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- III. In a particular very small region, the consumer price index, C, depends on the current value of gross regional domestic expenditure E, number of people living in poverty P, and the average number of household members in a family F, by the following formula: -Ep e C = 100 + F If it is known that the gross regional domestic expenditure is decreasing at a rate of PHP 50 per year, and the number of people living in poverty and the average number of household members in a family are increasing at 3 and 1 per year, resp., how fast does the consumer price index change per year at the moment when E = 1,000, P = 200, andF = 5?In a particular very small region, the consumer price index, C, depends on the current value of gross regional domestic expenditure E, number of people living in poverty P, and the average number of household members in a family F, by the following formula: e-Ep C = 100 + F If it is known that the gross regional domestic expenditure is decreasing at a rate of PHP 50 per year, and the number of people living in poverty and the average number of household members in a family are increasing at 3 and 1 per year, resp., how fast does the consumer price index change per year at the moment when E = 1,000, P = 200, and F = 5?Compute the GNP using the Income Approach and Expenditure Approach. Personal Consumption ExpendituresP 1,059,000 Compensation of employees and entrepreneurial & propertyIncome of persons980,000 Government Income31,000 Indirect Taxes132,500 Exports of goods and non-factor services648,200 Fixed Capital Formation232,400 Government Services116,000 Imports of goods and non-factor services648,100 Subsidies3,900 Trade237,000 Increase in Stocks7,200 Corporate Income16,000 Depreciation Allowance176,000 General Government Consumption Expenditures86,500 Net Factor Income From Abroad20,600
- 15. C = 50 + 0.8Yd G =80 I=70 T=100 Based on the information given above, calculate the national income equilibrium 1600 1000 600 1800The 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 130The 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 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 1100 100 50 160 70 220 -10 130 780 320 99 160
- 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 IncomeCalculate National income if:- GNP at MP = $3000 Depreciation = $2000 Net indirect taxes = $500Calculate GNP at MP if:- GDP at MP = $5500 Net factor income from abroad = $2200
- In an effort to curb the use of cigarettes, the US has utilized taxes to inhibit the purchase of them to help the population’s health. The price for cigarettes without a tax would be $2.50/pack. In that market, 950M cigarette packs would be the quantity sold each year. The government has inserted $2.00 tax/pack of cigarette. This tax reduces the amount of quantity demand to 600M cigarettes and the $2 tax is burdened 25% by the producer and 75% by the consumer. Please illustrate a supply and demand chart that indicates the areas of consumer surplus, tax revenue, deadweight loss, and producer surpluses with both quantities shown.A typical resident of the country of Collegia consumes a simple basket of goods, consisting of only life's essentials: soda, pizza, and Advil. A year's basket contains 900 sodas, 120 pizzas, and 60 bottles of Advil. The price of these goods in each of the past 8 years is given in the following table: Soda Pizza Advil 2005 $1.00 $ 8.00 $10.00 2006 $1.50 $ 8.00 $10.00 2007 $1.50 $ 8.50 $11.00 2008 $2.00 $ 8.50 $11.50 2009 $2.50 $ 9.00 $11.00 2010 $2.50 $ 9.00 $10.00 2011 $2.00 $10.00 $12.00 2012 $3.00 $10.00 $13.00 Complete the following table by calculating the CPI for each year using 2008 as the base year. (Round your responses to one decimal place.) 2005 2006 2007 2008 2009 2010 2011 2012 CPI Complete the following table by calculating the rate of inflation for each year from the previous year, starting with 2006. (Round your responses to one decimal place and use a minus sign if necessary.) 2006 2007 2008 2009 2010 2011 2012 Inflation % % % % RateCalculate gross domestic product at factor cost if GDPMP Is $32000 million and net indirect taxes are $18000 million
