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The following is a list of figures for a given year in billions of dollars. Using this data, compute:
(a) GDP;
(b) NDP;
(c) NI;
(d) PI;
(e) DI;
(f) Net exports. Transfer payments $ 16 Government purchases 80 Personal taxes 38 Corporate income taxes 28 Indirect business taxes 15 Social security contributions 8 Undistributed corporate profits 19 Proprietor’s income 25 Compensation of employees 258 Personal consumption expenditures 322 Consumption of fixed capital 4 Rents 10 U.S. exports 14 Corporate profits 70 Interest 12 Dividends 23 Imports to U.S. 17 Gross private domestic investment 63 Net foreign factor income earned in the U.S. 10
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Assume Springfield's economy moves into a recession and Y falls to $9 and increasing unemployment allows widget makers to decrease wages to $18 per hour.
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