Question
I am working out of Mcconnell Brue and Flynn Macroeconomics, Chapter 7, page 157 under problems #5 trying to identify GDP, NDP and NI from
I am working out of Mcconnell Brue and Flynn Macroeconomics, Chapter 7, page 157 under problems #5 trying to identify GDP, NDP and NI from the below information:
Compensation of Employees $194.2
US exports of good and services $17.8
Consumption of fixed capital $11.8
Government purchases $59.4
Taxes on production and imports $14.4
Net private domestic investment $52.1
Transfer payments $13.9
US Imports of goods and services $16.5
Personal taxes $40.5
Net foreign factor income $2.2
Personal consumption expenditures $219.1
Statistical discrepancy $0.0
All figures are in the billions.
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