tems in Dreamland’s national accounts include: Government expenditure on goods and services: $500 Consumption expenditure: $1,950 Rent and interest: $400 Indirect taxes: $350 Investment: $550 Wages: $1,600 Profit: $400 Net exports: $200 Depreciation: $450 a) Use the expenditure approach to calculate GDP. b) Use the income approach to calculate GDP
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a) Use the expenditure approach to calculate GDP. ** Show more…
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$$\begin{array}{lr} \text { Item } & \text { Billions of dollars } \\ \hline \text { Wages } & 8,000 \\ \text { Consumption expenditure } & 10,000 \\ \text { Other factor incomes } & 3,400 \\ \text { Investment } & 1,500 \\ \text { Government expenditure } & 2,900 \\ \text { Net exports } & -340 \end{array}$$ Explain the approach (expenditure or income) that you used to calculate GDP.
The table lists some national accounts data for the United States: a) Calculate U.S. GDP b) Which approach you used to calculate GDP?
Joram H.
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions: Consumption of employees: $194.2 U.S. exports of goods and services: 26.8 Consumption of fixed capital: 16.1 Government purchases: 55.1 Taxes on production and imports: 14.4 Net private domestic investment: 47.8 Transfer payments: 13.9 U.S. Imports of goods and services: 25.9 Personal taxes: 40.5 Net foreign factor income: 6.5 Personal consumption expenditure: 223.4 Statistical discrepancy: 0
Supreeta N.
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