The following table presents 2015 data from the national-income accounts of the United States. Indicate the various expenditures used to determine GDP under the expenditure approach. Then indicate the various income payments and indirect costs used to determine GDP under the resource cost-income approach. Component Personal Consumption Employee Compensation Rents Gov't Consumption & Investment Imports Depreciation Corporate Profits Interest Income Exports Gross Private Investment Indirect Business Taxes Self-Employment Income Net Income of Foreigners Billions of Dollars Expenditure approach Resource cost-income approach 12,269.1 9,655.3 656.6 Using the expenditure approach, GDP is 3,183.0 2,782.9 2,582.6 2,048.0 525.1 2,325.60 3,021.1 1,302.8 1,388.5 -143.00 Using the resource cost-income approach, GDP is s kkkkk ► ► ► ►
The following table presents 2015 data from the national-income accounts of the United States. Indicate the various expenditures used to determine GDP under the expenditure approach. Then indicate the various income payments and indirect costs used to determine GDP under the resource cost-income approach. Component Personal Consumption Employee Compensation Rents Gov't Consumption & Investment Imports Depreciation Corporate Profits Interest Income Exports Gross Private Investment Indirect Business Taxes Self-Employment Income Net Income of Foreigners Billions of Dollars Expenditure approach Resource cost-income approach 12,269.1 9,655.3 656.6 Using the expenditure approach, GDP is 3,183.0 2,782.9 2,582.6 2,048.0 525.1 2,325.60 3,021.1 1,302.8 1,388.5 -143.00 Using the resource cost-income approach, GDP is s kkkkk ► ► ► ►
Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Taking The Nation's Economic Pulse
Section: Chapter Questions
Problem 15CQ
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Transcribed Image Text:The following table presents 2015 data from the national-income accounts of the United States.
Indicate the various expenditures used to determine GDP under the expenditure approach. Then indicate the various income payments and indirect
costs used to determine GDP under the resource cost-income approach.
Component
Personal Consumption
Employee Compensation
Rents
Gov't Consumption & Investment
Imports
Depreciation
Corporate Profits
Interest Income
Exports
Gross Private Investment
Indirect Business Taxes
Self-Employment Income
Net Income of Foreigners
Billions of Dollars Expenditure approach Resource cost-income approach
12,269.1
9,655.3
656.6
3,183.0
2,782.9
2,582.6
2,048.0
Using the expenditure approach, GDP is
525.1
2,325.60
3,021.1
1,302.8
1,388.5
-143.00
Using the resource cost-income approach, GDP is $
kkkkkkk
P
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