National Income GDP Exercise

 National Profits GDP Workout Essay

п»їMeasuring Countrywide Income -- GDP

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For the following items, follow the directions, write the correct answer inside the blank, or perhaps circle the correct answer.

Having applied for a job at the Trade Department's Bureau of Economic Analysis, you are given the following hypothetical data to study ahead of your interview. Figures happen to be total benefit in immeasureable dollars.

Home spending on:

Services=$3, 008

Nondurable goods=$1, 776

Durable goods= $706

Organization spending on plant and equipment= $815

Damage on manufacturing plant equipment= one hundred dollar

Inventory changes= $9

Fresh homes constructed= $397

Existing homes which were destroyed= $123

State and native Government spending on:

Consumption= $540

Investment= $113

Federal Government spending on:

Consumption= $691

Investment= $132

Depreciation of presidency assets= $245

Transfer Payment=$2, 936

Imports= $855

Exports= $961

A. What is the overall value of consumption spending in this economy? $5, 490

W. What is the entire value of private investment spending in this economy? $1, 221

C. What is the overall value of presidency purchases difficult? $1, 476

D. What is the total value of net exports difficult? $106

At the. Using the expenditure approach, precisely what is GDP in this economy? $8, 293

F. Which items in the desk are not counted as part of the economy's GDP? Damage on stock equipment ($200), existing homes which were ruined ($123), devaluation of government resources ($245) and transfer obligations ($2, 936).

Measuring Countrywide Income -- GDP

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Billions of dollars

Exports$367

Dividends 70

Consumption of fixed capital 307

Corporate profits 203

Compensation of employees you, 722

Federal government purchases 577

Rents thirty-three

Taxes about production and imports255

Gross private home investment437...

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