Business, 15.02.2021 20:10 sickomode2048

The income approach The following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars. Billions of Dollars
Gross private domestic investment $2,300
Depreciation $1,987
Exports $3,120
Imports $200
Government purchases of goods and services $4,521
Personal consumption expenditures $6,300
Indirect business taxes and misc. items $1,341
Income received from other countries $1,118
Income paid to other countries $1,022
Compensation of employees (wages) $8,174
Corporate profits $1,895
Rental income $365
Net interest $903
Proprietors’ income $1,343
If you calculate GDP by adding together the final demands of consumers, business firms, the government, and foreigners (i. e., using the expenditure approach), GDP for this economy is $ billion. Given this information, the statistical discrepancy between national income and net national product, obtained when GDP is measured using the expenditure approach, is $ billion.

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The income approach The following table shows macroeconomic data for a hypothetical country. All fig...

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