Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

answer asap Suppose you are given the following information about some hypothetical economy and its national income accounts (which nonetheless closely follows the NIPA data

image text in transcribed

answer asap

image text in transcribed
Suppose you are given the following information about some hypothetical economy and its national income accounts (which nonetheless closely follows the NIPA data for 2017 III annualized). Use this information to answer the questions that follow. (Amounts are in billions of dollars) (Chapter 7) Indirect Business Taxes 51261.2 : Corporate profits - 52254.3 l Corporate profits taxes - $895.1 I Retained earnings $389.8 Proprietors' income 51378.6 I Rental Income - $740.3 I Net Interest $598.3 I Exports I 52314.9 Imports 52882.1 Income Receipts from rest of world $914.8 Income Payments to rest of world $712.4 Net National Product - $164317 Government expenditures for Goods and Services 53332.1 I Personal current Transfer receipts 52836.9 I Social Security Taxes (employee 8. employer) $12974 I Personal Consumption expenditures 5133070 I Gross Private Domestic Investment 53178.1 l Disposable personal income I $143515 a. Find National Income. b. Find Wages and Salaries. c. Find the percentage 'Wages and Salaries' is of National income. d. Find Personal Income. e. Find Personal Income Taxes. f. Find Personal Saving. g. Find the percentage Personal Saving is of Disposable Personal Income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics

Authors: R. Glenn Hubbard, Anthony Patrick O Brien

7th edition

134738314, 9780134738116 , 978-0134738321

More Books

Students also viewed these Economics questions

Question

Relax your shoulders

Answered: 1 week ago

Question

Keep your head straight on your shoulders

Answered: 1 week ago

Question

Be straight in the back without blowing out the chest

Answered: 1 week ago