You have been appointed chief economist of a small economy of Uhuru. Use the information below which relates to Uhuru in 2020 and answer the questions that follow: National Income Accounting Totals in Uhuru for 2020 R (millions) Consumption 86 495 Gross Capital Formation 9 897 Government spending 12 458 Net exports 8 891 Primary income payments to the rest of the world 2 154 Primary income receipts 924 Consumption of fixed capital 165 Subsidies 325 Тахes 467 Q.3.4 Besides the method used in Q.3.1, mention two other methods that can be used to calculate gross domestic product.

You have been appointed chief economist of a small economy of Uhuru. Use the information below which relates to Uhuru in 2020 and answer the questions that follow: National Income Accounting Totals in Uhuru for 2020 R (millions) Consumption 86 495 Gross Capital Formation 9 897 Government spending 12 458 Net exports 8 891 Primary income payments to the rest of the world 2 154 Primary income receipts 924 Consumption of fixed capital 165 Subsidies 325 Тахes 467 Q.3.4 Besides the method used in Q.3.1, mention two other methods that can be used to calculate gross domestic product.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter32: Macroeconomic Policy Around The World

Section: Chapter Questions

Problem 30P: Retrieve the following data from The World Bank database (http //databank.worldbank. org/data/...

See similar textbooks

Similar questions

Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category Amount (in billions) Wages and Salaries 1000Consumption 1700Investment 700Depreciation 50Government Expenditure100Taxes 300Exports 50Imports 40Income receipts from rest of the world10Income payment to rest of the world50 What are net exports for China? 4. Suppose that GDP in Japan is 1030 and then grows to 1160 (all numbers in billions)What is the growth rate of GDP in Japan?Use the following information to answer questions 5 through 15: The tables below show data on prices and quantities of Oranges and Shoes produced in China. Data for 2014Price of Oranges Quantity of Oranges Price of Shoes Quantity of Shoes0.7 200 10 270Data for 2015Price of Oranges Quantity of Oranges Price of Shoes Quantity of Shoes0.9 150 14 250Data for 2016Price of Oranges Quantity of Oranges Price of Shoes Quantity of Shoes1.4 300 15 3305. Given this data, what is the Nominal GDP in 2014?6. What is the Nominal GDP in…
Use the following composition of expenditure for the economy of a country named the Republic of Tapuwa, for the year ended 2019 to answer the questions below:COMPONENTR millionsConsumption expenditure (C) Investment (I)Government spending (G) Exports (X)Imports (Z)DepreciationForeign payment to the rest of the worldForeign payment from the rest of the worldShow all calculations and formulae.9 000 6 500 7 000 1 800 2 400 700 300250 Compute the value for the country’s GDP (Gross Domestic Product) at market price. Determine the value of the country’s NNI (Net National Income) at market price.If it is predicted that the GDP will increase to 22 000 in 2020, calculate the growth rate between 2019 and 2020.Q.7.2.5The measure of GDP for economic growth is not always perfect. Describe any two problems that are associated with GDP as a measure of economic growth.
Time remaining: 01:59:30 Economics 1: Suppose the nation of Utopia has the following national income and product accounts.Depreciation 50Exports 65GDP 500Gross Private Domestic Investment 90Government Purchases of goods & services 100Government transfer payments 80Imports 75Income paid to foreigners for their contribution to domestic output 15Income received by citizens for factors of production supplied abroad 20a. What are Personal Consumption Expenditures?b. What is GNP?c. What is Net Private Domestic Investment? 2:Suppose I offer to give you $1000 in two years if you give me $900 today. Is this a good deal if . . a. the interest rate is 2%?b. the interest rate is 5%?c. the interest rate is 10%?
Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category Amount (in billions) Wages and Salaries 1000 Consumption 1700 Investment 700 Depreciation 50 Government Expenditure 100 Taxes 300 Exports 50 Imports 40 Income receipts from rest of the world 10 Income payment to rest of the world 50 1. What are net exports for China? 2. Suppose that GDP in Japan is 1030 and then grows to 1160 (all numbers in billions) what is the growth rate of GDP in Japan?
If you have the following data that representing an economy of a country as follow: transfer payments 355 Indirect taxes 315 Wages 2335 social security deductions 125 personal taxes (direct taxes ) Imports 410 350 Rent 250 income of foreigners inside Jordan 450 145 Exports retained (undistributed) profit 70 Interest 360 50 Depreciations transfer payments 355 income of the Jordanian from abroad 300 Gross private investment expenditures 750 275 corporate taxes Government expenditures 740 Profit 475 According to the above information answer the following questions:
