Question
In: Economics
Consider the following data for a hypothetical country for 2015. Total (Billions of Dollars) Consumption 12,268...
Consider the following data for a hypothetical country for 2015.
|
Total (Billions of Dollars) |
|
|
Consumption |
12,268 |
|
Investment |
3,018 |
|
Government Purchases |
3,184 |
|
Net Exports |
-532 |
1. What is the GDP for 2015?
2. What percentage of GDP is Consumption?
3. If the population is 300 million people what is the GDP per capita in this country?
Solutions
Expert Solution
1) GDP = C + I + G + NE = 12,268 + 3,018 + 3,184 - 532 = $17,938 billion.
2) The percentage of consumption in GDP = (12,268 / 17,938) * 100 = 68.39%.
3) GDP per capita = $17,938 billion / 300 million = 17,938,000,000,000 / 3,000,000,000 = $5,979.33.
Rahul Sunny answered 2 years agoRelated Solutions
The following are national income account data for a hypothetical economy in billions of dollars: gross...
The following are national income account data for a
hypothetical economy in billions of dollars: gross private domestic
investment ($120); imports ($35); exports ($22); personal
consumption expenditures ($2,460); and, government purchases
($470). What is GDP in this economy?
A. $3,037 billion
B. $3,290 billion
C. $3,250 billion
Consider the following hypothetical data for the U.S. economy in 2020 (in trillions of dollars), and...
Consider the following hypothetical data for the U.S. economy in
2020 (in trillions of dollars), and assume that there are no
statistical discrepancies, zero net incomes earned abroad, and
zero taxes on production and imports of net subsidies. Category
Value Category Value Corporate profits before taxes deducted $2.7
Exports $1.5 Proprietorial income 0.8 Net transfers and interest
earnings 2.2 Rent 0.8 Nonincome expense items 1.8 Interest 0.9
Imports 1.8 Wages 8.4 Corporate taxes 0.6 Depreciation 1.2 Social
security contributions 2.1...
Consider the national income accounting data provided in the following table: Item Billions of Dollars...
Consider the national income accounting data provided in the
following table:
Item Billions of Dollars
Gross private domestic investment $45
Personal Taxes 30
Proprietor Income 50
Transfer Payments 20
Indirect business taxes 15
Corporate income taxes 10
Government expenditures 39
Consumption of fixed capital (depreciation) 10
U.S. exports 20
Compensation to Employees (wages) 175
Dividends 15
Corporate Ret. Earnings (Undistributed Profits) 5
Net foreign factor income earned in U.S. 3
Rental Income 25...
Consider the following data for the United States: Date Nominal GDP (billions of dollars per year)...
Consider the following data for the United States:
Date
Nominal GDP
(billions of dollars per year)
Price Index
(base year 2010)
Real GDP
(billions of dollars per year,
in constant 2009 dollars)
2015
18,238
100.00
17,432
2016
18,745
101.05
17,731
2017
19,543
102.95
18,144
*Real-time data provided by Federal Reserve Economic Data
(FRED), Federal Reserve Bank of Saint Louis.
Assuming the base year is now 2017, complete the following
(enter your responses rounded to one decimal place):
a. Recalculate the...
Using the expenditure approach, calculate GDP using the following data. Item Amount in dollars (billions) Total...
Using the expenditure approach, calculate GDP using the
following data.
Item
Amount in dollars (billions)
Total Consumption
9,600
Consumption of Durable Goods
1,600
Consumption of Non Durable Goods
2,800
Consumption of Services
3,200
Total Investment
3,750
Fixed Investment
1,000
Government purchases of Goods &
Services
2,675
Government Transfer Payments
450
Exports
800
Imports
900
GDP Equals
Consider the following data on U.S. GDP: Year Nominal GDP GDP Deflator (Billions of dollars) (Base...
Consider the following data on U.S. GDP:
Year
Nominal GDP
GDP Deflator
(Billions of dollars)
(Base year 2009)
2017
19,485
107.95
1997
8,578
74.45
The growth rate of nominal GDP between 1997 and 2017 was
_______, and the growth rate of the GDP deflator between 1997 and
2017 was ______. (Hint: The growth rate of a variable XX over an
NN-year period is calculated as
100×((XfinalXinitial)(1N)−1)100×XfinalXinitial1N−1)
Measured in 2009 prices, real GDP was ______billion in 1997 and
______billion in 2017....
The assets (in billions of dollars) of the four wealthiest people in a particular country are...
The assets (in billions of dollars) of the four wealthiest
people in a particular country are 43,35, 22,15. Assume that
samples of size n =2 are randomly selected with replacement from
this population of four values.
a. After identifying the 16 different possible
samples and finding the mean of each sample, construct a table
representing the sampling distribution of the sample mean. In the
table, values of the sample mean that are the same have been
combined.
x
Probability
x ...
The assets (in billions of dollars) of the four wealthiest people in a particular country are...
The assets (in billions of dollars) of the four wealthiest
people in a particular country are
26, 25, 22 ,13
Assume that samples of size
n=2
are randomly selected with replacement from this population of
four values.
a. After identifying the 16 different possible samples and
finding the mean of each sample, construct a table representing
the sampling distribution of the sample mean. In thetable, values
of the sample mean that are the same have been combined.
x overbarx
Probability...
The assets (in billions of dollars) of the four wealthiest people in a particular country are...
The assets (in billions of dollars) of the four wealthiest
people in a particular country are 43, 25, 24, 11. Assume that
samples of size n=2 are randomly selected with replacement from
this population of four values.
a. After identifying the 16 different possible samples and finding
the mean of each sample, construct a table representing the
sampling distribution of the sample mean. In the table, values of
the sample mean that are the same have been combined.
x̅ Probability...
The assets (in billions of dollars) of the four wealthiest people in a particular country are...
The assets (in billions of dollars) of the four wealthiest
people in a particular country are 46 comma 27 comma 21 comma 13.
Assume that samples of size nequals2 are randomly selected with
replacement from this population of four values. a. After
identifying the 16 different possible samples and finding the mean
of each sample, construct a table representing the sampling
distribution of the sample mean. In the table, values of the
sample mean that are the same have been...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Case Study: Personal Beliefs in the Workplace Don Shakow was a prominent professional who worked in...
- 1: Competency framework usage is the modern best practice in management. What is meant by competency...
- A 19.34 g mixture of sugar (C12H22O11) and table salt (NaCl) is dissolved in 231 g...
- Young and Company claims that its pressurized diving bell will, on average, maintain its integrity to...
- 1) Alternative compiled code sequence using instructions in classes A, B, C. What is the average...
- An asset is purchased on January 1 for $48,700. It is expected to have a useful...
- Do we have any online or offline tool to convert c and cpp programs into MIPS...
ADVERTISEMENT