Use the expenditure approach to comput gdp. use the income, Ask an Expert

Economics

GDP and NDP

The table below sets out some data for Country X in 2007.
Item Amount
(in billions of dollars)
Consumption expenditure 289
Government expenditure 99
Interest and investment income 33
Profit of corporations and
government enterprises 65
Income from farms and
unincorporated businesses 40
Gross investment 146

Exports 36
Imports 22

Wages, salaries, and supplementary
labor income 275
Capital consumption allowance 60
Indirect taxes less subsidies 75

a. Calculate net exports.

b. Use the expenditure approach to calculate GDP.

c. Use the income approach to calculate GDP.

d. Calculate net domestic product (at factor cost).

e. Calculate net domestic income (at market price).

View complete question

Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9202168

Have any Question?Write your Review or question?

Related Questions in Macroeconomics

Question you do not need to have seen the movie the

Question: You do not need to have seen the movie, the question is based on Carl Menger's Theory of the Good. In the movie, "Cast Away," Tom Hanks played the character Chuck Noland, who was stranded on a deserted island f ...

Question scenario imagine you are a business consultant to

Question: Scenario: Imagine you are a business consultant to a Business. You have been asked to analyze, advise, and create recommendations on how the firm can ensure its future success in its current market. Prepare a m ...

Question there is a buyer and a seller the buyer has a

Question: There is a buyer and a seller. The buyer has a valuation 40 for a usable product. The seller has a cost 0 of producing a bad product and a cost 20 of producing a good product. The sequence of events is as follo ...

Question - suppose that the demand and supply schedules for

Question - Suppose that the demand and supply schedules for bonds that have a face value of $100 and a maturity date one year hence are as follows: Price ($) Quantity Demanded Quantity Supplied 100 0 600 95 100 500 90 20 ...

Question explain why the market fails to provide optimal

Question: Explain why the market fails to provide optimal quantities of: i) Positive & negative externalities ii) Public Goods iii) Common Property Resources The response must be typed, single spaced, must be in times ne ...

Question - suppose the demand curve for a product is given

Question - Suppose the demand curve for a product is given by Q = 19 - 1P + 2Ps Where P is the price of the product and Ps is the price of a substitute good. The price of the substitute good is $2.40. Suppose P = 0.60. W ...

Question - brazil points to its shrimp-farming industry as

Question - Brazil points to its shrimp-farming industry as an example of how it can export shrimp in the world market. One decade ago, Brazil exported a meager 400 tons of shrimp. Today, Brazil exports more than 58,000 t ...

Question explain these questionscompare the marginal

Question: Explain these questions Compare the Marginal Revenue Curve for a firm in the PC-market with the Marginal Revenue Curve for the monopolist. Explain in your own words why a company that creates a negative externa ...

Question when using ols we assume that the errors are

Question: When using OLS, we assume that the errors are independent (i.e., not serially correlated) and normally distributed with constant variance (i.e., homoscedastic). These assumptions allow us to use the F and t dis ...

Question - how does strategic positioning benefit a firm

Question - How does strategic positioning benefit a firm? Discuss the importance of advertising, branding, and the effect of both on the product's demand curve.

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Macroeconomics Expert