Chapter 8, Problem 7P

To determine

(a)

Consider the following hypothetical data from US economy in $2016$ (in trillions of dollars)

Profit	$2.8$
Indirect business taxes	$.8$
Rent	$7$
Interest	$.8$
Wages	$8.2$
Depreciation	$1.3$
Consumption	$12.0$
Exports	$1.5$
Government transfer payments	$2.0$
Personal income taxes and non-pay tax payments	$1.7$
Imports	$1.7$
Corporate taxes and retained earnings	$.5$
Social Security Contributors	$2.0$
Government spending	$3.8$

Calculate Gross Domestic Income

To determine

(b)

Consider the following hypothetical data from US economy in $2016$ (in trillions of dollars)

Profit	$2.8$
Indirect business taxes	$.8$
Rent	$7$
Interest	$.8$
Wages	$8.2$
Depreciation	$1.3$
Consumption	$12.0$
Exports	$1.5$
Government transfer payments	$2.0$
Personal income taxes and non-pay tax payments	$1.7$
Imports	$1.7$
Corporate taxes and retained earnings	$.5$
Social Security Contributors	$2.0$
Government spending	$3.8$

Calculate Gross Private Domestic Investment

To determine

(c)

Consider the following hypothetical data from US economy in $2016$ (in trillions of dollars)

Profit	$2.8$
Indirect business taxes	$.8$
Rent	$7$
Interest	$.8$
Wages	$8.2$
Depreciation	$1.3$
Consumption	$12.0$
Exports	$1.5$
Government transfer payments	$2.0$
Personal income taxes and non-pay tax payments	$1.7$
Imports	$1.7$
Corporate taxes and retained earnings	$.5$
Social Security Contributors	$2.0$
Government spending	$3.8$

Calculate personal income and private disposable income