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- National Income DeterminationThe following figures are from data on Good Island EconomyItems $mNet private investment 940Depreciation 56Compensation of employees 2 256Corporate taxes 416Personal taxes 756Personal Consumption expenditure 4 386Government purchases 3 182Indirect business taxes minus subsidies 482Payment of factor income to the rest of the world 95Corporate profits minus dividends 56Government transfer payments and interest 243Exports 855Receipts of factor income from abroad 186Imports of goods and services 385Social insurance payments 332 Required: Use the above information to answer the followingi.) Calculate for Good Island:a. Gross private investment b. Gross Domestic product c. Gross National Product d. Net National Product e. National income f. Personal Income g. Disposable Personal IncomeYou are given the following information about an economy: $millionsGDP at Market Prices 1,669.4Imports 290.5Gross Domestic Capital Formation 48.7Income accruing to the Public Sector 39.0Retained Business Earnings 75.9Exports 273.4Subsidies 16.8Factor Payments from Abroad 10.0Capital Consumption Allowance…You are given the following information about an economy: $millionsGDP at Market Prices 1,669.4Imports 290.5Gross Domestic Capital Formation 48.7Income accruing to the Public Sector 39.0Retained Business Earnings 75.9Exports 273.4Subsidies 16.8Factor Payments from Abroad 10.0Capital Consumption Allowance…
- The following diagram shows select information for an economy made up of three industries for a particularly year. i+wtr+p Industry 1 f-40 10 Hwtrtp -0 20 90 30 Industry 2 +f-160 i+wtr+p f-0 Industry 3 m- 100 iminterest, wwages/salaries;r=rent pprofit, m=intermediate inputs, s= maket value of total industry output; f=market value of industry output sold as 'final' products. Note: All values are in billions of doll ars What is the gross domestic product (at factor prices) for this economy? none is correct O $400 billion O $600 billion O $330 billion 24237/take/gustion/200 EX$20 Proprietor incme Compensaton of Employees Consumpton of Fied Capita Gross Investment Rents interest 300 10 20 Exports mpots Corporate Profts Taxes on Produdon and imports Net Foreign Factor Income Satistical Discrepancy Reter to the accompanying data. Al figurs are in billons of dolers. Net domentie product is $395. O$375Question 2You have been employed as the chief economist for the economy UWI Land. The head statistician has provided you with the following information:Compensation of Employees900Corporate profits 400Factor income paid to the world 325Factor Income received from the world170Indirect taxes 775Subsidies 125Depreciation 120Consumption of goods 850Net interest 75Rent Income 125Consumption of services 475Residential investments 350Non-residential investments525Government Expenditure 925Imports 700Exports 300Proprietor’s income 300Calculate UWI Land’s GDP using the Income and Expenditure Approach
- From the data below calculate the gross national product at factor cost: Ksh. MillionImports 42,000Value of physical increase in stock 1,300Exports 43,000Capital formation 25,000Government expenditure 29,000Consumer expenditure 84,000Taxes on expenditure 20,000Subsidies 3,000Net property income from abroad 400Consider 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…TheeconomyofGhana ismadeupofthreesectorsnamelyAgriculture,Industryand Se rvice s. The se thre e sectors contribute to the national output. For de cade s prior to the 2000s, the Agricultural sector contributed the most to the national output. Sadly, in recent years however, the sector has been the least contributor to national output. Trends in production of major food crops such as maize, rice and sorghum show that on-farm productivity has stagnated and the exploitable difference between the actual and the potential output of most ofthe crops (yield gap) has widened. Low and inadequate levelsofusageofproductivityenhancingtechnologiessuchasqualityseeds of improved varieties and fertilizer, thin extension services and weak market linkages contributes to the poor agricultural performance. It was against this background that theNPP-led government implemented one of her flagship programmes “Planting for Food and Jobs”. The programme is primarily aimed at making subsidized improved seeds and…
- Agricultural price supports result in governments holding large inventories of agricultural products. Why do you think the government cannot simply give the products away to poor people?Refer to the table given. The gross domestic product (GDP) in billions of TL i .. TL Billions Government purchases Services consumption Receipts of factor income from the rest of the world Nonresidential investment 1000 500 30 650 Exports Durable goods consumption Change in business inventories Imports Nondurable goods consumption Payments of factor income to the rest of the world Residential investment 50 300 40 200 600 50 200 3440 2900 3140 3650The table below shows the data for the country of Magnolia. Complete the national income accounting framework by filling in the missing data. Remember to enter a minus (-) sign to indicate negative values. Expenditures Consumption Gross investment Government spending Net exports Gross domestic product at market prices 100 Less depreciation Less indirect taxes (net of subsidies) Net domestic product at basic prices +/- net foreign factor income Net national product at basic prices 320 350 30 260 50 160 70 1100 220 100 -10 780 320 06 160 130
