Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The table below shows some of the national income accounts for the economy of Elmwood (all figures are in billions of dollars). Personal income taxes

image text in transcribed
The table below shows some of the national income accounts for the economy of Elmwood (all figures are in billions of dollars). Personal income taxes 200 Indirect taxes (net of subsidies) 170 Corporate profit taxes 50 Exports 55 Government spending on goods and services 270 Disposable income 850 Personal savings 110 Imports 90 Compensation of employees 650 Investment (net) 80 Net foreign factor incomes 15 Gross operating surplus 130 Transfer payments 170 Depreciation 70 Taxes less subsidies on production 90 Other income not paid out 20 From this information, calculate the value of a. Consumption b. Net exports c. Gross investment d. GDP at market prices e. Gross mixed income f. NOP at basic prices g. National income h. 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

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

Sociology Of Economic Innovation

Authors: Francesco Ramella

1st Edition

1317621344, 9781317621348

More Books

Students also viewed these Economics questions

Question

3. How can we use information and communication to generate trust?

Answered: 1 week ago