Homework Answers
Answer:
GDP ($ trillion) = Consumption + Investment + Government expenditure + Net exports = 7.7 + 1.6 + 2.0 - 0.5 = 10.8
GDP - GNP ($ trillion) = 10.8 - 11 = -0.2 trilllion
National income(NI) = GNP- depreciation
= $(11 – 1.3) trillion= $ 9.7 trillion
GNP – NI= 11 – 9.7 = 1.3 trillion
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