Question: Problem 05-06 (Algo) Refer to the data for 2019 below to answer the following questions: The Equivalence of Expenditure and Income (in Billions of

Problem 05-06 (Algo) Refer to the data for 2019 below to answer the following questions: The Equivalence of Expenditure and Income (in Billions of Dollars) Expenditure Income. C: Consumer goods and services $14,561 Wages and salaries $11,434 Corporate profits 2,075 I: Investment in plants, equipment, and 3,744 Proprietors' income 1,658 inventory G: Government goods and services 3,754 Rents 778 Interest 645 X: Exports 2,504 Taxes on output and imports 1,494 Depreciation 3,463 M: Imports (3,136) Statistical discrepancy (120) GDP: Total value of output $21,427 Total value of income $21,427

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