Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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QUESTION 4
Refer to the table (all figures in billions of dollars). The personal income (PI) for this economy is
#:
Items
Amount
(i)
(1)
Personal Taxes
$40
(2)
Social Security Contributions
$15
(3)
Taxes on Production and Imports
$20
(4)
Corporate Income Taxes
$40
(5)
Transfer Payments
$22
(6)
U.S. Exports
$24
(7)
Undistributed Corporate Profits
$35
(8)
Government Purchases
$90
(9)
Gross Private Domestic Investment
$75
(10)
U.S. Imports
$22
(11)
Personal Consumption Expenditures
$250
(12)
Consumption of Fixed Capital
$25
(13)
Net Foreign Factor Income
$10
(14)
Statistical Discrepancy
$0
O $314
O $346
O $402
O $408
O $437](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Febddf0c2-795f-4330-bc28-152ef94b21f5%2F7dc7918d-b278-42be-8ef9-5864af3db30b%2F71vl7q8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question Completion Status:
QUESTION 4
Refer to the table (all figures in billions of dollars). The personal income (PI) for this economy is
#:
Items
Amount
(i)
(1)
Personal Taxes
$40
(2)
Social Security Contributions
$15
(3)
Taxes on Production and Imports
$20
(4)
Corporate Income Taxes
$40
(5)
Transfer Payments
$22
(6)
U.S. Exports
$24
(7)
Undistributed Corporate Profits
$35
(8)
Government Purchases
$90
(9)
Gross Private Domestic Investment
$75
(10)
U.S. Imports
$22
(11)
Personal Consumption Expenditures
$250
(12)
Consumption of Fixed Capital
$25
(13)
Net Foreign Factor Income
$10
(14)
Statistical Discrepancy
$0
O $314
O $346
O $402
O $408
O $437
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