Question: Can I get the answer please 20 Below is a list of domestic output and national income figures for a certain year. All figures are
Can I get the answer please


20 Below is a list of domestic output and national income figures for a certain year. All figures are in billions. The questions that follow ask you to determine the major national income measures by both the expenditures and the income approaches. The results you obtain with the different methods should be the same. 0.65 points Category Value Category Value Personal consumption expenditures $285 Net exports 11 Net foreign factor income 4 Dividends 16 eBook Transfer payments 12 Compensation of employees 263 Rents 14 Taxes on production and imports 18 Statistical discrepancy 8 Undistributed corporate profits 21 References Consumption of fixed capital (depreciation) 27 Personal taxes 26 Social Security contributions 20 Corporate income taxes 19 Interest 13 Corporate profits 56 Proprietors' income 43 Government purchases 82 Personal saving 30 Net private domestic investment 33 Instructions: Enter your answers as whole numbers. a. Using the above data, determine GDP by both the expenditures and the income approaches. Then determine NDP. GDP using the expenditures approach billion. GDP using the income approach = billion. NDP = billion . Mc Education20 GDP using the income approach = billion . NDP = billion. 0.65 points eBook b. Now determine NI in two ways: first, by making the required additions or subtractions from NDP (method 1); and second, by adding up the types of income and taxes that make up NI (method 2). Method 1 = billion . References Method 2 = billion . c. Adjust NI (from part b) as required to obtain PI. PI = billion . d. Adjust PI (from part c) as required to obtain DI. DI = billion . MIC Education
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