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GDP identity and national income accounting

1)   Suppose the government cuts its purchases by $120 billion. As a result, the budget deficit is reduced by $40 billion, private domestic saving decreases by $10 billion, disposable personal income decreases by $80 billion and the business deficit is reduced by $15 billion. By how much has national income (Y) changed?

2)   Use the subsequent information to answer the problems below:

Data are in Trillions of Dollars

Personal consumption expenditures  $3)0

Net private domestic investment  $1)4

Depreciation   $0.2

Government purchases of goods and services  $2)0

Exports  $0.5

Imports  $0.3

Foreign factor income  $0.1

 

a)   Compute the GDP

b)   Compute the net exports

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M916957

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