Problem Set 11-12 (ECO100) - Prof. Gustavo Indart...

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Prof. Gustavo Indart Department of Economics University of Toronto ECO 100Y INTRODUCTION TO ECONOMICS Problem Set 11-12 1. The following data are from the National Accounts of Canada for 1981 ($Billions). Corporate Profits (before Taxes) 35,000 Interest and Miscellaneous Investment Income 30,000 Interest Paid on the National Debt 10,000 Investment 75,000 Net Investment Income of Non-Residents 12,000 Government Spending 90,000 Wages and Salaries and Supplementary Labour Income 195,000 Government Transfer Payments to Individuals 20,000 Depreciation (Capital Consumption Allowances) 38,000 Exports 97,000 Net Income of Unincorporated Businesses and Rent 20,000 Imports 155,000 Corporate Taxes 15,000 Personal Taxes 60,000 Indirect Taxes Less Subsidies 42,000 Retained Earnings (Undistributed Corporate Profits) 10,000 Calculate (show your work): a) Net Domestic Income b) Gross Domestic Product c) Consumption d) Personal Income e) Savings 2. Consider the following information, all on a "domestic" basis, defining Canada's
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This note was uploaded on 08/10/2010 for the course ECONOMICS ECO100Y taught by Professor Furlong during the Summer '09 term at University of Toronto- Toronto.

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Problem Set 11-12 (ECO100) - Prof. Gustavo Indart...

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