Use the expenditure approach to calculate the value of the GDP in column B.Use the income approach to calculate the value of the GDP in column C.Explain in your own words the reason why the aggregate GDP income equals the aggregate GDP expenditure. GDP Category (A) Qtr4-202x Values (B) GDP from Expenditure Approach (C) GDP from Income Approach Consumer consumption expenditure 1,385 Government consumption and expenditure 659 Rent and interest 347 Investments by businesses 535 Corporate profit 992 Net exports 325 Wages 1,422 Indirect taxes less subsidies 312 Depreciation 444 Total xxx xxx

This can be defined as a concept that shows the total production of products and services in an…

Answered: Use the expenditure approach to…

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Tracking The U.s. Economy

Section: Chapter Questions

Problem 1.2P

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Use the expenditure approach to calculate the value of the GDP in column B.
Use the income approach to calculate the value of the GDP in column C.
Explain in your own words the reason why the aggregate GDP income equals the aggregate GDP expenditure.

GDP Category	(A) Qtr4-202x Values	(B) GDP from Expenditure Approach	(C) GDP from Income Approach
Consumer consumption expenditure	1,385
Government consumption and expenditure	659
Rent and interest	347
Investments by businesses	535
Corporate profit	992
Net exports	325
Wages	1,422
Indirect taxes less subsidies	312
Depreciation	444
Total		xxx	xxx

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