Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions.BillionsCategoryCompensation of employeesU.S. exports of goods and servicesConsumption of fixed capital$205.218.811.8Government purchases59.4Taxes on production and imports14.4Net private domestic investment52.1Transfer paymentsU.S. imports of goods and services13.916.5Personal taxes40.5Net foreign factor incomePersonal consumption expendituresStatistical discrepancy2.2229.10.0Instructions: Round your answers to 1 decimal place.a. GDP = $billionb. NDP = $billionc. NI = $billion Suppose that in 1994 the total output in a single-good economy was 10,000 buckets of chicken. Also suppose that in 1994 each bucketof chicken was priced at $16. Finally, assume that in 2015 the price per bucket of chicken was $20 and that 22,000 buckets wereproduced.Instructions: In parts a-b, enter your answer rounded to 1 decimal place. In part c, enter your answers as a whole number.a. What is the GDP price index for 1994, using 2015 as the base year?b. By what percentage did the price level, as measured by this index, rise between 1994 and 2015?percentc. What were the amounts of real GDP in 1994 and 2015?In 1994, real GDP = $In 2015, real GDP = $

Since you have asked more than two questions without any preference, we are going to answer the…

Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Billions Category Compensation of employees U.S. exports of goods and services Consumption of fixed capital $205.2 18.8 11.8 Government purchases Taxes on production and imports Net private domestic investment Transfer payments 59.4 14.4 52.1 13.9 U.S. imports of goods and services 16.5 Personal taxes 40.5 Net foreign factor income Personal consumption expenditures Statistical discrepancy 2.2 229.1 0.0 Instructions: Round your answers to 1 decimal place. a. GDP = $ billion b. NDP = $ |billion c. NI = $ billion