ITEMS S MILLIONS Personal Consumption Expenditure 640.00 Gross private Domestic Investment 180.00 Government Expenditure 220.00 Exports of goods and services 175.00 Imports of goods and services 202.00 Subsidies 48.00 Indirect business taxes 322.00 Consumption of fixed capital 115.00 Net property income from Abroad 80.00

ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter9: Aggregate Demand
Section: Chapter Questions
Problem 1.1P
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A. The table below shows the national income of a country in 2012. Use the data to answer the
questions that follow:
ITEMS
$ MILLIONS
Personal Consumption Expenditure
640.00
Gross private Domestic Investment
180.00
Government Expenditure
220.00
Exports of goods and services
175.00
Imports of goods and services
202.00
Subsidies
48.00
Indirect business taxes
322.00
Consumption of fixed capital
115.00
Net property income from Abroad
80.00
i.
Define Gross Domestic Product (GDP
ii.
Calculate the:
a. Gross Domestic Product (GDP)
b. Gross National Product (GNP)
Transcribed Image Text:A. The table below shows the national income of a country in 2012. Use the data to answer the questions that follow: ITEMS $ MILLIONS Personal Consumption Expenditure 640.00 Gross private Domestic Investment 180.00 Government Expenditure 220.00 Exports of goods and services 175.00 Imports of goods and services 202.00 Subsidies 48.00 Indirect business taxes 322.00 Consumption of fixed capital 115.00 Net property income from Abroad 80.00 i. Define Gross Domestic Product (GDP ii. Calculate the: a. Gross Domestic Product (GDP) b. Gross National Product (GNP)
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