From TABLE 1, calculate Gross Domestic Product (GDP) using either the Expenditure or the Income Approach.

Hints:

For Expenditure Approach, use: GDP= C+I+G+NX

For Income Approach, use GDP = w + r + i + Pr + IBT + CKA + NFFI

(Note: Pr = PI+D+CIT+UCP)

Using TABLE 1, calculate the value of Gross National Product (GNP).

Hints:

GNP = GDP - NFFI

For Expenditure Approach, use: GDP= C+I+G+NX

For Income Approach, use GDP = w + r + i + Pr + IBT + CKA + NFFI

(Note: Pr = PI+D+CIT+UCP)

From TABLE 1, what is Net Domestic Product (NDP)?

Hints:

NDP = GDP - KCA

For Expenditure Approach, use: GDP= C+I+G+NX

For Income Approach, use GDP = w + r + i + Pr + IBT + CKA + NFFI

(Note: Pr = PI+D+CIT+UCP)

From TABLE 1, what is National Income (NI)?

Hints:

NI = NDP - IBT - NFFI

NDP = GDP - KCA

For Expenditure Approach, use: GDP= C+I+G+NX

For Income Approach, use GDP = w + r + i + Pr + IBT + CKA + NFFI

(Note: Pr = PI+D+CIT+UCP)

Items $ billion Net Exports 267 Dividends 50 Capital consumption allowance 203 Government expenditures 377 Rents 260 Sale of intermediate goods 300 Indirect business taxes 135 Wages 900 Corporate income taxes 95 Interest 160 Proprietor's income 112 Personal consumption expenditure 1560 Undistributed corporate profits 85 Gross private domestic investment 330 Net Foreign Factor Income 0 TABLE 1