202.Hmwk.3

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

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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)?

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## This note was uploaded on 04/03/2008 for the course ECON 202 taught by Professor Iforget during the Spring '08 term at Drexel.

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

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