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Tim owns a rental car company, TCC Inc, which is located in Buffalo, NY. In 2019, TCC collected total revenue of $1 million by offering
Tim owns a rental car company, TCC Inc, which is located in Buffalo, NY. In 2019, TCC collected total revenue of $1 million by offering car rental services to consumers. It paid $600,000 to it workers, including $500,000 to domestic workers, and $100,000 to foreign workers. TCC's equipment (mostly cars) depreciated by $125,000 in value. TCC also paid $50,000 in corporate taxes, a dividend of $150,000 to Tim, and retained $75,000 of earnings.
How much did TCC contribute to each of the following in 2019?
- GDP
- GNP
- NNP
- Corporate profits
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