Homework-GDP calculations

Here are the numbers for a hypothetical economy. The purpose of this assignment is to distinguish between the two ways of calculating GDP (expenditures and income approaches) and how we progress from GDP to DI.

You need to show the calculations and submit as a typed homework.

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Consumption$500

Re-invested profits$80

Investments$100

Personal taxes$70

Exports$80

Corporate taxes$60

Wages$400

Social security tax$100

Imports$100

Social security checks$20

Interest$100

Welfare payments$100

Proprietor's income$60

Unemployment$80

Corporate profits$100

Rent$10

Indirect business tax$50

Depreciation$60

Since the information above does not show the numbers for government spending you cannot start with the expenditure approach so start with the income approach. Use the tables in your textbook and the table in the module to calculate the following

Show how you calculated the following values. Make sure that your answers are typed and that the final number is highlighted. It is often difficult to find the number you decided on as your answer to the question. You may type in the necessary information on a separate page and submit as such.

1-NI

2- NDP

3- GDP

4- Government spending?

5- PI

6- DI

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