FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

b) Consider an economy which consists of one good called haircuts run by Nchon' gu Prince. Nchon'gu Prince's final market value for his haircuts in

image text in transcribed
image text in transcribed
b) Consider an economy which consists of one good called haircuts run by Nchon' gu Prince. Nchon'gu Prince's final market value for his haircuts in a given period of time is K400. In the process he faces depreciation amounting to K50 and a sales tax of K30. He faces a wage bill of K200, personal taxes of K70 with a level of investment totaling K100. Using the given information, calculate the following: The economy's GDP. [1] Net National Product. [2] National Income. Personal Income. Disposable Income. [2]

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

Step: 3

blur-text-image

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

Theory And Practice Of Public Sector Reform

Theory And Practice Of Public Sector Reform

Authors: Steven Van De Walle, Sandra Groeneveld

1st Edition

1317500113, 9781317500117

More Books

Students also viewed these Economics questions

Question

★★★★★
Suppose you buy call options on Microsoft stock. Each option costs $2 and has a strike price of $40 and an expiration date of July 1. Discuss whether you would exercise the options in each of the...

Answered: 1 week ago

Question

★★★★★
It is false that some A are not B. Therefore, some A are B. Use the modified Venn diagram technique to determine if the following immediate inference forms are valid from the Boolean standpoint,...

Answered: 1 week ago

Question

★★★★★
=+18. Golf clubs. A golf equipment manufacturer wants to test the distances achieved by its newly designed club. They design an experiment by having 10 professional golfers hit shots first with their...

Answered: 1 week ago

Question

★★★★★
Blocks A, B, and C are placed as in Fig. 5.56 and connected by ropes of negligible mass. Both A and B weigh 25.0 N each, and the coefficient of kinetic friction between each block and the surface is...

Answered: 1 week ago

Question

★★★★★
2 The Week worksheet contains data for the week of August 5 . In cell D 7 , insert the appropriate date function to calculate the number of days between the Date Arrived and Date Ordered. Copy the...

Answered: 1 week ago

Question

★★★★★
Please help with this Physics Lab. I need help with #3, as well as checking my answer for #4, and I need help with #5.Thanks! Investigating distance apart: Where do you think we should measure...

Answered: 1 week ago

Question

★★★★★
Since the SUTA rates changes are made at the end of each year, the available 2020 rates were used for FUTA and SUTA Note: For this textbook edition the rate 0.6% was used for the net FUTA tax rate...

Answered: 1 week ago

Question

★★★★★
Change is inevitable when it comes to health and healthcare. Patients are going to have changing diagnoses and have a change in health at any time. In this case study, we saw a few things change...

Answered: 1 week ago

Question

★★★★★
In the Final dept of OMEGA Co. materials are introduced when processing is half-done. In May 19x6, charges to this department were: May 1 inventory, 15000 units (40% done) Received from prior...

Answered: 1 week ago

Question

★★★★★
Blade Angle of Attack. The BK 117 helicopter has the following characteristics: m = 3200 kg f = 1.55 m2 (estimated) _T = 8 = 0.074 = 6.61 (at sea level) R = 5.5 m V_tip = 221 m/s a = 5.79 per radian...

Answered: 1 week ago

Question

★★★★★
Data for Manufacturing Division of a company is as follows: Manufacturing Division Division Current ROI 25% Projected ROI on new Investment Project 17% Corporate Average ROI 15% Investment Required...

Answered: 1 week ago

Question

★★★★★
Income statements for the most recent period for each product line are presented below: Product A Product B Product C Sales $3,000 $900 $480 -Variable manufacturing costs -2,100 - 700 - 300 -Variable...

Answered: 1 week ago

Question

★★★★★
6. What is meant by: accessibility carries greater weight than relevance?

Answered: 1 week ago

Question

★★★★★
1. To learn how to develop a vision that can be communicated. To gain insight into the importance of game theory for communication strategies.

Answered: 1 week ago

Question

★★★★★
9. Take a view or attitude that you hold strongly. Search for information that is opposed to this view or attitude. Discuss.

Answered: 1 week ago

Previous Question Next Question