9. One day Barry the Barber, Inc., collects $400 for haircuts. Over this day, his equipment depreciates
Question:
9. One day Barry the Barber, Inc., collects $400 for haircuts.
Over this day, his equipment depreciates in value by
$50. Of the remaining $350, Barry sends $30 to the government in sales taxes, takes home $220 in wages, and retains $100 in his business to add new equipment in the future. From the $220 that Barry takes home, he pays $70 in income taxes. Based on this information, compute Barry’s contribution to the following measures of income:
a. gross domestic product
b. net national product
c. national income
d. personal income
e. disposable personal income
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Question Posted: