Question

Use the following to answer questions 6-10: Answer the next question(s) on the basis of the following data. All figures are in billions of dollars.
Personal taxes $40
Social Security Contributions $15
Indirect Business Taxes $20
Corporate Income Taxes $40
Transfer Payments $22
U.S. exports $24
Undistributed Corporate Profits $35
Government Purchases $90
Gross Private Domsetic Investment $75
U.S. Imports $22
Personal Consumption Expenditures $250
Depreciation $25
Net Foreign Factor Income earned in the U.S. $10
Refer to the above data. GDP is:_________
A. $390
B. $417
C. $422
D. $492
Refer to the above data. NDP is:__________
A. $370
B. $402
C. $392
D. $467
Refer to the above data. NI is:__________
A. $362
B. $372
C. $447
D. $402
Refer to the above data. PI is:________
A. $294
B. $314
C. $408
D. $437
Refer to the above data. DI is:__________
A. $284
B. $329
C. $254
D. $402

Answer 1

Answer:

GDP B). $417

NDP C. $392

NI D. $402

PI B. $314

DI A. $284

Explanation:

Gross domestic product is the total monetary value of final goods and services produce within the country.

GDP = 20 + 40 + 24 + 35 + 90 + 75 - 22 + 10 + 123 = 417

NDP = GDP - Consumption of fixed capital

NDP = 417 - 25 = 392

NI = NDP - Statistical discrepancy + net foreign income

DI = NI - Taxes on imports - social security consumption - Corporate income tax - undistributed profits.