202.Hmwk.3

202.Hmwk.3 - Econ 202: Homework #3 for material covered...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Econ 202: Homework #3 for material covered during 3rd and 4th week of class This homework is rather long because it has a lot of practice problems on all computational topics that will be covered in the midterm. If you find there are problems you don’t know how to solve, please make sure you ask your questions during the Midterm Review, Thursday before the Midterm. Given the following data from incomes and expenditure accounts for goods and services produced and sold within the country’s borders: a. Consumption $8.25 trillion b. Gross Investment $3.55 trillion c. Government spending $4.20 trillion d. Exports $3.50 trillion e. Imports $4.50 trillion g. Corporate Profits $2.50 trillion h. Proprietor Incomes $0.40 trillion i. Rental Incomes $0.50 trillion j. Interest Payments $1.80 trillion k. Depreciation Allowances $2.00 trillion l. Indirect Business Taxes $0.25 trillion m. Retained Earnings $1.00 trillion n. Corporate Profits Tax $0.35 trillion o. Transfer Payment (into households) $1.60 trillion p. Interest on Public Debt $0.25 trillion q. Personal Taxes $4.05 trillion 1: Which 5 accounts would be used to calculate GDP by the expenditures method? 2. Which 5 accounts would be used to calculate National Income (NI) by the Incomes Method? 3. By Either method, how much is Gross Domestic Product (GDP)?
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

202.Hmwk.3 - Econ 202: Homework #3 for material covered...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online