My macroeconomics professor gave us this question. I don't have my books yet and need the formulas and/or some help in figuring it out. He gave us the figures for: Personal consumption expenditures, imports, net private domestic investments, government purchases of goods and services, exports, capital consumption allowance, indirect business taxes, receipts of factor incomes from abroad, and payment of income to factors abroad.
I need the formula(s) that I would need to reach the answers to the following questions: What is the gross domestic product for this economy? What is the net domestic product for this economy? What is the national income for this economy? What is the gross private domestic investment for this econonmy?
Also is there a web site where I can get homework/tutoring for macroeconomics? Thank you.
2007-01-24 00:58:12 · 2 answers · asked by capricorn 2 in Social Science ➔ Economics
Gross domestic product is equal to consumer spending + investment + government spending + net exports (exports - imports).
Net Domestic product is equal to GDP- Depreciation on the countries capital
National income can mean several things. Some people believe it is simply GDP. Some consider it GNP. GNP is GDP-FActor incomes from foreigners. Then there is something called Net National Income. This is figured by taking GNP less depreciation less indirect taxes. I am thinking this is probably the one you want.
Gross private domestic investments is net domestic private investment plus depreciation.
Depreciation will be your capital consumption allowance.
I don't know if there is any site to help with tutoring for macro, but your professor may be able to hook you up with a student that can help you.
2007-01-24 01:53:31 · answer #1 · answered by theeconomicsguy 5 · 0⤊ 0⤋
the question is vague! can u explain in simple terms
2016-05-24 03:58:51 · answer #2 · answered by Anonymous · 0⤊ 0⤋