(all figures are in billions of dollars): Amount ($ 1,721.6 1,096.3 382.7 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 990.8 688.2 Corporate income taxes Consumption expenditures Indirect business taxes 265.2 6,739.4 664.6 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 1,475.8 343.7 56.5 702.7 130.3 1,366.3 286.2 1,235.7

(all figures are in billions of dollars): Amount ($ 1,721.6 1,096.3 382.7 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 990.8 688.2 Corporate income taxes Consumption expenditures Indirect business taxes 265.2 6,739.4 664.6 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 1,475.8 343.7 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

Section: Chapter Questions

Problem 1QTC

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Question

Calculate GDP using the Income Approach.

(all figures are in billions of dollars):
Amount ($)
1,721.6
1,096.3
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
382.7
990.8
688.2
Corporate income taxes
Consumption expenditures
Indirect business taxes
265.2
6,739.4
664.6
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
1,475.8
343.7
56.5
702.7
130.3
1,366.3
286.2
Personal taxes
1,235.7

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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