Question

The following table contains some information from the national income and product accounts of a small...

The following table contains some information from the national income and product accounts of a small country. All data are in billion dollars.

Category

Value

Government Consumption and Gross Investment

300.00

National Income

1,230

Depreciation

35.00

Exports

150.00

Compensation of Employees

800.00

Receipts of Factor Income from the Rest of the World

43.00

Net Investment

140.00

Inventory Adjustment

0.00

Imports

160.00

Payments of Factor Income to the Rest of the World

40.00

Corporate Profits

220.00

Statistical Discrepancy

10.00

For this​ country:

NNP

equals

​$nothing

billion. ​(Enter your response as an​ integer.)

GNP

equals

​$nothing

billion. ​(Enter your response as an​ integer.)

GDP

equals

​$nothing

billion. ​(Enter your response as an​ integer.)Personal Consumption Expenditure equals

​$nothing

billion. ​(Enter your response as an​ integer.)

Enter your answer in each of the answer boxes.

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Homework Answers

Answer #1

National income ( NNPfc)= $1230 billion

NNPmp = NNPFC + net Indirect taxes = 1230 + 0 = $1230 billion

GNP = NATIONAL INCOME + Depreciation = 1230+35 = $1265 billion

GDP = GNP - ( Receipts of Factor Income from the Rest of the World - Payments of Factor Income to the Rest of the World) = 1265 -(43-40) = 1265 - 3 = $1262 billion

GDP = Personal Consumption Expenditure + Government Consumption and Gross Investment + Exports- Imports

Personal consumption expenditure = 1262 - 300-150+160 = $972 billion

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