1) Calculate GDP MP and NNPFC from the following Net domestic product at market price Net indirect taxes 8344 Income from domestic product to government Net factor income from abroad -232 Current transfers to household 2305 Depreciation 4486 74905 1972

1) Calculate GDP MP and NNPFC from the following Net domestic product at market price Net indirect taxes 8344 Income from domestic product to government Net factor income from abroad -232 Current transfers to household 2305 Depreciation 4486 74905 1972

Survey of Economics (MindTap Course List)

9th Edition

ISBN:9781305260948

Author:Irvin B. Tucker

Publisher:Irvin B. Tucker

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 13SQ

See similar textbooks

Related questions

Q: 1% MCIT is not applicable to a. Domestic Corporation b. Resident foreign corporation c. Non…

A: MCIT (Municipal Corporation Income Tax): It refers to the tax that is charged on the gross income.…

Q: Explain the DEMAND FOR THREEOUNCE BOTTLES OF SPRING BREAK SUNTAN LOTION?

Q: Q.1/Draw an activity diagram for the following scenario: Passenger who needs to purchase a travel…

A: An activity diagram, like a flowchart or a data flow diagram, visually represents a series of…

Q: Imagine that in a given point in time, t, we observe the following yields: 11 = 2%, izt 4%, and izt…

Q: With the aid of a graphical illustration, explain the deadweight loss from monopoly power. It is…

A: Monopoly is the single seller in the market sale output at higher price and it is determined where…

Q: Using the fixed-time period inventory model, and given an average daily demand of 287 units , 4 days…

A: There are certain economic order quantity assumptions which are:- - Independent demand-Constant lead…

Q: Determine whether the statements is true, false, or uncertain. If the statement is false or…

A: Monopolistic competition refers to the market situation in which firms generate and offer…

Q: Marjorie Randon Hershey argues in the textbook that “Democracy cannot function without parties.”

A: Democracy is a form of ruling a nation or political system where all the citizens have equal right…

Q: A machine with a purchase value of 850,000 dollars and the productive life of the machine is 7…

A: sum of year depreciation method, is an increased depreciation method in which the asset's value…

Q: What was the amount borrowed by Roy on June 1990 if the interest rate is 9% compounded annually?

A: interest rate(i)= 9% or 0.09 Let's consider the amount borrowed in June 1990 as X. Present wealth…

Q: Calculate the capitalized cost of a project with a P3,000,000 beginning cost and an extra P850,000…

A: Capitalized cost would be the present value of all costs that are going to occur in the future…

Q: What two rules does a perfectly competitive firm apply to determine its profit maximizing quantity…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Consider a fictional price index, the University Student Price Index (USPI), based on a typical…

A: Total cost = Price * Quantity Price index = (Total cost in the current year / Total cost in the base…

Q: An economy produces outputs X and Y using inputs L and K. Which of the following is NOT required for…

A: The measure that depicts the ability for achieving an end goal with no little effort being made,…

Q: Determine whether the statements is true, false, or uncertain. If the statement is false or…

A: Corrective tax refers to the government imposed tax to deal with the negative impact of externality.…

Q: The $2.2T Coronavirus Aid, Relief and Economic Security (CARES) Act & the $1.9T American Rescue Plan…

A: Expansionary fiscal policy refers to when the government uses budgetary measures to boost spending…

Q: You want to estimate the price elasticity of demand for sandwiches at the restaurant you manage. In…

A: Answer: Given, Price Quantity $6.50 per sandwich 500 sandwiches $6 per sandwich 581…

Q: __________ refers to any situation in which disequilibrium is caused by one aspect of a society…

A: At the marketplace, disequilibrium is the situation when there is mismatch between the demand and…

Q: Max Pentridge is thinking of starting a pinball palace near a large Melbourne university. His…

A: Given that, His utility is u(W) = 1 - (5,000/W), where W is his wealth.

Q: Describe four ways in which neoclassical economic approaches can contribute to environmental…

A: Neoclassical economic theories can contribute to environmental problems in these ways;

Q: Given the national income model Y= E; E=C+I where C= 280 +0.6Y, Io = 80: (a) Write down the value of…

A: In the aggregate expenditure model, equilibrium occurs where aggregate expenditure equals income.

Q: 10. Using money creation to pay for government spending Consider Snackistan, a hypothetical country…

A: Given; Price of burritos in 2017= $2.00 Amount spent on burritos= $900 a) Quantity of burritos…

Q: Hand written plzz Part 1 The Federal Reserve buys $40.00 million in Treasury securities. If the…

Q: You and two friends have identified a gap in the market in your hometown for work-from-home…

A: The system through which governments or societies tend to distribute and organize services,…

Q: 7 (a) Assume P₁ = 1, P₂ = 2, Y (income) = 100. Point rationing is in force. Government specifies…

A: Utility of the Consumer Consumer utility is the level of enjoyment that an individual consumer…

Q: Assume you have $12,000 in cash. You can deposit it today in a mutual fund earning 8.2%…

A: Given: Cash in hand = $12,000 Interest rate of = 8.2% semiannually Or invest = $11,000 in 2 years…

Q: What is the connection between functionalism andthe concept of equilibrium?

