Using the following national income accounting data, compute (a) GDP, (b) NDP, and () NI. All figures are in billions. Category Value Compensation of employees $226.2 U.S. exports of goods and services Consumption of fixed capital 19.8 11.8 Government purchases 59.4 Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services 14.4 52.1 13.9 16.5 Personal taxes 40.5 Net foreign factor income Personal consumption expenditures 2.2 249.1 Statistical discrepancy

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter19: Measuring Economic Performance
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Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions.
Category
Value
Compensation of employees
$226.2
U.S. exports of goods and services
Consumption of fixed capital
Government purchases
Taxes on production and imports
Net private domestic investment
Transfer payments
U.S. imports of goods and services
19.8
11.8
59.4
14.4
52.1
13.9
16.5
Personal taxes
40.5
Net foreign factor income
Personal consumption expenditures
Statistical discrepancy
2.2
249.1
Transcribed Image Text:Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Value Compensation of employees $226.2 U.S. exports of goods and services Consumption of fixed capital Government purchases Taxes on production and imports Net private domestic investment Transfer payments U.S. imports of goods and services 19.8 11.8 59.4 14.4 52.1 13.9 16.5 Personal taxes 40.5 Net foreign factor income Personal consumption expenditures Statistical discrepancy 2.2 249.1
Instructions: Round your answers to 1 decimal place.
a. GDP =
billion
b. NDP =
billion
c. NI =
billion.
Transcribed Image Text:Instructions: Round your answers to 1 decimal place. a. GDP = billion b. NDP = billion c. NI = billion.
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