Calculate GDP using the Income and Expenditure Approach. (all figures are in billions of dollars): Amount ($) 1,721.6 1,096.3 Item Government purchase of goods and services Exports Receipts of factor income from the rest of the world Depreciation (consumption of fixed capital) Net fixed Investments 382.7 990.8 688.2 Corporate income taxes Consumption expenditures Indirect business taxes 265.2 6,739.4 664.6 1,475.8 Imports Payments of factor income to the rest of the world Inventory change Social security contributions 343.7 56.5 702.7 Undistributed corporate profits (retained earnings) 130 3
Calculate GDP using the Income and Expenditure Approach. (all figures are in billions of dollars): Amount ($) 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 1,475.8 Imports Payments of factor income to the rest of the world Inventory change Social security contributions 343.7 56.5 702.7 Undistributed corporate profits (retained earnings) 130 3
Chapter5: Gross Domestic Product
Section: Chapter Questions
Problem 1SQ
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Calculate GDP using the Income and Expenditure Approach.
(all figures are in billions of dollars):
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