A: Functionalism is related to social studies which includes all the aspects of the society to work on…

Q: The South African economy has been struggling for a number of years. This has (in part) led to…

A: One of the legal procedures to settle disputes related to employment, wages of labor are sorted out…

Q: What are the effects of globalization on food security? A. Supermarkets are so far the only way in…

A: As a rule, globalization diminishes the expense of manufacturing. This implies that organizations…

Q: Consider an income distribution S: (10, 20, 30, 50, 100). Suppose it is divided into two groups,…

A: Poverty line The poverty line in an economy represents the minimum level of income, which shows the…

Q: In what ways is transnational or cross-border organizing easier than it might have been, say, 100…

A: Business entities aim in making profit by expanding their market. In the process of finding new…

Q: Question 1 Analysis of opportunities and prerequisites of investment companies in the market of…

A: Kazakhstan is the former Soviet Union's second-largest republic after Russia, and the world's…

Q: Hand written plzz Part 1 The Federal Reserve buys $40.00 million in Treasury securities. If the…

A: Money multiplier = [1 - Currency deposit ratio] / [Currency deposit ratio + (Required reserve ratio…

Q: What type of an externality is depicted in the graph above and why? b. Suppose the graph refers to…

A: a. The above graph shows the "Negative Externality" because in the given graph it can be seen that…

Q: Are revolutions normally followed by radical changes?

A: Revolution:- The overturning or abandonment of an authoritarian regime or governmental class by the…

Q: bbbb x o (1) (3) Refer to Exhibit 2-6. Which graph depicts a technological breakthrough in the…

A: PPF refers to the two goods possible combinations that can be produced wit given level of technology…

Q: How would you best describe the economic profit (or loss) at the profit maximizing quantity q* in…

A: Monopoly is the market where single seller the goods to the large number of buyers and charge higher…

Q: Question 6 Hand written plzz Imagine that in a given point in time, t, we observe the following…

A: Answer - Expectation theory:- According to this the short term interest rates are in line of long…

Q: The consumption function is given by: C = 200+0.75 (Y-T). The investment function is I =…

A: The question is based on IS-LM Model.

Q: Q18. Consider the following data for Tyrovia, a country that produces only two products: guns and…

A: "GDP represents the market value of all the final commodities and services produced in a nation at a…

Q: Hand written plzz Part 1 The Federal Reserve buys $40.00 million in Treasury securities. If the…

A: Here, it is given that Bank holds an excess reserves apart from the required reserve ratio. This…

Q: Refer to Table 13-1. What is the average total cost of producing one widget? b. $15 a. S1 c. $16 d.…

A: Formula to be used: For all quantities, the fixed cost remains the same. TC=FC+VC VC=TC-FC…

Q: Based on the graph: a. In this market, how much is the external cost from the production of each…

A: Given;

Q: Peg repairs transmissions. Her fixed costs are $300 a month and it costs her $24 of labor to repair…

A: A firm maximises profit at the level of output where marginal revenue (MR) equals marginal cost…

Q: How would you best describe the economic profit (or loss) at the profit maximizing quantity q* in…

A: Answer: (1). A monopolistically competitive firm earns zero economic profit in the long run. In…

Q: Mr Majola owns a shop where he repairs household appliances. He would like to buy a cell phone so…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer first three subparts…

Q: Current Actual Inflation Rate = 6% (like these days) Potential Real GDP=100,000 Actual Real…

A: The Taylor rule is given as,i* = π + 2 + 0.5(π - 2) + 0.5(GDP gap)where,i* = nominal federal funds…

Q: What is the Relationship of Price to Quality?

A: The quality of the product is judged according to its price.

Q: Trans Coaches has since gained more customers since its competitor Ecobus had gone bankrupt.…

A: The number of people wanting and able to acquire things at various prices during a certain period of…

Q: Explain Profit Maximization Pricing?

A: Meaning of Cost Plus Pricing: The term cost-plus pricing refers to the situation under which the…

Question

1) Calculate GDP MP and NNPFC from the following
Net domestic product at market price
74905
Net indirect taxes
8344
Income from domestic product to government 1972
Net factor income from abroad
-232
Current transfers to household
2305
Depreciation
4486

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

What are the main components of measuring GDP with what is demanded?
According to Table 19.7, how often have recessions occurred since the end of World War II (1945)?
What are the two main difficulties that arise in comparing different comparing GDP?
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 Income
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.
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 3650
Calculate gross domestic product at factor cost if GDPMP Is $32000 million and net indirect taxes are $18000 million
Suppose a closed economy has a national income of $260 milion. $535 midon in private savings, $200 millon worth of tax evenue, and $150 milion in govemment spenting what is the consumprion expenditure in this economy? Os125 milion Os155 milion OS385 mition Ossa5 milion OS645 milion
Billion of Dollars Composition Consumption 17. 4900 Investment 1300 Government expenditures 1200 1050 Exports Imports Net foreign factor income 950 20 Based on table 1, the value of GDP is C 7,400 C 6,200 O 7,500 O 8,450
$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$375
Consider the following information given for calculation of different national income aggregates: Items Rs in crore Value of output 100000 Depreciation 6000 Indirect Taxes 6000 Subsidies 1000 Intermediate consumption 24000 Value added 76000 What will be the value of GNP at market prices as per the given information? Which of the following will be the value of NNP at market prices? Which of the following will be the value of GNP at factor cost? If disposable income is Rs 500 and saving Rs 100, what will be the average propensity to consume? If MPC= 1/2, what is the value of K (Investment multiplier)? What will be the value of NNP at factor cost as per the given information? What will be the value of GDP at market prices as per given information?
Expenditure Approach Table 3 Items RM Million Subsidies 4,500 Factor Payments Received from abroad 10,000 Manufacturing 7,000 Public Investment 50,000 Exports 77,000 Consumption Expenditure 15,500 Private Investment 14,000 Imports 75,000 Depreciation 5,000 Increase in Inventory 400 Tax on Expenditure 1,500 Factor Payments Paid Abroad 12,000 Calculate using the above data: NI What is the difference between personal income and national income?