1.        The following is a list of figures for a given year in billions of dollars.  Using this data, compute: ...

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1.        The following is a list of figures for a given year in billions of dollars.  Using this data, compute:  (a) GDP; (b) NDP; (c) NI; (d) PI; (e) DI; (f) Net exports.  Show all calculations.  You should use the expenditures approach to calculate GDP.

 

 

Billions

of dollars

Transfer payments

$   16

Government purchases

80

Personal taxes

38

Corporate income taxes

28

Taxes on production and imports

15

Social Security contributions

8

Undistributed corporate profits

19

Proprietors’ income

25

Compensation of employees

258

Personal consumption expenditures

322

Consumption of fixed capital

4

Rents

10

U.S. Exports

14

Corporate profits

70

Interest

12

Dividends

23

Imports to U.S.

17

Gross private domestic investment

63

Net foreign factor income

10

Statistical discrepancy

35

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