"he following table gives data for a small country, Magnolia: Expenditure (in thousands) Component Social Security payments $280 Depreciation $50 Gross private investment $700 Exports $210 Imports $320 Salaries earned by foreigners working in Magnolia $200 Household consumption $850 Purchases of raw materials $300 Government purchases $690 Capital income $310 Salaries earned by Magnolian residents working abroad $210 Jsing the expenditure method, the data show that Magnolia's GDP (in thousands) is $ (Enter your response as an integer.) "he value of Magnolia's GNP (in thousands) is $ (Enter your response as an integer.) Magnolia's GDP differs from its GNP because the

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter17: Production And Growth
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The following table gives data for a small country, Magnolia:
Expenditure
(in thousands)
Component
Social Security payments
$280
Depreciation
$50
Gross private investment
$700
Exports
$210
Imports
$320
Salaries earned by foreigners working in Magnolia
$200
Household consumption
$850
Purchases of raw materials
$300
Government purchases
$690
Capital income
$310
Salaries earned by Magnolian residents working abroad
$210
Using the expenditure method, the data show that Magnolia's GDP (in thousands) is $
(Enter your response as an integer.)
The value of Magnolia's GNP (in thousands) is $
(Enter your response as an integer.)
Magnolia's GDP differs from its GNP because the
Transcribed Image Text:The following table gives data for a small country, Magnolia: Expenditure (in thousands) Component Social Security payments $280 Depreciation $50 Gross private investment $700 Exports $210 Imports $320 Salaries earned by foreigners working in Magnolia $200 Household consumption $850 Purchases of raw materials $300 Government purchases $690 Capital income $310 Salaries earned by Magnolian residents working abroad $210 Using the expenditure method, the data show that Magnolia's GDP (in thousands) is $ (Enter your response as an integer.) The value of Magnolia's GNP (in thousands) is $ (Enter your response as an integer.) Magnolia's GDP differs from its GNP because the
Using the expenditure method, the data show that Magnolia's GDP (in thousands) is $
(Enter your response as an integer.)
The value of Magnolia's GNP (in thousands) is $
(Enter your response as an integer.)
Magnolia's GDP differs from its GNP because the
O A. value of the output produced by factors possessed or owned by residents of Magnolia exceeds the value of the output
produced within the borders of Magnolia.
B. value of Magnolia's exports is exceeded by the value of its imports.
C. income Magnolian residents earned abroad exceeds the income earned by foreigners working in Magnolia.
D. all of the above.
E. A and C only.
Transcribed Image Text:Using the expenditure method, the data show that Magnolia's GDP (in thousands) is $ (Enter your response as an integer.) The value of Magnolia's GNP (in thousands) is $ (Enter your response as an integer.) Magnolia's GDP differs from its GNP because the O A. value of the output produced by factors possessed or owned by residents of Magnolia exceeds the value of the output produced within the borders of Magnolia. B. value of Magnolia's exports is exceeded by the value of its imports. C. income Magnolian residents earned abroad exceeds the income earned by foreigners working in Magnolia. D. all of the above. E. A and C only.
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