Answer to Question #56093 in Macroeconomics for NKM

Question #56093
1) The table below provides economic information of Republic of Eastein for 2014 Items Amount ($) Transfer Payments $1,440 Interest Income $2,900 Capital Consumption Allowance $1,000 Wages $3,200 Gross Investment $3,470 Business Profits $3,900 Indirect Business Taxes $2,900 Rental Income $2,400 Net Exports (Export - Import) $1,120 Government Purchases $4,410 Canadians and firms abroad $1,400 Non Canadians and foreign firms in Canada $700 Household Consumption $7,300 a) Calculate Republic of Eastein’s GDP for 2014 using the expenditure approach. b) Calculate Republic of Eastein’s GDP for 2014 using the income approach. c) Calculate Gross National Product for 2014. d) Determine the Net Domestic Product. e) Determine the Net Investment. f) Use the circular flow of money model to explain income approach and expenditure approach, and relate this to your answers in A and B above.
1
Expert's answer
2016-01-19T08:28:40-0500

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS
paypal