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Question 13:Please use the income approach to calculate GDP in the economy of Spain where consumption = 5 billion euros, total wages for the entire
Question 13:Please use the income approach to calculate GDP in the economy of Spain where consumption = 5 billion euros, total wages for the entire economy are 4 billion, investment = 2 billion euros, Spanish firms make 5 billion worth of profits, the federal government spends 1 billion and the state and local governments spend 2 billion, imports are 1 billion and exports are 10 billion, interest income is 7 billion, and the owners of capital get 3 billion.
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