Use the table to answer the questions. Assume firms pay all profits out to resource owners, there is no depreciation, and there areno taxes.2010Consumption spending (C)$350Rent$100Profit$175Investment spending (I)$75Interest$50Government spending (G)$125Net exports (NX)$10Employee compensation$Enter the value of GDP in 2010.Use the factor income approach to calculate employee compensation in 2010.

Answered: Use the table to answer the questions.…

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Tracking The U.s. Economy

Section: Chapter Questions

Problem 3.6P

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Step 1: Introduction

The total financial or market value of all finished merchandise and services made within a country's borders in a very bound period is thought as gross domestic product. It is a comprehensive book of a country's economic health as a result of it's a large live of entire domestic production. for instance, within the us, the govt. publishes Associate in Nursing annualized gross domestic product estimate for every financial quarter additionally because the twelvemonth. as a result of the info during this report is bestowed in actual terms, it's been corrected for worth fluctuations and is therefore inflation-adjusted.

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