Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Given the following national income accounting data, answer the questions that below. All gu Personal consumption expenditures................................................. $120 Government transfer payments29 Accrued net income of

image text in transcribedimage text in transcribed
Given the following national income accounting data, answer the questions that below. All gu Personal consumption expenditures................................................. $120 Government transfer payments29 Accrued net income of farmers ............................................................. 5 Capital consumption allowance (depreciation) ........................................ 20 Interest and miscellaneous investment income ....................................... 10 Net income of non-farm unincorporated business 12 Exports15 Corporation prots before taxes ........................................................... 34 Wages, salaries, and supplementary labour income ............................... 113 Indirect taxes (less subsidies) .............................................................. 21 Gross Investment50 Government current purchases of goods and services .............................. 40 Imports ............................................................................................ 10 Net investment income from non-residents...........................................(-)10 h) d) Using the above data, determine GDP (expenditure-based) (3 marks) Using the above data, is the balance of trade of this economy positive (+) or negative (-) Using the above data, determine GNP (1 mark) Using the above data, determine net investment (2 mark) Using the above data, is this an expanding economy or a declining economy? (2 marks) Why? (2 marks)

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

More Books

Students also viewed these Economics questions

Question

Explain the relationship between consumption and savings.

Answered: 1 week ago