One day, Chinedu the Barber, Inc., collects D400 for haircuts. Over this day, his equipment depreciates in value by D50. Of the remaining D350, Chinedu sends D30 to the government in sales taxes, takes home D220 in wages, and retains D100 in his business to add new equipment in the future. From the D220 that Chinedu takes home, he pays D70 in income taxes. Based on this information, compute Chinedu’s contribution to the following measures of income. gross domestic product net national product national income personal income disposable personal income

Question
  1. One day, Chinedu the Barber, Inc., collects D400 for haircuts. Over this day, his equipment depreciates in value by D50. Of the remaining D350, Chinedu sends D30 to the government in sales taxes, takes home D220 in wages, and retains D100 in his business to add new equipment in the future. From the D220 that Chinedu takes home, he pays D70 in income taxes. Based on this information, compute Chinedu’s contribution to the following measures of income.
  2. gross domestic product
  3. net national product
  4. national income
  5. personal income
  6. disposable personal income

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