Given the values in the table, the value of national income (NI) is $ billion National income is a better measure of economic performance than GDP because it adds subtracts the loss in capital value measured by depreciation.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Suppose the following data are from the Economic Report of the President for the current year.
Use the data in this table to answer the questions that follow.
National Income Data
Spending Category
Corporate profits
Depreciation
Gross private domestic investment
Personal taxes
Personal saving
Government spending
Imports
Net interest
Compensation of employees
Rental income
Exports
Personal consumption expenditures
Indirect business taxes
Contributions for Social Security (FICA)
Transfer payments and other income
Proprietors' income
Amount
(Billions of dollars)
305
490
716
565
120
924
547
337
2,648
19
427
2,966
370
394
967
328
Given the values in the table, the value of national income (NI) is $
billion
National income is a better measure of economic performance than GDP because it
adds
subtracts
the loss in capital value measured by depreciation.
Transcribed Image Text:Suppose the following data are from the Economic Report of the President for the current year. Use the data in this table to answer the questions that follow. National Income Data Spending Category Corporate profits Depreciation Gross private domestic investment Personal taxes Personal saving Government spending Imports Net interest Compensation of employees Rental income Exports Personal consumption expenditures Indirect business taxes Contributions for Social Security (FICA) Transfer payments and other income Proprietors' income Amount (Billions of dollars) 305 490 716 565 120 924 547 337 2,648 19 427 2,966 370 394 967 328 Given the values in the table, the value of national income (NI) is $ billion National income is a better measure of economic performance than GDP because it adds subtracts the loss in capital value measured by depreciation.
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