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you have completed so far. It does not indicate completion 20 Instructions: Enter your answers as whole numbers. 0.65 points a. Using the above data, determine GDP by both the expenditures and the income approaches. Then determine NDP. X Answer is not complete. 00:23:26 GDP using the expenditures approach = $ 60 x billion. GDP using the income approach = billion. NDP = billion . b. Now determine NI 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 NI (from part b) as required to obtain PI. PI = billion. Hill Education MacBook ProCheck my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion 20 b. Now determine NI in two ways: first, by making the required additions or subtractions from NDP (method 1); and second, by adding 0.65 up the types of income and taxes that make up NI (method 2). points Method 1 = billion. 00:23:21 Method 2 = billion . c. Adjust NI (from part b) as required to obtain Pl. PI = billion . d. Adjust PI (from part c) as required to obtain D. DI = billion . Mc Graw Hill cation MacBook Pro20 Problem 7-4 (Algo) 0.65 points 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. The results you obtain with the different methods should be the same. 8 00:23:3 Category Value Category Value al consumption expenditures $285 Net exports 11 Net foreign factor income 4 Dividends 16 Transfer payments 12 Compensation of employees 263 Rents 14 Taxes on production and imports 18 Statistical discr 8 Undistributed corporate profits 21 Consumption of fixed capital (depreciation) 27 Personal taxes 26 Social Security contributions 20 Corporate income taxes 19 Interest 13 Corporate profits 56 Proprietors' income 43 Government purchases 82 Personal saving 30 Net private domestic investment 33 Instructions: Enter your answers as whole numbers. a. Using the above data, determine GDP by both the expenditures and the income approaches. Then determine NDP. x Answer is not complete. GDP using the expenditures : approach = $ 60 x billion. Graw Hill MacBook Pro