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lectureAssignment18 - ECONOMICS 100 Lecture...

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ECONOMICS 100 Lecture Assignment #18 (The Domestic Accounts 1 and Other Macro Concepts) Source: LR11 and LR10, Chapter 19 (exclude international economy until later in the course) and Chapter 20. The derivation in class is not the same as in the text, but the end results are the same! 1. Building the Domestic Accounts The following data are from the profit and loss statement of a corporation, adjusted to assist us in building the domestic income and expenditure accounts. Sales To households $500 To other Firms re: "consumable" items 100 re: capital goods 200 To government 300 Cost of Goods Sold (CGS) Profits Purchases of goods and services (from other firms) 100 Retained 25 Wages, salaries 600 Dividends paid 25 Rents 100 Corporate Profits Tax 50 Interest 100 Indirect taxes - subsidies 50 Depreciation 50 1.1 Rearrange the above data into two columns: Left column to contain CGS plus profits; Right side to contain sales. The 2 columns will be equal.
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