Question: Use the following data to answer the questions The table gives some data about the UK economy in 2018 Items Billions of dollars Consumption expenditure

Use the following data to answer the questions

The table gives some data about the UK economy in 2018

Items

Billions of dollars

Consumption expenditure

2058

Exports of goods and services

980

Government expenditure

682

Net taxes

486

Investment

458

Saving

580

  1. Calculate the government and private sector balance

  1. b. Calculate net export

  1. c. Does the government have a budget surplus or budget deficit? Justify your answer

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

Saved 5 The Equivalence of Expenditure and Income (in Billions of Dollars) Expenditure Income C: Consumer goods and services $14,561 Wages and salaries $11,434 12.5 Corporate profits 2,075 points I:...

Q:

1. Explain with your own words the definition of Gross Domestic Product. 2. How does the growth rate of real GDP contribute to an improved standard of living? 3. Use the following data to answer the...

Q:

( Limitations of National Income Accounting ) Explain why each of the following should be taken into account when GDP data are used to compare the "level of well-being" in different countries:...

Q:

Show the workings In the table below, fill in the real per capita GDP and nominal per capita GDP numbers. Instructions: Enter your responses rounded to the nearest whole number. Year Real GDP Nominal...

Q:

4 Files 3:17 PM Fri May 13 Insert Draw Layout Review View Unit SMacroeconomic Policy Name: HR: POLICY BASICS Use the space below to take notes during class. The Federal Reserve: Monetary Policy:...

Q:

4 Files 3:18 PM Fri May '13 Insert Draw Layout Review View Unit SMacroeconomic Policy Name: HR: FISCAL POLICY Use the space below to take notes during class. Disposable Income: How does a change in...

Q:

Assignment 01 (semester 2) Assignment 01 Unique number 730716 Closing date 30 August 2021 Content Learning units 1 and 2 of the Study Guide and the relevant chapters of the prescribed book Questions...

Q:

Please help me answer these macroeconomics GDP questions, please take the time to answer all 18 parts of this question and do it carefully, I need them all right. I uploaded all the necessary charts...

Q:

Please help...thank you! PART A - MULTIPLE CHOICE QUESTIONS 1. Real GDP is nominal GDP adjusted for: A) double counting. B) changes in prices. C) population. D) imports. 2. What do a rubbernecking...

Q:

1 1. The unemployment rate is the percentage of the population that does not have paid employment, but is immediately available and actively looking for work. 12. Almost all of the people who are...

Q:

How does the work of others affect the auditors responsibility for the audit opinions?

Q:

Write the empirical formula for at least four ionic compounds that could be formed from the following ions: Fe+, NO3, Fe+, Bro 0 Explanation Check an X G 2022 McGH LLC All Rights Res

Q:

UESTION 3 ( 2 5 marks ) You are auditing the accounts payable department of a manufacturing company,MaxTech Solutions, which processes a large volume of invoices weekly. The financialyear end of...

Q:

As the manager of Smith Construction, you need to make a decision on the number of homes to build in a new residential area where you are the only builder. Unfortunately, you must build the homes...