alculate GDP using the Income and Expenditure ApPproach. (all figures are in billions of dollars): Amount ($) 1,721.6 1,096.3 382.7 990,8 Item Government purchase of goods and services Exports Receipts of factor income from the rest of the world Depreciation (consumption of fixed capital) Net fixed Investments 688.2 Corporate income taxes Consumption expenditures Indirect business taxes Imports Payments of factor income to the rest of the world Inventory change Social security contributions Undistributed corporate profits (retained earnings) Government transfer and interest payments Personal interest payments Personal taxes 265.2 6,739.4 664.6 1,475.8 343,7 56.5 702.7 130.3 1,366.3 286.2 1,235.7

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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(a) Calculate GDP using the Income and Expenditure Approach.
(all figures are in billions of dollars):
Item
Amount ($)
Government purchase of goods and services
Exports
Receipts of factor income from the rest of the world
Depreciation (consumption of fixed capital)
Net fixed Investments
Corporate income taxes
Consumption expenditures
Indirect business taxes
| Imports
Payments of factor income to the rest of the world
Inventory change
Social security contributions
Undistributed corporate profits (retained earnings)
Government transfer and interest payments
Personal interest payments
Personal taxes
1,721.6
1,096.3
382.7
990,8
688.2
265,2
6,739.4
664.6
1,475.8
343.7
56.5
702.7
130.3
1,366.3
286.2
1,235.7
Transcribed Image Text:(a) Calculate GDP using the Income and Expenditure Approach. (all figures are in billions of dollars): Item Amount ($) Government purchase of goods and services Exports Receipts of factor income from the rest of the world Depreciation (consumption of fixed capital) Net fixed Investments Corporate income taxes Consumption expenditures Indirect business taxes | Imports Payments of factor income to the rest of the world Inventory change Social security contributions Undistributed corporate profits (retained earnings) Government transfer and interest payments Personal interest payments Personal taxes 1,721.6 1,096.3 382.7 990,8 688.2 265,2 6,739.4 664.6 1,475.8 343.7 56.5 702.7 130.3 1,366.3 286.2 1,235.7
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