Solution-Income approach and expenditure approach

Income approach and expenditure approach

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Reference no: EM131312594

Use the following information to answer the question below.

Consumer Expenditures	$1,732.6
Government purchases	530.3
Depreciation	303
Government transfers	312.6
Indirect business tax	230.3
Interest and dividend income	324.9
Investment	437.0
Net Exports	32.1
Other income not received	200.9
Personal taxes and non-tax payments	340.5
Private taxes transfer	121.1
Social Insurance taxes	216.5
Net income from American resources abroad	5.7
Corporate profits	177.2

What is GDP? Show your work by using the income approach and expenditure approach. Are the two sides equivalent? If yes, why? If no, why?

Reference no: EM131312594

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Income approach and expenditure approach

Reference no: EM131312594

Reference no: EM131312594

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