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Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Billions Compensation of employees U.S. exports of goods and services $ 195.2 18.8 Consumption of fixed capital 11.8 Government purchases 59.4 Taxes on production and imports 14.4 Net private domestic investment 52.1 Transfer payments 13.9 U.S. imports of goods and services 16.5 Personal taxes 40.5 Net foreign factor income 2.2 Personal consumption expenditures 219.1 0.0 Statistical discrepancy Instructions: Round your answers to 1 decimal place. a. GDP = $ 344.7 billion b. NDP = $ 332.9 billion c. NI=$ billion

Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Billions Compensation of employees U.S. exports of goods and services $ 195.2 18.8 Consumption of fixed capital 11.8 Government purchases 59.4 Taxes on production and imports 14.4 Net private domestic investment 52.1 Transfer payments 13.9 U.S. imports of goods and services 16.5 Personal taxes 40.5 Net foreign factor income 2.2 Personal consumption expenditures 219.1 0.0 Statistical discrepancy Instructions: Round your answers to 1 decimal place. a. GDP = $ 344.7 billion b. NDP = $ 332.9 billion c. NI=$ billion

MACROECONOMICS
MACROECONOMICS
14th Edition
ISBN:9781337794985
Author:Baumol
Publisher:Baumol
Chapter5: An Introduction To Macroeconomics
Section: Chapter Questions
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Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Billions Compensation of employees U.S. exports of goods and services $ 195.2 18.8 Consumption of fixed capital 11.8 Government purchases 59.4 Taxes on production and imports 14.4 Net private domestic investment 52.1 Transfer payments 13.9 U.S. imports of goods and services 16.5 Personal taxes 40.5 Net foreign factor income 2.2 Personal consumption expenditures 219.1 0.0 Statistical discrepancy Instructions: Round your answers to 1 decimal place. a. GDP = $ 344.7 billion b. NDP = $ 332.9 billion c. NI=$ billion
Transcribed Image Text:Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Billions Compensation of employees U.S. exports of goods and services $ 195.2 18.8 Consumption of fixed capital 11.8 Government purchases 59.4 Taxes on production and imports 14.4 Net private domestic investment 52.1 Transfer payments 13.9 U.S. imports of goods and services 16.5 Personal taxes 40.5 Net foreign factor income 2.2 Personal consumption expenditures 219.1 0.0 Statistical discrepancy Instructions: Round your answers to 1 decimal place. a. GDP = $ 344.7 billion b. NDP = $ 332.9 billion c. NI=$ billion
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