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a) Use the available data to calculate Danland's 2020 GDP using the expenditure approach or the income approach. b) In 2019, Danland's GDP was $608.1 billion. With 3% inflation in 2020, nominal GDP increased by % and real GDP grew by %. Exports Corporate profits before taxes Capital consumption allowances (depreciation) Government current purchases of goods and services Accrued net income of farm operators from farm production Indirect taxes (less subsidies) Wages, salaries, supplementary labour income Gross investment Personal saving Corporate income taxes Government transfer payments Interest and miscellaneous investment income Net income from nonfarm unincorporated businesses, including rent Personal consumption expenditures Imports Inventory valuation adjustment Undistributed corporate profits Personal taxes Billion $ 169 46 76 133 4 75 371 139 49 17 149 59 36 398 170 2 7 136

a) Use the available data to calculate Danland's 2020 GDP using the expenditure approach or the income approach. b) In 2019, Danland's GDP was $608.1 billion. With 3% inflation in 2020, nominal GDP increased by % and real GDP grew by %. Exports Corporate profits before taxes Capital consumption allowances (depreciation) Government current purchases of goods and services Accrued net income of farm operators from farm production Indirect taxes (less subsidies) Wages, salaries, supplementary labour income Gross investment Personal saving Corporate income taxes Government transfer payments Interest and miscellaneous investment income Net income from nonfarm unincorporated businesses, including rent Personal consumption expenditures Imports Inventory valuation adjustment Undistributed corporate profits Personal taxes Billion $ 169 46 76 133 4 75 371 139 49 17 149 59 36 398 170 2 7 136

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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File he%20math).pdf 1 / 1 100% + Exports Corporate profits before taxes Capital consumption allowances GDP (the math).pdf Danland's National Income Accounts (2020) a) Use the available data to calculate Danland's 2020 GDP using the expenditure approach or the income approach. b) In 2019, Danland's GDP was $608.1 billion. With 3% inflation in 2020, nominal GDP increased by % and real GDP grew by %. (depreciation) Government current purchases of goods and services Accrued net income of farm operators from farm production Indirect taxes (less subsidies) Wages, salaries, supplementary labour income Gross investment Personal saving Corporate income taxes Government transfer payments Interest and miscellaneous investment income Net income from nonfarm unincorporated businesses, including rent Personal consumption expenditures Imports Inventory valuation adjustment Undistributed corporate profits Personal taxes Billion $ 169 46 76 133 4 75 371 139 49 17 149 59 36 % + 398 170 2 7 136
Transcribed Image Text:File he%20math).pdf 1 / 1 100% + Exports Corporate profits before taxes Capital consumption allowances GDP (the math).pdf Danland's National Income Accounts (2020) a) Use the available data to calculate Danland's 2020 GDP using the expenditure approach or the income approach. b) In 2019, Danland's GDP was $608.1 billion. With 3% inflation in 2020, nominal GDP increased by % and real GDP grew by %. (depreciation) Government current purchases of goods and services Accrued net income of farm operators from farm production Indirect taxes (less subsidies) Wages, salaries, supplementary labour income Gross investment Personal saving Corporate income taxes Government transfer payments Interest and miscellaneous investment income Net income from nonfarm unincorporated businesses, including rent Personal consumption expenditures Imports Inventory valuation adjustment Undistributed corporate profits Personal taxes Billion $ 169 46 76 133 4 75 371 139 49 17 149 59 36 % + 398 170 2 7 136
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