Problem Set #4 - ECON 162B-90, 91 Fall 2007 PROBLEM SET...

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ECON 162B-90, 91 Allison Kim Fall 2007 due: October 19 PROBLEM SET NUMBER FOUR 1. See attached. 2. See attached. 3. See attached. 4. a. The real GDP changed 2.9% for 2006. The real GDP has been declining in its rate of growth over the past two years. GDP is measured in terms of personal consumption expenditures, gross private domestic investment, net exports of goods and services and government consumption expenditures and gross investment. b. Nominal GDP in 2005 was 12433.9; nominal GDP in 2006 was 13194.7 c. Real GDP in 2005 was 11003.4; real GDP in 2006 was 11319.4 d. The table shows the relation of GDP (Gross Domestic Product), GNP (Gross National Product), NNP (Net National Product), NI (National Income) and PI (Personal Income). The table goes from GDP to PI by using the following procedure: Gross Domestic Product + Income receipts from the rest of the world – Income payments to the rest of the world = Gross National Product – Consumption of fixed capital = Net National Product – Statistical Discrepancy = National Income – (Corporate
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This note was uploaded on 04/13/2008 for the course ECON 162B taught by Professor Christianson during the Fall '08 term at Binghamton University.

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