(in millions of dollars) Consumption 20000 Investment 2500 Depreciation 2000 Corporate Profit...
|
(in millions of dollars) |
|
|
Consumption |
20000 |
|
Investment |
2500 |
|
Depreciation |
2000 |
|
Corporate Profits |
2800 |
|
Exports |
2000 |
|
Surpluses of Government Enterprises |
2000 |
|
Compensation of Employees |
9300 |
|
Proprietor's Income |
2000 |
|
Net Interest |
30 |
|
Government Purchases |
800 |
|
Direct Taxes |
900 |
|
Net Indirect Taxes |
600 |
|
Imports |
90 |
|
Retained Earnings of Corporations |
600 |
|
Receipt of Factor Income from Rest of the World |
900 |
|
Payment of Factor Income to Rest of the World |
400 |
- Calculate GDP by income approach.
- Calculate National Income (NNP) by expenditure approach.
- Calculate Disposable Personal Income.
Homework Answers
GDP at MP by income method= wages+ rent+ interest+ Corporate profit+ Proprietor income+compensation of employees +Depreciation+ indirect business tax
=0+0+30+2800+2000+9300+2000+600
=16,730
2.
NNP at FC by expenditure method=C+I+G+X-M-depreciation+ receipt of factor income from Rest of the world – payment of factor income to rest of the world.
=20,000+2500+800+2000-90-2000+900-400
=$23,710
c.
Personal Income=National income+ transfer payments- corporate retained earning- corporate taxes- social security taxes
=23,710+0-600-0-0
=$23,110
Personal Disposable income= Personal income- personal taxes
=23,110-900
=22,210
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