a schedule that shows the amount of a nation's output (real GDP) that buyers desire to purchase at each price level.

10. Productivity- The measure of the level of the nation of real output and the amount of resources used to produce the output, less labor cost.

11. Multiplier effect- Measures the change in GDP to spending.

12. Injection- Investment by private business into the economy for capital goods is and injection into the economy.

13. Consumption schedule- The measurement of Disposable income less savings.

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