All values below are in trillions of dollarsHousehold Consumption$11.9State & Local Government Expenditures$1.46Imports$2.04Gross Private Investment$4.08Federal Government Expenditures$2.80Payments of Factor Income to Other Countries$3.21Depreciation$0.99Exports$1.57 Receipts of Factor Income from Other Countries$3.79If GDP is $20 trillion, GNP is $________trillion.

GDP and GNP both are the measure of national income and output of the country. GDP is the measure of…

Answered: All values below are in trillions of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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All values below are in trillions of dollars

Household Consumption	$11.9	State & Local Government Expenditures	$1.46
Imports	$2.04	Gross Private Investment	$4.08
Federal Government Expenditures	$2.80	Payments of Factor Income to Other Countries	$3.21
Depreciation	$0.99	Exports	$1.57
		Receipts of Factor Income from Other Countries	$3.79

If GDP is $20 trillion, GNP is $________trillion.

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