Using the following national income accounting data, compute GDP, NDP, and NI. All figures are in billions. Round your answers to one decimal place.  category value compensation of employees $ 196.2 U. S. exports of goods and services  19.8 Consumption of fixed capital  11.8 government purchases 59.4 taxes on production and imports 14.4 net private domestic investment  52.1 transfer payments  13.9 U. S. imports of goods and services  16.5 personal taxes  Net foreign factor income Personal consumption expenditures Statistical discrepancy 40.5 2.2 219.1 0

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter19: Measuring Economic Performance
Section: Chapter Questions
Problem 6P
icon
Related questions
Question

Using the following national income accounting data, compute GDP, NDP, and NI. All figures are in billions. Round your answers to one decimal place. 

category value
compensation of employees $ 196.2
U. S. exports of goods and services  19.8
Consumption of fixed capital  11.8
government purchases 59.4
taxes on production and imports 14.4
net private domestic investment  52.1
transfer payments  13.9
U. S. imports of goods and services  16.5

personal taxes 

Net foreign factor income

Personal consumption expenditures

Statistical discrepancy

40.5

2.2

219.1

0

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 4 images

Blurred answer
Knowledge Booster
Gross Domestic Product
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Exploring Economics
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Survey of Economics (MindTap Course List)
Survey of Economics (MindTap Course List)
Economics
ISBN:
9781305260948
Author:
Irvin B. Tucker
Publisher:
Cengage Learning
MACROECONOMICS FOR TODAY
MACROECONOMICS FOR TODAY
Economics
ISBN:
9781337613057
Author:
Tucker
Publisher:
CENGAGE L
Economics For Today
Economics For Today
Economics
ISBN:
9781337613040
Author:
Tucker
Publisher:
Cengage Learning
Macroeconomics: Principles and Policy (MindTap Co…
Macroeconomics: Principles and Policy (MindTap Co…
Economics
ISBN:
9781305280601
Author:
William J. Baumol, Alan S. Blinder
Publisher:
Cengage Learning
Survey Of Economics
Survey Of Economics
Economics
ISBN:
9781337111522
Author:
Tucker, Irvin B.
Publisher:
Cengage,