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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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
Transcribed Image Text: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
GDP = $
NDP = $
NI-S
PI=S
DI = $
Billion
Billion
Billion
Billion
Billion
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