Show all the necessary steps that lead to your answer. 1. ​Consumption​ $6000 (in billion) Gross Investment​ 1500 Indirect business taxes​ 300 Retained earning​ 244 Corporate taxes​ 200 Social securities taxes​ 900 Government purchases​ 1500 Export ​ 500 Transfer payments​ 1000 Net interest​ 500 Net foreign factor income​ 4 Depreciation ​ 800 Capital consumption allowance​ Import​ 100 Personal income tax​ 300 a. Calculate GDP from the above figures b. Calculate national income from the above figures c. Calculate personal income from the above figures d. Calculate disposable income from the above figures

Survey of Economics (MindTap Course List)
9th Edition
ISBN:9781305260948
Author:Irvin B. Tucker
Publisher:Irvin B. Tucker
Chapter11: Gross Domestic Product
Section: Chapter Questions
Problem 13SQ
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Show all the necessary steps that lead to your answer.

1. ​Consumption​ $6000 (in billion)

Gross Investment​ 1500

Indirect business taxes​ 300

Retained earning​ 244

Corporate taxes​ 200

Social securities taxes​ 900

Government purchases​ 1500

Export ​ 500

Transfer payments​ 1000

Net interest​ 500

Net foreign factor income​ 4

Depreciation ​ 800

Capital consumption allowance​ Import​ 100

Personal income tax​ 300

a. Calculate GDP from the above figures

b. Calculate national income from the above figures

c. Calculate personal income from the above figures

d. Calculate disposable income from the above figures

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