Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Hello there I am trying to figure out why the national income for the following problem the answer is $519 I got wages $382 +
Hello there
I am trying to figure out why the national income for the following problem the answer is $519
I got wages $382 + interest $10 + profits $17 + self employed $49 = Net domestic income 468 - net foreign factor income $ -24 = National Income = 444 but is wrong. It should be $519 but i dont know why
Can you please help me to understand the answer?
thank you
Table 2: National Income Statement | |
Net exports | $50 |
Government purchases of goods and services | 148 |
Corporation income taxes | 26 |
Consumption expenditures | 350 |
Indirect taxes | 40 |
Depreciation | 53 |
Wages and salaries | 382 |
Net income of farmers | 10 |
Interest | 37 |
Self-employed income | 49 |
Gross investment | 88 |
Government transfer payments | 34 |
Undistributed corporate profits | 22 |
Net foreign factor income | -24 |
Corporation dividends | 17 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started