Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Refer to the following table when answering the following questions.
Table 2.2: U.S. 2014-2015 Domestic Income ($ billions)
Compensation of employees, paid
Wages and salaries
Supplements to wages and salaries
Business taxes
Business subsidies
Net operating surplus
Private enterprises
Surplus of government enterprises
Depreciation of fixed capital
(Source: Bureau of Economic Analysis)
$13,219
$17.651
$17.765
Consider Table 2.2. From this data, total GDP in 2014 was about
$14.963
2014
$18.527
9,264
7,487
1,777
1,210
57
4,489
4,509
-20
2,745
2015
9,704
7,866
1,838
1,238
57
4,575
4,593
-19
2,831
billion.
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