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Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 27
Use the following data to work Problem.
The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire destroys the statistics office. The accounts are now incomplete but they contain the following data:
GDP (income approach): $2,900
Consumption expenditure: $2,000
Indirect taxes less subsidies: $100
Net operating surplus: $500
Investment: $800
Government expenditure: $400
Wages: $2,000
Net exports: -$200
Calculate GDP (expenditure approach) and depreciation.
The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire destroys the statistics office. The accounts are now incomplete but they contain the following data:
GDP (income approach): $2,900
Consumption expenditure: $2,000
Indirect taxes less subsidies: $100
Net operating surplus: $500
Investment: $800
Government expenditure: $400
Wages: $2,000
Net exports: -$200
Calculate GDP (expenditure approach) and depreciation.
Explanation
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GDP is the gross domestic product. The G...
Macroeconomics 11th Edition by Michael Parkin
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