Using the following national income accounting data, compute GDP by the expenditures approach. All figures are in billions. Category Wages, salaries, and supplementary labour income Canadian exports of goods and services Capital consumption allowances (depreciation) Government current purchases of goods and services Net investment (net capital formation) Canadian imports of goods and services Personal consumption expenditures Instructions: Round your answers to one decimal place. GDP = $3 billion. Value $194.2 17.8 59.4 52.1 16.5 219.1
Using the following national income accounting data, compute GDP by the expenditures approach. All figures are in billions. Category Wages, salaries, and supplementary labour income Canadian exports of goods and services Capital consumption allowances (depreciation) Government current purchases of goods and services Net investment (net capital formation) Canadian imports of goods and services Personal consumption expenditures Instructions: Round your answers to one decimal place. GDP = $3 billion. Value $194.2 17.8 59.4 52.1 16.5 219.1
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:The data for a hypothetical economy in a given year are as follows: The data for
a hypothetical economy in a given year are as follows:
Using the following national income accounting data, compute GDP by the expenditures approach. All figures are in billions.
Value
$194.2
Category
Wages, salaries, and supplementary labour income
Canadian exports of goods and services
Capital consumption allowances (depreciation)
Government current purchases of goods and services
Net investment (net capital formation)
Canadian imports of goods and services
Personal consumption expenditures
Instructions: Round your answers to one decimal place.
GDP = $3319 billion.
17.8
11.8
59.4
52.1
16.5
219.1
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