Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Compensation of employees U.S. exports of goods and services Consumption of fixed capital Government purchases Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services Personal taxes Net foreign factor income Personal consumption expenditures Statistical discrepancy Instructions: Round your answers to 1 decimal place. a. GDP = $ billion b. NDP = $ billion c. NI=$1 billion Billions $195.2 18.8 11.8 59.4 14.4 52.1 13.9 16.5 40.5 2.2 219.1 0.0
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Compensation of employees U.S. exports of goods and services Consumption of fixed capital Government purchases Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services Personal taxes Net foreign factor income Personal consumption expenditures Statistical discrepancy Instructions: Round your answers to 1 decimal place. a. GDP = $ billion b. NDP = $ billion c. NI=$1 billion Billions $195.2 18.8 11.8 59.4 14.4 52.1 13.9 16.5 40.5 2.2 219.1 0.0
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions.
Category
Compensation of employees
U.S. exports of goods and services
Consumption of fixed capital
Government purchases
Taxes on production and imports
Net private domestic investment
Transfer payments
U.S. imports of goods and services
Personal taxes
Net foreign factor income
Personal consumption expenditures
Statistical discrepancy
Instructions: Round your answers to 1 decimal place.
a. GDP = $
billion
b. NDP = $
c. NI=$1
billion
billion
Billions
$ 195.2
18.8
11.8
59.4
14.4
52.1
13.9
16.5
40.5
2.2
219.1
0.0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0ce2abb0-0757-4736-b725-227c6a08cdfb%2Fab5c7f5b-ad79-47c1-af5c-6d88e32759ab%2F5401bf8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions.
Category
Compensation of employees
U.S. exports of goods and services
Consumption of fixed capital
Government purchases
Taxes on production and imports
Net private domestic investment
Transfer payments
U.S. imports of goods and services
Personal taxes
Net foreign factor income
Personal consumption expenditures
Statistical discrepancy
Instructions: Round your answers to 1 decimal place.
a. GDP = $
billion
b. NDP = $
c. NI=$1
billion
billion
Billions
$ 195.2
18.8
11.8
59.4
14.4
52.1
13.9
16.5
40.5
2.2
219.1
0.0
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 5 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
![Principles of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305585126/9781305585126_smallCoverImage.gif)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Managerial Economics: A Problem Solving Approach](https://www.bartleby.com/isbn_cover_images/9781337106665/9781337106665_smallCoverImage.gif)
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
![Managerial Economics & Business Strategy (Mcgraw-…](https://www.bartleby.com/isbn_cover_images/9781259290619/9781259290619_smallCoverImage.gif)
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education