Answer to Question #313270 in Macroeconomics for kindye

Question #313270

 Based on Above Information calculate

A, Gross Domestic Product

B, Gross National product

C, Net National Income

D, National Income

E, Trade Balance


1
Expert's answer
2022-03-17T14:03:35-0400

A, GDP = private consumption + gross private investment + government investment + government spending + (exports – imports).


B, GNP =personal consumption expenditures + private domestic investment + government expenditure + net exports + income earned by residents from overseas investments - income earned within the domestic economy by foreign residents


GNP = C + I + G + X + Z


C, NNI=GDP - Consumption of Fixed Capital + factor income received from abroad.


D, National Income = GDP + Foreign Production by National Residents – Domestic Production by Non-National Residents


NI = C + G + I + X + F – D


E, Trade Balance = Value of Exports − Value of Imports 


Incomplete question


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