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Suppose you are given the following information about some hypothetical economy and its national income accounts. Use this information to answer the questions that follow. (Amounts are in billions of dollars)
Indirect Business Taxes $919.0 Corporate profits $1208.9 Corporate profits taxes $469.4 Retained earnings $330.8 Proprietors' income $1038.4 Rental Income $62.1 Net Interest $1171.1 Exports $1685.7 Imports $2380.4 Income Receipts from rest of world $855.6 Income Payments to rest of world $754.9 Net National Product $12380.8 Government expenditures for Goods and Services $2716.5
Personal current Transfer receipts $1742.3 Social Security Taxes (employee & employer) $981.5 Personal Consumption expenditures $9785.7 Gross Private Domestic Investment $2162.9 Disposable personal income $10257.5 a. Find GDP.
b. Find the percentage Net Exports is of GDP.
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