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What is the gdp by both the expenditure and income methods

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Reference no: EM132473199

Assume the following annual information about a hypothetical country - Redland for 2019 (figures are in billions of dollars).

Transfer payments............................................... $70

Government purchases ....................................... 220

Personal taxes .....................................................160

Corporate income taxes....................................... 35

Indirect business taxes less subsidies................. 50

Undistributed corporate profits ............................ 60

Net income of farm and unincorporated business 120

Wages and salaries ............................................. 500

Personal consumption expenditures ................... 520

Capital consumption allowance (depreciation) .... 90

Exports ................................................................. 350

Corporate profits (before taxes)........................... 140

Interest and investment income........................... 40

Dividends ............................................................. 45

Imports ................................................................ 320

Net investment ..................................................... 80

Net investments from non-residents....................80

What is the GDP by both the expenditure and income methods?

Reference no: EM132473199

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