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- Real-Time Data Analysis Exercise* Consider the data below for federal budget receipts, federal budget spending, and GDP in the U.S. Calculate the federal budget surplus or deficit as a percentage of GDP for each year. (Enter your responses rounded to two decimal places and include a minus sign for a deficit.) Federal Federal Budget Receipts (billions of dollars per(billions of dollars (billions of dollars per year, Federal Surplus or Deficit Government Spending Real GDP Year year) per year) in constant 2005 dollars) as a percentage of GDP (%) 2016 3,268 3,853 18.745 2017 3,316 3,982 19,543 2018 3,330 4.109 20,612 % 2019 3.462 4.447 21.433 *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.Activity 2: Taxes and Salary are related to one another when it come to purchasing power which affect entrpreneurs, diagram presented this relationship, explain briefly. SALARY TAXESFigure 6 shows the migration rate M(t) of Ireland in the period 1988–1998. This is the rate at which people (in thousands per year) moved into or out of the country. (a) Is the following integral positive or negative? What does this quantity represent? 1998 M(t) dt 1988 (b) Did migration in the period 1988–1998 result in a net influx of people into Ireland or a net outflow of people from Ireland? (c) During which 2 years could the Irish prime minister announce, "We've hit an inflection point. We are still losing population, but the trend is now improving." M(t) 30 20 10 1994 1988 1990/ 1992 1996 1998 2000 -10 - -20 -30 -40 -50- FIGURE 6 Irish migration rate (thousands per year).
- Using the data in the table below, calculate Aggregate Expenditure (AE), Savings (S), and increasing inventories Change (UI). Please ensure you show and input the negative sign where necessary for your answers on savings and undesired inventory changes. Aggregate Expenditure (AE) Number Number Number Income (Y) 550 640 730 Consumption (C) 577.5 636 694.5 Investment (1) 135 135 135 Savings (S) Number Number Number Inventory Disequilibrium Number Number NumberGOOD AFTERNOON, I JUST WOULD LIKE TO KNOW HOW YOU GOT 0 AND 81 ON QUESTION B, HOW DID YOU SOLVE THE EQUATION? THANK YOU FOR HELPINGThe Canadian economy produces a vast array of goods and services, from cars to cannabis Suppose that the hypothetical data for Canada has the folowing national income account data in billions of dollars: govermment purchases (SLOSO personal consumption expenditures (S4800 impors ($370 exports (524OE gross inventment (SL3O) Personal consumption expenditures are approximately what percentage of this economy? Mutple Choic O 70 percent O 60 percant O s percere 75 percent
- (ii) Suppose Country B is similar to Country A in the amount of government expenditures and the level of real GDP at full employment. But instead of a proportional tax system, Country B has a lump-sum (regressive) tax system that balances the budget at all levels of GDP. Graph the tax revenues for this country. Instructions: Use the tool provided 'Tax revenues' to illustrate the country's tax revenues. Plot the first point of the line where real GDP is $20 billion and the second point where real GDP is $80 billion. Plot only the endpoints of the line. $25 Tools $20 Tax revenues $15 $10 G $5 $20 $40 $60 $80 $100 Real domestic output, GDP (billions) Government expenditures, G, and tax revenues, T (billions)1. There is a country, which is located in the south of the Mediterranean. This country's GDP is 500 billion USD and the population is 40 million. The total Used Electric Power capacity is 50 GW, the energy mix (electrical energy produced in one year by each primary source) is as follows; Hydro = 25 %, Photovoltaic = 5%, Wind = 10 %, Natural Gas = %40 and Coal = 20% a) Calculate the produced electrical energy by each primary sources for one year. b) Calculate the electrical energy consumed per capita and compare it with Europe average. c) The Electrical energy is 1/3 of the total energy consumed (TPES) in this country. Obtain the Energy intensity. d) Calculate the total CO₂emissions in one year while producing electricity.State whether the following statements are true or false, then explain.(a) Buying a Japanese-brand vehicle that was made in Texas would harm the U.S. GDP.(b) Ken is not a U.S. citizen but teaches at the University of Chicago. The salary of his servicecannot be counted towards the U.S. GDP.(c) A $20,000 car was produced and sold to a car dealer in 2019, but it was sold to final consumerin 2020 for $20,000 – then $20,000 is counted to the GDP of 2020.
- 2) Below is the Table showing the annual gross electricity demand (TW.h) of Turkey versus gross do product a) Draw gross domestic product versus electricity consumption and find the equation of the line by the graphical method (be careful determining the dependent and the independent variables) b) By using the equation you have found, predict the electricity demand when GDP becomes 2500 billion S. Year 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 GDP (billion $) 800 928 1024 1120 1094 1250 1433 1532 1691 1861 1966 2040 2186 gross annual electricity consumption (TWh) 161 175 190 198 194 210 230 242 246 257 266 279 295From the following data calculate GNP at factor cost by Income Method & Expenditure Method Items Rs. in Crores Net Domestic capital formation Compensation of employees 500 1850 Consumption of fixed capital (Depreciation) 100 Govt. Final consumption Expenditure 1100 Private Final consumption Expenditure 2600 Rent 400 Dividend 200 Interest 500 Net Exports (-) 100 Undistributed Profits 900 Net Factor Income From Abroad (=income from abroad – income to abroad) (-) 50 Net Indirect Taxes (-indirect Tax - Subsidy) 250Aggregate Variables Value (in billions of dollars) in the base year Consumption spending $900 Investment spending $400 Government spending $200 Transfer payments $60 The marginal propensity to save is equal to 0.4 and there are no exports or imports, (a) Calculate the real GDP in this country, Show your work (b) Calculate the marginal propensity to consume Show your work. (c) Suppose that the government increases spending from $200 billion to $300 billion (i) Calculate the maximum change in real GDP. Show your work (ii) Given the change in real GDP in part (c)(i), calculate the maximum level of the new equilibrium real GDP. Show your work (d) Suppose that taxes decrease by $100 billion. Will the maximum change in real GDP be larger than, smaller than, or equal to the change in part (c)(i)? Explain.