Question

apter 7 Homework Saved Help Save & Exit Submit Check my work 5 Below is a list of domestic output and national income fiqures for a certain voar. All fiqures are in billion The questions that follow ask you to determine the major national income measures by both the expenditures and the income approaches. The results you obtain with the different methods should be the same. nts Category Value Category Value Personal consumption expenditures. $245 Personal saving 20 Net foreign factor incomer 4 Dividends 16 Transfer payments 12 Compensation of employees 23 eBook Rents 14 Taxes on production and imports 18 Consumption of fixed capital (depreciation) Statistical discrepancy 27 Undistributed corporate profits 21 Print Personal taxes 26 Social Security contributions 20 Corporate income taxes 19 Interest 13 Corporate profits 56 eferences Proprietors' income 33 Govemment purchases 72 33 Net exports Net private domestic investments 11 Instructions: Enter your answers as whole numbers. a. Using the above data, determine GDP by both the expenditures and the income approaches. Then determine NDP. billion, GDP using the expenditures approach bilion. GDP using the income approach billion. NDP= 10D Check my 5 GDP using the axpenditures approach billion, GDP using the income approach billion. 10 points NDP billion eBook b. Now determine NI in two ways: first, by making the required additions or subtractons from NDP (method 1, and second, by adding up the types of income and taxes that make up NI (method 2). Print Method 1 billion. References Method 2 billion. c. Adjust NI (from part bj as required to obtain P PI billion d. Adjust PI (from part d as required to obtain DI DI billion Mc

Answer 1

Ca) GDP using the expendituares approach C + It Gt NX t Depredathon 8295+33 72ナ1 21 S388 the expendhare app usny appaaeh i 388 GOP esing tme appraach Net Rregn faetor hncame t stadstial duorepomey t iusteret t fopdehr inceme t taues Rent t pepreciatien prolction and ineperts t CerPeriale Pmt t employ ees Compensaion -4 t 14 +27t8t13 +33 + 18t56223 $388 388 9700 win the mme afptach

NDP CAe -Domes tc-Polut Depseciation 27 GDP $388- 3361 NAP Cb) Methad 1 NI NDP t Net een actes inome -Stat Disarep 361 t 4 S357 NI Reat ttoret t paupaietns ineme t empleyees lPsa an t tay on frdu $14 t 13t NIE$357 +Per ote frs 33 t223 + 18t56

NIt Transterpaymends SSCondibuthon-taes undistaiuted enpusdk prh s tares on prid and M panate mome $35 t 12- 20 21-19 PI-Personal tayes $29/- 5265 26