Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

National Income Accounting. All figures are in billions of dollars for 2015 Personal Consumption Expenditures $400 Corporate Income taxes 22 Net Exports 20 Depreciation (CCA)

National Income Accounting. All figures are in billions of dollars for 2015

Personal Consumption Expenditures

$400

Corporate Income taxes

22

Net Exports

20

Depreciation (CCA)

43

Government purchases of goods & services

108

Gross Investment

88

Personal taxes

45

Government transfer payments

24

Personal savings

22

The price index (GDP Deflator) in 2015 is 117; calculate the real GDP for 2015 (USE 2 DECIMALS)

Answer:

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Microeconomics

Authors: Robert Frank

7th Edition

1260111083, 9781260111088

More Books

Students also viewed these Economics questions

Question

11.4 Describe the four major types of investment risks.

Answered: 1 week ago

Question

=+a) What time series components do you observe in this series?

Answered: 1 week ago

Question

2. Information that comes most readily to mind (availability).

Answered: 1 week ago

Question

3. An initial value (anchoring).

Answered: 1 week ago

Question

4. Similarity (representativeness).

Answered: 1 week ago