Question
2. Use the following data: Exports 146 Government spending 206 Consumption 450 Imports 124 Gross investment 131 Net foreign factor income -26 Depreciation 67 Indirect
2. Use the following data:
Exports 146
Government spending 206
Consumption 450
Imports 124
Gross investment 131
Net foreign factor income -26
Depreciation 67
Indirect taxes 84
a. What is the value of GDP at market prices?
b. What is the value of NDP at basic prices?
c. What is the value of net national product at basic prices?
3. In the table below, you are given data for the country of Hemlock
National income $850
Personal income taxes 100
Other income not paid out 55
Corporate profit taxes 50
Undistributed profits 30
Transfer payments 100
a. What is the value of personal income?
b. What is the value of disposable income?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Econometric Analysis
Authors: William H. Greene
5th Edition
130661899, 978-0130661890
