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A hypothetic economy has the following expenditure totals $'millions Government Purchases 2,000 Salaries 5,000 Income Taxes 1,055 Retained Profits 1,500 Interest 250 Rental Income 1,750

A hypothetic economy has the following expenditure totals $'millions Government Purchases 2,000 Salaries 5,000 Income Taxes 1,055 Retained Profits 1,500 Interest 250 Rental Income 1,750 Depreciation 250 Sales Tax 1,075 Investments 1,500 Consumption 6,000 Net Income Earned Abroad 1,500 Transfers 1,000 Dividends 300 Proprietors Income 1,700 Profits 1,175 Net Exports 500 28. Calculate GDP a. $10,000 b. $9,000 c. $9,500 d. $8,250 e. None of the above 29. Calculate GNP a. $10,000 b. $9,000 c. $9,500 d. $11,500 e. None of the above

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