Use the data below to calculate GDP using the expenditure approach. (I intentionally left out some of the income categories so that you must use the expenditure approach). Then calculate NDP, NI, PI, and DI. (All figures are in billions of dollars): Consumption of Fixed Capital (Depreciation) Corporate Income Taxes Dividends Exports Government Purchases Imports Indirect Business Taxes Interest Net foreign factor income earned in the U.S. Gross Private Domestic Investment Personal Consumption Expenditure Personal Taxes Proprietor's Income Rents Social Security Contributions Transfer Payments Undistributed Corporate Profits 543.4 124.3 103.2 483.8 1071.6 597.1 318.4 426.8 39.4 897,4 3062.6 566.6 354.2 47.1 379.5 475.8 126.7 C GDP=$ Billion Billion NDP = $ NI-S Pl=S DI = $ Billion Billion Billion

Use the data below to calculate GDP using the expenditure approach. (I intentionally left out some of the income categories so that you must use the expenditure approach). Then calculate NDP, NI, PI, and DI. (All figures are in billions of dollars): Consumption of Fixed Capital (Depreciation) Corporate Income Taxes Dividends Exports Government Purchases Imports Indirect Business Taxes Interest Net foreign factor income earned in the U.S. Gross Private Domestic Investment Personal Consumption Expenditure Personal Taxes Proprietor's Income Rents Social Security Contributions Transfer Payments Undistributed Corporate Profits 543.4 124.3 103.2 483.8 1071.6 597.1 318.4 426.8 39.4 897,4 3062.6 566.6 354.2 47.1 379.5 475.8 126.7 C GDP=$ Billion Billion NDP = $ NI-S Pl=S DI = $ Billion Billion Billion

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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