Imports 17 Depreciation 48 Proprietors' incomes and rents 35 Statistical discrepancy ? a. The income-based estimate of Metrica's GDP is $ billion. b. The expenditure-based estimate of Metrica's GDP is $ billion. c. The value of the statistical discrepancy which is added to the lower estimate and subtracted from the higher estimate to find a single GDP value is $ billion. d. Metrica's GDP is $ billion. The table below shows the national income accounts for a hypothetical economy, Metrica. ($ billions) Corporate income 62 Exports 46 Wages and salaries 342 Net international income to the rest of the world Gross investment 98 Government purchases 115 Indirect taxes 46 Personal consumption 307 Imports
Imports 17 Depreciation 48 Proprietors' incomes and rents 35 Statistical discrepancy ? a. The income-based estimate of Metrica's GDP is $ billion. b. The expenditure-based estimate of Metrica's GDP is $ billion. c. The value of the statistical discrepancy which is added to the lower estimate and subtracted from the higher estimate to find a single GDP value is $ billion. d. Metrica's GDP is $ billion. The table below shows the national income accounts for a hypothetical economy, Metrica. ($ billions) Corporate income 62 Exports 46 Wages and salaries 342 Net international income to the rest of the world Gross investment 98 Government purchases 115 Indirect taxes 46 Personal consumption 307 Imports
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Imports
17
Depreciation
48
Proprietors' incomes and rents
35
Statistical discrepancy
?
a. The income-based estimate of Metrica's GDP is $ billion.
b. The expenditure-based estimate of Metrica's GDP is $ billion.
c. The value of the statistical discrepancy which is added to the lower estimate and subtracted
from the higher estimate to find a single GDP value is $ billion.
d. Metrica's GDP is $ billion.
Transcribed Image Text:The table below shows the national income accounts for a hypothetical economy, Metrica.
($ billions)
Corporate income
62
Exports
46
Wages and salaries
342
Net international income to the rest of the world
Gross investment
98
Government purchases
115
Indirect taxes
46
Personal consumption
307
Imports
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