Consider the following hypothetical data for the U.S. economy in 2014 (in trillions of dollars), and assume that there are no statistical discrepancies or other adjustments.
Profit................................................................2.8
Indirect business taxes and transfers............................0.8
Rent.................................................................0.7
Interest..............................................................0.8
Wages...............................................................8.2
Depreciation.......................................................1.3
Consumption.....................................................11.0
Exports.............................................................1.5
Government transfer payments.................................2.0
Personal income taxes and nontax payments..................1.7
Imports.............................................................1.7
Corporate taxes and retained earnings.........................0.5
Social Security contributions....................................2.0
Government spending............................................1.8
a. What is gross domestic income? GDP?
b. What is gross private domestic investment?
c. What is personal income, Personal disposable income