Compute for GNP using Expenditure, Income, and Valued Added Approach.Personal Consumption ExpendituresRents, Interests, Dividends, Wages1,100,000950,000Government Income35,000Indirect Taxes130,000Exports of goods and non-factor servicesFixed Capital FormationForestry650,000270,00055,000Government Services120,000Imports of goods and non-factor servicesSubsidies640,0005,000Trade280,000Increase in StocksCorporate IncomeDepreciation AllowanceGeneral Govemment Consumption ExpendituresNet Factor Income from AbroadAgriculture7,00060,00017,00080,00020,000550,000Real Estate150,000

Gross National Product refers to the output produced by the firms and household located in the…

Compute for GNP using Expenditure, Income, and Valued Added Approach- Personal Consumption Expenditures Rents, Interests, Dividends, Wages Government Income Indirect Taxes 1,100,000 950,000 35,000 130,000 Exports of goods and non-factor services Fixed Capital Fomation Forestry Government Services 650,000 270,000 55,000 120,000 Imports of goods and non-factor services Subsidies 640,000 5,000 Trade 280,000 Increase in Stocks 7,000 Corporate Income Depreciation Allowance General Govemment Consumption Expenditures Net Factor Income from Abroad Agriculture Real Estate 60,000 17,000 80,000 20,000 550,000 150,000

Compute for GNP using Expenditure, Income, and Valued Added Approach- Personal Consumption Expenditures Rents, Interests, Dividends, Wages Government Income Indirect Taxes 1,100,000 950,000 35,000 130,000 Exports of goods and non-factor services Fixed Capital Fomation Forestry Government Services 650,000 270,000 55,000 120,000 Imports of goods and non-factor services Subsidies 640,000 5,000 Trade 280,000 Increase in Stocks 7,000 Corporate Income Depreciation Allowance General Govemment Consumption Expenditures Net Factor Income from Abroad Agriculture Real Estate 60,000 17,000 80,000 20,000 550,000 150,000

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Tracking The U.s. Economy

Section: Chapter Questions

Problem 1.3P

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