Homework SourseTable 1 Durable good consumption 250 Nondurable goods 1200 S
Table 1
Durable good consumption
250
Nondurable goods
1200
Services
4503
Nonresidential investment
520
Residential investment
65
Change in inventories
23
Government expenditure
2561
Exports
1259
Imports
1185
Depreciation
86
Receipts of factor income from abroad
862
Payments of factor income abroad
735
Personal income
9632
Personal taxes
2531
Table 2
Durable good consumption
761.3
Nondurable goods
1845.5
Services
3661.9
Nonresidential investment
1203.1
Residential investment
403.8
Change in inventories
43.3
Government expenditure
1634.4
Exports
990.2
Imports
1244.2
Depreciation
1161.0
Receipts of factor income from abroad
305.9
Payments of factor income abroad
316.9
Personal income
7789.6
Personal taxes
1152.0
Using the numbers for each table separately, find:
C
I
Net exports
GDP
GNP
Net private investment
Trade balance. Do we have a trade deficit or trade surplus?
Disposable personal income
| Durable good consumption | 250 |
| Nondurable goods | 1200 |
| Services | 4503 |
| Nonresidential investment | 520 |
| Residential investment | 65 |
| Change in inventories | 23 |
| Government expenditure | 2561 |
| Exports | 1259 |
| Imports | 1185 |
| Depreciation | 86 |
| Receipts of factor income from abroad | 862 |
| Payments of factor income abroad | 735 |
| Personal income | 9632 |
| Personal taxes | 2531 |
Solution
Table 1 C= Durable+ Non durable goods + services= 250+1200+4503=5953
Table 2 C= 761.3+1845.5+3661.9=6268.7
Table 1 I= Nonresidential investment+Residential investment+Change in inventories-depreciation=520+65+23-86=522
Tabl2 2 I=1203.1+403.8+43.3-1161.0=489.2
table 1 Net export= export+Receipts of factor income from abroad-import-Payments of factor income abroad= 1259+862-1185-735=201
Table 2 Net export=990.2+305.9-1244.2-316.9=-265
Table 1 GDP= C+I+G+Net exports =5953+522+2561+201=9237
Table 2 GDP=6268.7+489.2+1634.4-265=8177.3
trade balance= table 1 =201 (surplus)
Trade balance =table 2 =-265 (deficit)
Disposable personal income :table 1 = Personal income -personal taxes= 9632-2531=7101
table 2 disposable personal income =6637.6
GNP table 1 = GDP+Receipts of factor income from abroad- Payments of factor income abroad=9237+862- 735 = 9364
Table 2 GNP =8177.3+305.9-316.9=9364
