2. Net exports are best defined as a. The difference between total exports and total imports b. Net Imports – Net Exports c. Economic output from a given year that is not consumed d. Y = C + I + G - NX e. None of the above

2. Net exports are best defined as a. The difference between total exports and total imports b. Net Imports – Net Exports c. Economic output from a given year that is not consumed d. Y = C + I + G - NX e. None of the above

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Measuring A Nation's Income

Section: Chapter Questions

Problem 5CQQ

See similar textbooks

Related questions

Q: Jacques, a resident of France, goes to Germany to buy a brand-new car for €15,600.00. He then brings…

A: GDP is the all final value of goods and services that produced in a nation in a specific period of…

Q: Domestic Product (NDP) of Country X. ITEM $(millions) Household Consumption 2,780 Depreciation of…

Q: What government agency compiles the U.S. NIPA tables? In what U.S. department is it located? Of the…

A: NIPA refers to national income and products account is part of the national account of the US. It…

Q: Define net exports. Explain how U.S. exports and imports each affect domestic production. Suppose…

A: International trade is defined as the purchase or sale of commodities, services, and other assets…

Q: $50,000 on food and other consumption goods, $20,000 on vacations abroad, saved $10,000 in her…

A: In economic aspects, (GDP) is how much a spot produces in a measure of time. Gross domestic product…

Q: 2. The following table shows the figures of National Income for a country. Item RM millions Gross…

A: Given Item RM Millions Gross Investment = I 1500 Government expenditure =G 2500…

Q: b. Use the data below to calculate the I. Gross National Product at Market Price II. Gross National…

A: Since you have posted a question with multiple subparts, we will solve the first three sub-parts for…

Q: 3. Which of the following is not included in investment expenditure? a) changes in business…

A: 13)Purchasing would mean investment. Change in business inventories would not be included under…

Q: How much are they spending for the products of the country. a. consumption b. investment c. gross…

A: The used approach, otherwise called the spending approach, ascertains spending by the various…

Q: Real GDP C I G NX 2500 1770 540 400 - 250 2400 1700 540 400 -240 2300 1630 400 -230 540 2200 1560…

A: The components of an economy's aggregate expenditure that are unaffected by the real amount of…

Q: Given the following data for Jamrock country work out the following: US$mn. Private Consumption…

A: Answer: Note: I am taking net changes in physical stock as negative because you have but a negative…

Q: QUESTION 2 Refer to the table (all figures in billions of dollars). The net dormestic product (NDP)…

A: Net domestic product (NDP) refers to the total value that subtract the depreciation from the value…

Q: 6. For a certain economy, let the following data is measured in million birr Net foreign expenditure…

A: A way of measuring the economic wellbeing of a nation, the GDP is the amalgamation of all the values…

Q: Given the following table Items RM Million Imports 70 Depreciation 50 Exports 80…

A: Since you have posted a question with multiple subparts, we will solve the first three subparts for…

Q: Refer to the table (all figures in billions of dollars). The gross dormestic product (GDP) for this…

A: Gross domestic product (GDP): - GDP is the market value of all final goods and services produced in…

Q: Given the following data for Jamrock country work out the following: US$mn. Private Consumption…

Q: Calculate GDP using the Income and Expenditure Approach. (b) (all figures are in billions of…

A: *SOLUTION :- *(A) * The GDP is = personal consumption + gross investment + government consumption +…

Q: 1- The four expenditure categories of GDP consist on consumption, government purchases, investment,…

A: We are going to define the definitions of Gross Domestic product to answer this question.

Q: ITEMS RM (millions) Agriculture 18,000 Mining 12,000 Manufacturing 22,000 Constructions 8,000…

A: Since you posted multiple subparts, we will provide you the answer of first three subparts. If you…

Q: 3. Determine if the following would be included (I) or excluded (E) from the calculation of GDP. (a)…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Based on the data, how much is the net exports? net exports? A -20 120 1.580 B

A: Net exports are a measure of a nation's total trade. The formula for net exports is a simple one:…

Q: 5. (Table: National Income Accounts) Look at the table National Income Accounts. The value of…

A: here we can calculate the investment by using the national income formula , because investment is…

Q: Suppose we have a two good economy that produces beef and soy.The price of a unit of beef = $19 and…

A: Price of a unit of beef = $19 Price of a unit of soy = $14 Quantity of beef produced = 125 units…

Q: 1. Suppose that in our economy Income = Expenditure. If G = 1100, T = 900, S = 50, and I = 90. The…

A: In an open economy, when income is equal to the expenditure, then the gap between the savings and…

Q: You are given the following information about an economy GDP at Market Prices 1,,669.4 Imports…

A: We have to find disposable income and household consumption expenditure.

