D= Investments, Flow E= Net exports a. Aggregate income= B+C+D+E= $ (9+2+3-0.7) trillion= $13.3 trillion b. GDP= B+C+D+E= $ (9+2+3-0.7) trillion= $13.3 trillion
4.
a. GDP= A= $13.0 trillion
b. Government expenditure= A-B-D-E= $(13-9.1-3.3+0.8) trillion= $1.4 trillion
7.
a. Apples profit= $(299-93-25-21-5-75)= $80
b. US: Export to China= $21, import from China= $(93+25+21+5)= $144, consumption expenditure= $299 Japan: Export to China= $93 South Korea: Export to China= $25 China: Export to US= $(21+93+25+5)= $144, import from US, Japan, and South Korea=$(21+93+25)= $139 c. One iPod contribution make to world GDP= Apple sales= $299
10.
GDP (expenditure approach)= Consumption
expenditure+investment+government expenditure+net exports= $(2,000+800+400-200)= $3,000 Depreciation= GDP income approach-(Wages+Net Operating Surplus+Indirect taxes less subsidies)= $(2,900-(2,000+500+100))=$2,900$2,600=$300
11.
Net domestic income at factor cost= Wages+Net Operating Surplus=
$(2,000+500)= $2,500 Statistical discrepancy= GDP expenditure approach-GDP income approach= $(3,000-2,900)= $100
12.
Nominal GDP in 2010=
QB*PB+QC*P C= 800*$2+400*$10= $1,600+$4,000= $5,600 Nominal GDP in 2011= QB*PBn+QC*PCn= 900*$4+500*$5= $3,600+$2,500= $6,100