Question

Q1. Use the following data to answer the questions below. All figures are in billions.

Receipts of factor income =10
Payments of factor income =3.6
Dividends =25.6
Corporate Income Taxes =30.4
Consumption=392
Net Private Domestic Investment =52.8
Rent =22.4
Social Security Contributions= 32
Proprietor’s Income =52.8
Net Exports =17.6
Wages and Salaries =356.8
Undistributed Corporate Profits =33.6
Personal Taxes =41.6
Government Purchases =115.2
Personal Saving =32
Depreciation =43.2
Taxes on Production and Imports =28.8
Corporate Profits =89.6
Interest =20.8
Transfer Payments =19.2

A. Calculate GDP by both the expenditures and the income approaches.

B. Calculate NDP.

C. Calculate NI in two ways.

D. Calculate PI from NI

E. Calculate DI and Personal saving rate.

Answer 1

Answer:

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Explanation:

Q1. Use the following data to answer the questions below. All figures are in billions.

Receipts of factor income =10

Payments of factor income =3.6

Dividends =25.6

Corporate Income Taxes =30.4

Consumption=392

Net Private Domestic Investment =52.8

Rent =22.4

Social Security Contributions= 32

Proprietor’s Income =52.8

Net Exports =17.6

Wages and Salaries =356.8

Undistributed Corporate Profits =33.6

Personal Taxes =41.6

Government Purchases =115.2

Personal Saving =32

Depreciation =43.2

Taxes on Production and Imports =28.8

Corporate Profits =89.6

Interest =20.8

Transfer Payments =19.2

A. Calculate GDP by both the expenditures and the income approaches.

B. Calculate NDP.

C. Calculate NI in two ways.

D. Calculate PI from NI

E. Calculate DI and Personal saving rate.