Q: 5. राष्ट्रीय आय को मापने में दोहरी गणना की सम How do you avoid the problem of double ce 6.…

A: 5. When measuring national income, there was a problem known as double counting. The national income…

Q: The table below gives some of the items in the U.S. National Income and Product Accounts in 1995.…

A: The gross domestic product(GDP) of an economy or nation is defined as the market value of all the…

Q: nstructions: Answer the following questions Question 1…

A: Answer to the question is as follows:

Q: 4 In which method, gross domestic product (GDP) is measured, by adding all types of spending on…

A: Gross Domestic Product or GDP measures within a specified period of time the value of all of the…

Q: If in some country personal consumption expenditures in a specific year are $50 billion, purchases…

A: The gross domestic product shows the value of all final goods and services which is produced in the…

Q: Define net exports and net foreign factor income. What the the difference? How would net foreign…

A: Net Exports is the difference between exports and imports. Net Foreign Factor Income(NFFI) is…

Q: 3. To which component of GDP expenditure (C,I,G, or NX) does each of the following belongs. A.…

A: Gross domestic production (GDP) refers to the total value of all final goods and services produced…

Q: 3) The value for net exports in billions of dollars is A) -200. B)-150 C) 50. D) 250. 4) The…

A: 3) The value for net exports in billions of dollars is A) -200. B)-150 C) 50. D) 250…

Q: SDP for the Calculate the four components of expenditure and Instructions: Enter your responses as…

A: Gross Domestic Product (GDP) is the value of final goods and services produced in the domestic…

Q: 25. Which statement is true? a. The income method for calculating GDP gives a higher result for GDP…

A: GDP refers to the value of goods and services that are produced within the country during a specific…

Q: 2. Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category…

A: Real GDP is the value of goods and services that have been produced in an economy in any given year.

Q: Refer to the table (all figures in billions of dollars). The national income (NI) for this economy…

A: Gross Domestic Product is the summation of the money value of all the final goods and services…

Q: Using the following national income accounting data, compute GDP, NDP, and NI. All figures are in…

A: The Calculation of GDP is shown below:

Q: 9. Which of the following statements is correct? a) Investment represents household purchases of…

Q: 7. () Below is a list of domestic output and national income figures for a given year. All figures…

A: Note: There are multiple sub-parts in this question. Therefore, we shall answer for you only the…

Q: 20. Which of the following represents the measurement of GDP as the sum of consumption…

A: GDP is the final value of all the goods and services which are produced within the domestic economy…

Q: Using the following national income accounting data, compute (a) GDP, (b) NDP, and () NI. All…

A: Formula used- GDP = Personal consumption expenditure + Net private domestic investment + Government…

Question

2. Net exports are best defined as

a. The difference between total exports and total imports

b. Net Imports – Net Exports

c. Economic output from a given year that is not consumed

d. Y = C + I + G - NX

e. None of the above

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Country A has export sales of 20 billion, government purchases of 1,000 billion, business investment is 50 billion, imports are 40 billion, and consumption spending is 2,000 billion. What is the dollar value of GDP?
Consumption $500Government Expenditures $200GNP $800Gross Private Domestic Investment $100Imports $100Exports $50 Questions:1. Using the data above, GDP is equal to __________________.2. Using the data above, Net Exports is equal to _____________.
1. Transfer payments are: A) payments made to firms for investment. B) payments that do not require a good or service in exchange. C) considered a part of government purchases. D) an important component of GDP because they increase consumption spending. 2. A country's exports minus its imports measures: A) net exports. B) gross exports. C) net imports. D) gross imports. 3. A trade deficit occurs when: A) foreign remittances paid are less than foreign remittances received. B) exports are less than imports. C) exports equal imports. D) exports are greater than imports.
rerer to the information provided in table 4 below to answer the question(s) that follow. Table 4 $Billions Depreciation Receipts of factor income from the rest of the world Government purchases Imports Payments of factor income to the rest of the world Net private domestic investment Personal income taxes 20 40 150 50 40 160 80 Personal consumption expenditures Dividends 700 10 Exports Amount of national income not going to households 70 30 Referring to table 4, calculate a. The values for GDP, GNP, and NNP. b. The values for national income, personal income, and disposable personal income.
110% 5. Given the following table Items RM Million Imports Depreciation Exports Dividends 70 50 80 10 Government Purchases 120 Receipts Of Factor Income From The Rest Of World Amount Of National Income Not Going To Households Payments Of Factor Income From The Rest Of World Net Private Domestic Investment Personal Income Taxes Personal Consumption Expenditures 20 10 40 350 100 750 a. Calculate the GDP b. Calculate the GNP c. Calculate the NNP d. Calculate the national income Calculate the personal income Calculate the disposable personal income e. f.
Consumption Depreciation Retained earnings Gross investment Imports Exports Net foreign factor income Government purchases a. How much is GDP? Instructions: Enter your responses as a whole number. $ b. How much is net investment? $ billion LA billion $400 24 16 40 50 60 c. How much is national income? billion 70
Shane who is a farmer of a city bought a tractor worth $18,500 from an importer so that the mango orchard he is taking care of would bare more fruits to be exported later. A. Investment B. Consumption C. Import D. Net export
16. Write the name of the three missing categories of expenditure that contribute to a country's GDP. exports Draw a picture that accurately represents each category. Several pictures or categories are already filled in for you. consumption + 1 + = + GDP
The country of Sylvania has a GDP of $900, investment of $200, government purchases of $200, and consumption of $600. What is net export? а. -$100 b. $0 c. $100 d. $300
Use the following data to answer the questions below: Category Consumption Depreciation Retained earnings Gross investment Imports Exports Net foreign factor income Government purchases a. How much is GDP? Instructions: Enter your responses as a whole number. $ $ billion b. How much is net investment? $ Billions of Dollars $200 20 12 30 60 billion c. How much is national income? billion 50 10 80
In the table below, you are given data for the country of Sequoia. Exports Consumption Gross investment Depreciation 188 520 152 88 Government spending Imports Net foreign factor income Indirect taxes a. The value of GDP at market prices is $ b. The value of NDP at basic prices is $ c. The value of net national product at basic prices (i.e. national income) $ EST
Which of the following is added to the GDP? A. Exports B. Imports C. Net Exports D. Personal Income Tax