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- File Tools View EXERCISE 2 FOR NATIONAL INCOME [Compatibility Mode] - Word Electricity, gas, and water 64,000 Indirect tax 36,000 KUPTM Subsidies 220,000 Wages and salary KOLEJ UNIVERSITI POLY-TECH MARA KUALA LUMPUR -32,000 ЕСОЗ033/ ЕСO201 - ЕCONOMICS Calculate: EXERCISE FOR CHAPTER 6: NATIONAL INCOME i. Gross domestic product (GDP) at market price. QUESTION 1 Table 1 shows the national income for Zimbabwe in December 2020. 11. Gross national product (GNP) at market price. Table 1: National Income Statistics for Zimbabwe in December 2020. ITEMS RM MILLION Agriculture 48,000 Mining and quarrying 10,000 iii. 111. Gross national product (GNP) at factor cost. Education 12,000 Military 64,000 Telecommunication 84,000 Net payment from abroad 240,000 iv. National income Capital consumption 60,000 Tourism 92,000 Screens 1-2 of 4 100%If exports and imports is US are $450 million and $380 million respectively Calculate the value of net exports(05.02 HC) Review the chart to answer the question that follows. Total Population GDP Country A 5,000 10,000 Country B 10,000 15,000 Country C 2,000 8,000 Country D 1,000 5,000 Which additional type of data would be most important for comparing the standard of living of these countries? Share of budget set aside for defense Percent of territory that is water Number of airports Literacy rate
- United Kingdom Kenya Price per Value of Value of unit (GBP) output Оuаntity Price per Quantity unit (KSh) output (GBP) (KSh) 5000 per 75 650,000 Equipment (millions of 500 unit units) Food 500 10 per kg 125 750 (millions of kg) Total GDP (local currency) a. If equipment is fully tradable, so that the price in Kenyan shillings (KSh) equals the price in pounds times the market exchange rate, what is the market exchange rate? b. Based on its relative price, does it appear that food is tradable? Is it more or less expensive in Kenya, compared to the UK? c. Fill in the table above (ignoring cells with "-"). What is the UK's total GDP in GBP? What is Kenya's total GDP in KSh? d. What is Kenya's GDP in GBP at market exchange rates? e. Following the calculations on pp 28-29 of ED, what is Kenya's GDP in pounds calculated by using UK prices for each individual product and applying that price to Kenya's quantities (that is, using purchasing power parity [PPP])? f. Is the value you calculated in…Calculate the domestic sales of the firm if it's value added is $44,000 , exports are $23,000 and the purchase made are 50,0004. Shifts in production possibilities Suppose the fictional country of Teton produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for rice, an agricultural good, and telephoto lenses, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a technological advance in medicine that allows workers to live longer and have extended careers. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther.
- INDICATOR Population (million) GDP per capita (USD) GDP (USD bn) | 27.6 2014 1.4 2015 1.4 2016 1.4 2017 1.4 2018 1.4 20,361 18,484 16,414 16,524 17,370 25.1 1.8 22.4 -6.3 22.6 -2.3 23.9 -0.2 Economic -1.0 Growth (GDP, annual variation in %) Unemployment| 3.3 Rate Fiscal Balance (% of GDP) Public Debt (% | 45.2 of GDP) 3.4 4.0 4.8 4.9 -2.6 -1.7 -5.3 -8.9 -3.6 48.0 59.1 62.9 61.6 Inflation Rate 5.7 4.7 3.1 1.9 1.0 (CPI, annual variation in %) Exchange Rate (vs USD, aop) Exports (USD billion) Imports (USD billion) International 6.39 6.36 6.63 6.74 6.75 15.0 11.4 8.3 9.4 10.5 7.9 7.5 7.1 6.5 6.7 11.5 10.0 9.5 8.5 8.1 Reserves (USD). iii. Identify two indicators of wellbeing that are not listed in the table above which can be used as superior measures of the standard of living. iv. Calculate the trade balance for Trinidad and Tobago for the period (2014 – 2018). v. Assess the impact of a negative trade balance on a country's external position.The table provides some data for an economy in 2017 and 2018. Calculate labor productivity in 2017 and 2018. What is the growth rate of labor productivity in 2018? >>> Answer to 2 decimal places.(1) Real domestic output (GDP=DI) millions (2) Aggregate Expenditures, private closed economy millions (3) Exports/ millions (4) Imports/ millions (5) Net exports, private economy (6) Aggregate expenditures, open millions RM 350 RM 400 RM 450 RM 500 RM 550 RM 600 RM 650 RM 700 RM 390 RM 430 RM 470 RM 510 RM 550 RM 590 RM 630 RM 670 RM 35 RM 35 RM 35 RM 35 RM 35 RM 35 RM 35 RM 35 RM 45 RM 45 RM 45 RM 45 RM 45 RM 45 RM 45 RM 45 a) If the equilibrium GDP for a private closed economy is RM550 million (see table above), what is the change in equilibrium GDP caused by the additional net exports when the private close economy is open? b) At an original RM35 million level of exports, what would be net exports and the equilibrium GDP if imports were RM10 million greater at each level of GDP? c) Explain how sticky prices relate to the aggregate expenditure model. d)…
- Please no written by hand and no emage Fruit prices and the amounts consumed for 2010 and 2018 are shown. Use 2010 as the base. 2010 2018 Fruit Price Quantity Price Quantity Bananas (pound) $ 0.27 100 $ 0.30 110 Grapefruit (each) 0.26 50 0.63 53 Apples (pound) 0.34 85 0.49 85 Strawberries (basket) 1.01 8 2.47 11 Oranges (bag) 0.91 6 1.23 9 a. Determine the simple price indexes. (Round your answers to 2 decimal places.)Bananas,Grapefruit,Apples,Strawberries,Oranges b. Determine the simple aggregate price index for the two years. (Round your answer to 2 decimal places.)c. Determine the Laspeyres price index. (Round your answer to 2 decimal places.)d. Determine the Paasche price index. (Round your answer to 2 decimal places.)e. Determine Fisher's ideal index. (Round your answer to 2 decimal places.)Find the Net domestic product at the market priceINDICATOR Population (million) GDP per capita (USD) GDP (USD bn) Economic 2014 2018 2015 1.4 2016 1.4 2017 1.4 1.4 1.4 20,361 18,484 16,414 16,524 17,370 27.6 -1.0 25.1 1.8 22.4 -6.3 22.6 -2.3 23.9 -0.2 Growth (GDP, annual variation in %) Unemployment| 3.3 Rate Fiscal Balance (% of GDP) Public Debt (% of GDP) 3.4 4.0 4.8 4.9 -2.6 -1.7 -5.3 -8.9 -3.6 45.2 48.0 59.1 62.9 61.6 Inflation Rate 5.7 4.7 3.1 1.9 1.0 (CPI, annual variation in %) Exchange Rate (vs USD, aop) Exports (USD billion) Imports (USD billion) International 6.39 6.36 6.63 6.74 6.75 15.0 11.4 8.3 9.4 10.5 7.9 7.5 7.1 6.5 6.7 11.5 10.0 9.5 8.5 8.1 Reserves |(USD) iii. Discuss two policy recommendations that the authorities can use to rectify the fiscal balance.