Income Approach to Calculating GDP (weight 45% of the assignment grade)

Complete the following exercise: Go tohttp://www.bea.gov/Visit the Bureau of Economic Analysis website atwww.bea.gov.

From the drop-down menu under "Data", click on "by Economics Account".

Then click on "National", "Gross Domestic Product, and "Full Release and Tables".

Use table 7 (Relation of Gross Domestic Product, Gross National Product, and National Income) and table 8 (Personal Income and its Disposition).

1. Create the table that contains the following information for the last quarter where data required for this exercise is available.

Please note that using the data for previous years and/or previous estimateswill producegrade zero for this part of the project.

Omit the intermediate lines found in Tables 7 and 8 on the web site.

Gross domestic product

Gross national product

Netnational product(you should calculate it as Gross national product minus Consumption of fixed capital)

National income

Personal income

Personal Disposable Income

Personal Savings