Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Country X had the following values for its macroeconomic indicators (in EUR bn): Indicator(left) and Value(right). What is the share of government expenditure in GDP?

Country X had the following values for its macroeconomic indicators (in EUR bn): Indicator(left) and Value(right). What is the share of government expenditure in GDP? (express your answer as a decimal, e.g. 0.78 and not as a percentage, i.e. 78%; round to the third digit after the decimal point.)

Compensation of employees 1200
Other taxes on production 32
Other subsidies on production 5
Gross operating surplus 1100
Adjustments (taxes less subsidies on products) 17
Government expenditure 891

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To calculate the share of government expenditure in GDP you need to sum up all comp... 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

Basic Technical Mathematics

Authors: Allyn J. Washington, Richard Evans

12th Edition

0137529899, 9780137529896

More Books

Students also viewed these Economics questions

Question

licensure as a psychologist in the respective jurisdiction; and

Answered: 1 week ago

Question

3 Find the binary vectors x with 2n-1 dec(x) Answered: 1 week ago

Answered: 1 week ago