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Using the following national income accounting data, compute (a) GDP, (b) NDP, and () NI. All figures are in billions. Category Billions Compensation of employees U.S. exports of goods and nervices Consumption of fixed capital Government purchases Taxes on production and imports Net private domentic investment Transfer payments U.S. imports of goods and services Personal taxes Net foreign factor income Personal consumption expenditures Statistical discrepancy $ 224.2 17.8 11.8 59.4 14.4 52.1 13.9 16.5 40.5 2.2 249.1 0.0 Instructions: Round your answers to 1 decimal place. a. GDP $ 373.7 billion

Using the following national income accounting data, compute (a) GDP, (b) NDP, and () NI. All figures are in billions. Category Billions Compensation of employees U.S. exports of goods and nervices Consumption of fixed capital Government purchases Taxes on production and imports Net private domentic investment Transfer payments U.S. imports of goods and services Personal taxes Net foreign factor income Personal consumption expenditures Statistical discrepancy $ 224.2 17.8 11.8 59.4 14.4 52.1 13.9 16.5 40.5 2.2 249.1 0.0 Instructions: Round your answers to 1 decimal place. a. GDP $ 373.7 billion

Exploring Economics
Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter19: Measuring Economic Performance
Section: Chapter Questions
Problem 6P
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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 Consumption of fixed capital Government purchases Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services $ 224.2 17.8 11.8 59.4 14.4 52.1 13.9 16.5 Personal taxes 40.5 Net foreign factor income Personal consumption expenditures Statistical discrepancy 2.2 249.1 0.0 Instructions: Round your answers to 1 decimal place. a. GDP = $ 373.7 billion in b. NDP = $ 376.3 billion c. NI = $ 378.5 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 Consumption of fixed capital Government purchases Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services $ 224.2 17.8 11.8 59.4 14.4 52.1 13.9 16.5 Personal taxes 40.5 Net foreign factor income Personal consumption expenditures Statistical discrepancy 2.2 249.1 0.0 Instructions: Round your answers to 1 decimal place. a. GDP = $ 373.7 billion in b. NDP = $ 376.3 billion c. NI = $ 378.5 billion
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