In a simple economy, suppose that all income is either compensation of employees or profits. Suppose...
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In a simple economy, suppose that all income is either compensation of employees or profits. Suppose also that there are no indirect taxes. All data are in billions of dollars. Category Value Consumption $9,500.00 Gross investment 2,800.00 1,521.00 Depreciation Profits 1,520.50 Exports Compensation of employees Government purchases 950.00 12,164.00 3,000.00 Direct taxes 1,250.00 Saving Imports 2,934.00 1,045.00 Using the expenditure approach, GDP is $ billion. (Round your response to two decimal places.) Using the income approach, GDP is $ billion. (Round your response to two decimal places.) In a simple economy, suppose that all income is either compensation of employees or profits. Suppose also that there are no indirect taxes. All data are in billions of dollars. Category Value Consumption $9,500.00 Gross investment 2,800.00 1,521.00 Depreciation Profits 1,520.50 Exports Compensation of employees Government purchases 950.00 12,164.00 3,000.00 Direct taxes 1,250.00 Saving Imports 2,934.00 1,045.00 Using the expenditure approach, GDP is $ billion. (Round your response to two decimal places.) Using the income approach, GDP is $ billion. (Round your response to two decimal places.)
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Expenditure approach Consumption Gross Investment Government purchases Exports Imports 9... View the full answer
Related Book For
Principles of Macroeconomics
ISBN: 978-0134078809
12th edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
Posted Date:
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