Calculate GDP using the Income and Expenditure Approach. (all figures are in billions of dollars): Amount ($) 1,721.6 1,096.3 Item Government purchase of goods and services Exports Receipts of factor income from the rest of the world Depreciation (consumption of fixed capital) Net fixed Investments Corporate income taxes Consumption expenditures Indirect business taxes Imports Payments of factor income to the rest of the world Inventory change Social security contributions Undistributed corporate profits (retained earnings) Government transfer and interest payments Personal interest payments 382.7 990.8 688.2 265.2 6,739.4 664.6 1,475.8 343.7 56.5 702.7 130.3 1,366.3 286.2 1.235.7 Personal taxes
Calculate GDP using the Income and Expenditure Approach. (all figures are in billions of dollars): Amount ($) 1,721.6 1,096.3 Item Government purchase of goods and services Exports Receipts of factor income from the rest of the world Depreciation (consumption of fixed capital) Net fixed Investments Corporate income taxes Consumption expenditures Indirect business taxes Imports Payments of factor income to the rest of the world Inventory change Social security contributions Undistributed corporate profits (retained earnings) Government transfer and interest payments Personal interest payments 382.7 990.8 688.2 265.2 6,739.4 664.6 1,475.8 343.7 56.5 702.7 130.3 1,366.3 286.2 1.235.7 Personal taxes
Chapter19: Measuring Economic Performance
Section: Chapter Questions
Problem 3P
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Transcribed Image Text:Calculate GDP using the Income and Expenditure Approach.
(all figures are in billions of dollars):
Amount ($)
1,721.6
1,096.3
Item
Government purchase of goods and services
Exports
Receipts of factor income from the rest of the world
Depreciation (consumption of fixed capital)
Net fixed Investments
382.7
990.8
688.2
Corporate income taxes
Consumption expenditures
Indirect business taxes
265.2
6,739.4
664.6
Imports
Payments of factor income to the rest of the world
Inventory change
Social security contributions
Undistributed corporate profits (retained earnings)
Government transfer and interest payments
Personal interest payments
1,475.8
343.7
56.5
702.7
130.3
1,366.3
286.2
Personal taxes
1.235.7
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