Cet Chapte GOAL: To demonstrate an understanding of basic calculations related to GDP INSTRUCTIONS: Complete each...

 

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Cet Chapte GOAL: To demonstrate an understanding of basic calculations related to GDP INSTRUCTIONS: Complete each problem below. Be sure to use the formulas in our text, lecture notes & video to help you. Show work for opportunity for partial credit. 1. Given the table below, identify the correct categories used in the expenditure approach and calculate GDP Category Personal consumption expenditures Imports Transfer payments Dollars ($) 245 4 12 14 Rents 27 Consumption of fixed capital -19 Statistical discrepancy 20 Social Security 13 Interest 33 Proprietor's income 11 Exports 16 Dividends Compensation of employees 223 Taxes on production and imports Undistributed corporate profits 18 21 Personal taxes 26 Corporate profits 56 Government purchases 72 Gross private domestic investment 33 Personal savings 20 Cet Chapte GOAL: To demonstrate an understanding of basic calculations related to GDP INSTRUCTIONS: Complete each problem below. Be sure to use the formulas in our text, lecture notes & video to help you. Show work for opportunity for partial credit. 1. Given the table below, identify the correct categories used in the expenditure approach and calculate GDP Category Personal consumption expenditures Imports Transfer payments Dollars ($) 245 4 12 14 Rents 27 Consumption of fixed capital -19 Statistical discrepancy 20 Social Security 13 Interest 33 Proprietor's income 11 Exports 16 Dividends Compensation of employees 223 Taxes on production and imports Undistributed corporate profits 18 21 Personal taxes 26 Corporate profits 56 Government purchases 72 Gross private domestic investment 33 Personal savings 20