M ACROECONO0MICSASSIGNMENT……………………… 1 answer below »

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PACC6007: ECONOMICS MACROECONO0MICS ASSIGNMENT Due Wednesday 23 May, 2018 (Week 11) INSTRUCTIONS For each of the four (4) questions below, write a brief explanation to each part of each question. Marks awarded will depend on the quality of the reasoning exhibited, the ability to express the argument in a concise manner (including the use of diagrams and mathematics) and the organisation of your answer. Where appropriate draw diagrams to illustrate your answer (these can be hand drawn). This assignment should be answered in no more than 1,500 words. On average, no more than about a page-and-a-half should be devoted to any one question. This assignment is graded out of a total of 20 marks and accounts for 20% of the marks used to assess your final grade. This assignment is due on Wednesday 23 May, 2018 (Week 11) in class. For students enrolled in lectures on Tuesday, you may need to submit it to your lecturer (Dr Akhtar Hossain

) either in class on Tuesday 22 May, or to the front desk in the 1st floor before 5pm on Wednesday 23 May 2018. An electronic copy of the assignment must also be submitted to Turnitin before you submit the hardcopy to your lecturer. James Xiaohe Zhang Lecturer and course coordinator QUESTION 1 (5 marks) Suppose the following table shows some national accounting data for a given year for some particular country. Table 1 national accounting data Capital depreciation $950 Change in business inventory 50 Compensation of employees 5000 Corporate profit 600 Durable goods 600 Exports 100 Factor payments from the rest of the world 360 Factor payments to the rest of the world 300 Farm income 300 Gross private domestic investment 1000 Government spending 800 Imports 150 Net interest 500 Non-durable goods 2000 Non-farm income 700 Proprietors’ income 1000 Rental income 100 Services 4000 Using the data given in Table 1, calculate the country’s gross domestic product (GDP), net…



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