Use the following data to answer the following questions (all figures are in billions of dollars):
Item Amount
Government purchases of
goods and services………………………….$1,721.6
Exports……………………………………... 1,096.3
Receipts of factor income from
the rest of the world………………………… 382.7
Depreciation (consumption of
fixed capital)………………………………... 990.8
Net fixed investment……………………….. 688.2
Corporate income taxes…………………….. 265.2
Consumption expenditures…………………. 6,739.4
Indirect business taxes……………………… 664.6
Imports……………………………………… 1,475.8
Payments of factor income to
the rest of the world………………………… 343.7
Inventory change……………………………. 56.5
Social Security contributions………………... 702.7
Undistributed corporate
profits (retained earnings)…………………… 130.3
Government transfer and
interest payments……………………………. 1,366.3
Personal interest payments………………….. 286.2
Personal taxes……………………………….. 1,235.7
(a) What is gross domestic product?
(b) What is gross national product?
(c) What is net domestic product?
(d) What is domestic income?
(e) What is personal income?
(f) What is disposable personal income?
(g) What is personal saving?