Below is a list of domestic output and national income figures for a certain year All figures are in billions. The questions that follow ask you to determine the major national income measures by both the expenditures and the income approaches Billions 11 16 223 Category Personal consumption expenditures Net foreign factor income Transfer payments Rents Statistical discrepancy Consumption of foxed capital (depreciation) Social Security contributions Interest Proprietors Income Personal saving Billions Category $245 Not exports 4 Dividends 12 Compensation of employees 14 Taxes on production and imports 8 Undistributed corporate profits 27 Personal taxes 20 Corporate income taxes 13 Corporate profits 43 Government purchases 30 Net private domestic investment 18 21 26 19 56 32 33 a. Using the above data, determine GDP by both the expenditures approach and the income approach. Then determine NDP GDP using the expenditures approach = $ billion GDP using the income approach = $[ billion NDP = $billion ETTY b. Now determine Nl in two ways: first, by making the required additions or subtractions from NDP (method 1). and second, by adding up the types of income and taxes that make up Ni (method 2). Method 1 = $ billion Method 2-$ billion c. Adjust Nl (from part b) as required to obtain PL PI-$ billion d. Adjust Pi (from partc) as required to obtain DI DIS billion