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The following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars. Billions of Dollars Gross private domestic investment $1,700
The following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars. Billions of Dollars Gross private domestic investment $1,700 Depreciation $1,387 Exports $2,320 Imports $1,500 Government purchases of goods and services $3,921 Personal consumption expenditures $5,700 Indirect business taxes and misc. items $741 Income received from other countries $518 Income paid to other countries $422 Compensation of employees (wages) $7,574 Corporate profits $1,295 Rental income $35 Net interest $303 Proprietors' income $743 If you calculate GDP by adding together the final demands of consumers, business firms, the government, and foreigners (i.e., using the expenditure approach), GDP for this economy is |$ billion. Given this information, the statistical discrepancy between national income and net national product, obtained when GDP is measured using the expenditure approach, is $ billion
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