Question
Given the following national income accounting data, answer the questions that below. All figures are in billions Personal consumption expenditures................................................. $120 Government transferpayments...........................................................29 Accrued net
Given the following national income accounting data, answer the questions that below. All figures are in billions
Personal consumption expenditures................................................. $120
Government transferpayments...........................................................29
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
Exports...........................................................................................15
Corporation profits before taxes...........................................................34
Wages, salaries, and supplementary labour income...............................113
Indirect taxes (lesssubsidies)..............................................................21
Grossinvestment..............................................................................50
Government current purchases of goods and services..............................40
Imports............................................................................................10
Net investment income from non-residents...........................................(-)10
________________________________________________________________________
a)Usingthe above data, determine GDP(expenditure-based)
_________________________________________________________
b)Usingthe above data, is the balance of trade of this economy positive (+) or negative (-)_______(2marks)
__________________________________________________________
c)Usingthe above data, determine GNP
__________________________________________________________
d)Usingthe above data, determine netinvestment
__________________________________________________________
e)Usingthe above data, is this an expanding economy or a decliningeconomy?_____________________Why?_______________________
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started