macroeconomics Use the following data to answer the questions below. All figures are in billions. 田 Proprietor's Income Net Exports 66 22 Dividends 32 Wages and Salaries Taxes on Production and Imports Undistributed Corporate Profits Personal Saving Consumption Receipts of factor income Payments of factor income Transfer Payments 446 36 42 40 490 20 12 24 Rent 28 Depreciation Social Security Contributions Interest 54 40 26 Personal Taxes 52 Corporate Income Taxes Corporate Profits Government Purchases 38 112 144 Net Private Domestic Investment 66 A. Calculate GDP by both the expenditures and the income approaches. B. Calculate NDP. C. Calculate NI in two ways. D. Calculate PI from NI E. Calculate DI and Personal saving rate.
Hello. Can you please assist on the follwing question below. You have been appointed chief economist of a small economy of Uhuru. Use the information below which relates to Uhuru in 2020 and answer the questions that follow: National income Accounting Total in uhuru for 2020 Consumption 86 495 Gross capital formation 9 897 Government spending 12 458 Net exports 8 891 Primary income payments to the rest of the world 2 154 Primary income receipts 924 Consumption of fixed capital 165 Subsidies 325 Taxes 467 Q.1 Calculate the gross domestic product (GDP) at market prices for Uhuru in 2020. Q.2 Calculate the net domestic product at market prices for Uhuru in 2020. Q.3 Calculate the net national product at factor cost for Uhuru for 2020.
Use the information in the table to answer the following questions. All numbers are in billions of 2012 dollars Planned Government Net Exports Real GDP (Y) Consumption (c) Investment (I) Purchases (G) (NX) $5,000 $4,500 $500 $700 - $500 S6,000 $5,300 $500 $700 - $500 S7,000 $6,100 S500 $700 - $500 $8,000 $6,900 $500 $700 - $500 S9,000 $7,700 S500 $700 - $500 The equilibrium level GDP is $ billion. The MPC is (enter your response to two decimal places). Suppose that net exports increase by $400 billion. Using the multiplier formula, determine the new level of GDP. A $400 billion increase in net exports leads to a change in spending of $ billion, so the new level of GDP will be $ billion.
The following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars. Billions of Dollars Gross private domestic investment $2,300 Depreciation $1,987 Exports $3,120 Imports $200 Government purchases of goods and services $4,521 Personal consumption expenditures $6,300 Indirect business taxes and misc. items $1,341 Income received from other countries $1,118 Income paid to other countries $1,022 Compensation of employees (wages) $8,174 Corporate profits $1,895 Rental income $365 Net interest $903 Proprietors’ income $1,343 If you calculate GDP by adding together the final demands of consumers, business firms, the government, and foreigners (i.e., using the expenditure approach), GDP for this economy is billion. Given this information, the statistical discrepancy between national income and net national product, obtained when GDP is measured using the expenditure approach, is billion.
Question Hello. Can you please assist on the follwing question below. You have been appointed chief economist of a small economy of Uhuru. Use the information below which relates to Uhuru in 2020 and answer the questions that follow: National income Accounting Total in uhuru for 2020 R (millions) Consumption 86 495 Gross capital formation 9 897 Government spending 12 458 Net exports 8 891 Primary income payments to the rest of the world 2 154 Primary income receipts 924 Consumption of fixed capital 165 Subsidies 325 Taxes 467 Q.1 Calculate the gross domestic product (GDP) at market prices for Uhuru in 2020. Q.2 Calculate the net domestic product at market prices for Uhuru in 2020. Q.3 Calculate the net national product at factor cost for Uhuru for 2020.
If you have the following data that representing an economy of a country as follow: transfer payments 355 Indirect taxes 315 Wages 2335 social security deductions personal taxes (direct taxes ) 125 410 Imports 350 Rent 250 income of foreigners inside Jordan 450 Exports 145 retained (undistributed) profit 70 Interest 360 Depreciations transfer payments 50 355 income of the Jordanian from abroad 300 Gross private investment expenditures 750 corporate taxes 275 Government expenditures 740 Profit 475 According to the above information answer the following questions: 1. find the following values related to GDP accounts : Gross domestic product (GDP) according expenditure approach = Net domestic product (NDP) = Domestic income (DOI) = Gross national product (GNP) = Net national product (NNP) = National income (NI) = Personal income = • Disposable personal income (DPI) = • household savings (S) = Cash Dividends ( distributed profit) = 2. Find the Gross Domestic Product (GDP) according to…
Retrieve the following data from The World Bank database (http //databank.worldbank. org/data/ home.aspx) for India, Spain, and South Africa for the most recent year available: â€¢ GDP in constant international dollars or PPP â€¢ Population â€¢ GOP per person in constant international dollars â€¢ Mortality rate, infant (per 1,000 live births) â€¢ Health expenditure per capita (current U.S. dollars) â€¢ Life expectancy at birth, total (years)