Government purchase of goods and services 1,721.6 Exports 1,096.3 Receipts of factor income from the rest of the world 382.7 Depreciation (consumption of fixed capital) 990.8 Net fixed Investments 688.2 Corporate income taxes 265.2 Consumption expenditures 6,739.4 Indirect business taxes 664.6 Imports 1,475.8 Payments of factor income to the rest of the world 343.7 Inventory change 56.5 Social security contributions 702.7 Undistributed corporate profits (retained earnings) 130.3 Government transfer and interest payments 1,366.3 Personal interest payments 286.2 Personal taxes 1,235.7

Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
Section: Chapter Questions
Problem 2QP
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Question 2 - Computation and Short Answer 

(a) Calculate GDP using the Income and Expenditure Approach. 
(all figures are in billions of dollars):
Item Amount ($)
Government purchase of goods and services 1,721.6
Exports 1,096.3
Receipts of factor income from the rest of the world 382.7
Depreciation (consumption of fixed capital) 990.8
Net fixed Investments 688.2
Corporate income taxes 265.2
Consumption expenditures 6,739.4
Indirect business taxes 664.6
Imports 1,475.8
Payments of factor income to the rest of the world 343.7
Inventory change 56.5
Social security contributions 702.7
Undistributed corporate profits (retained earnings) 130.3
Government transfer and interest payments 1,366.3
Personal interest payments 286.2
Personal taxes 1,235.7

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