Compute the gdp using i income approach and ii expenditure

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Reference no: EM13394867

Assume the following list of national income figures for a given year. All figures are in billions of dollars.

Wages, salaries and supplementary labour income..............................$118

Individual taxes (less subsidies)...............................................................26

Personal consumption expenditures......................................................136

Undistributed Corporate Profits................................................................13

Net Investment...........................................................................................35

Government Purchases of goods and services............................................45

Corporate Profits before taxes.....................................................................39

Net exports....................................................................................................+9

Net income of non-farm unincorporated business ........................................17

Capital Consumption Allowances...................................................................25

Accrued net income of farmers.......................................................................10

Interest and Miscellaneous Investment Income..............................................15

a) Calculate the GDP using (i) the income approach and (ii) the expenditure approach. (Both approaches must give the same answer).

Reference no: EM13394867

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