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4 February, 08:55

Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category - ValueCompensation of employees - $194.2U. S. exports of goods and services - 17.8Consumption of fixed capital - 11.8Government purchases - 59.4Taxes on production and imports - 14.4Net private domestic investment - 52.1Transfer payments - 13.9U. S. imports of goods and services - 16.5Personal taxes - 40.5Net foreign income - 2.2Personal consumption expenditures - 219.1Statistical discrepancy - 0Instructions: Round your answers to one decimal place.

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Answers (1)
  1. 4 February, 10:32
    0
    a. $343.7 billion

    b. $331.9 billion

    c. $334.1 billion

    Explanation:

    The computation is shown below:

    a. For GDP

    GDP = Personal consumption expenditures + Government purchases + Net private domestic investment + Consumption of fixed capital + net exports

    where,

    Net exports = U. S. exports of goods and services - U. S. imports of goods and services

    = $17.8 - $16.5

    = $1.3 billion

    So, the GDP would be

    = $219.1 + $59.4 + $52.1 + $11.8 + $1.3

    = $343.7 billion

    b. For NDP

    NDP = GDP - Consumption of fixed capital or depreciation

    = $343.7 - $11.8

    = $331.9 billion

    c. For NI

    NI = GDP + Net foreign income

    = $331.9 billion + 2.2 billion

    = $334.1 billion

    All values are in billions
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Home » Business » Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category - ValueCompensation of employees - $194.2U. S. exports of goods and services - 17.8Consumption of fixed capital - 11.
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