Using the table below, calculate GDP for a particular year. Wages and salaries $4,000 Government purchases of goods and services $1,000 Exports $1,600 Rental income $600 Consumption spending $6,000 Transfer payments $600 Private investment spending $1,200 Profit $1,200 Imports $600 Interest income $800 Purchases of corporate stock $500 a. $10,100 b. $9,800 c. $7,000 d. $9,200
Using the table below, calculate GDP for a particular year. Wages and salaries $4,000 Government purchases of goods and services $1,000 Exports $1,600 Rental income $600 Consumption spending $6,000 Transfer payments $600 Private investment spending $1,200 Profit $1,200 Imports $600 Interest income $800 Purchases of corporate stock $500 a. $10,100 b. $9,800 c. $7,000 d. $9,200
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Using the table below, calculate GDP for a particular year.
Wages and salaries $4,000
Government purchases of goods and services $1,000
Exports $1,600
Rental income $600
Consumption spending $6,000
Transfer payments $600
Private investment spending $1,200
Profit $1,200
Imports $600
Interest income $800
Purchases of corporate stock $500
a. $10,100
b. $9,800
c. $7,000
d. $9,200
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