Question: solve the question with step by step give you given data solve the question and give answer Below are the domestic output and national income

solve the question with step by step give you given data solve the question and give answer

solve the question with step by step give you given data solve

Below are the domestic output and national income values for a certain year. All values 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. Data . Personal consumption expenditures $245 . Net foreign factor income 4 Transfer payments 12 . Rents 14 Statistical discrepancy 8 of fi xed capital (depreciation) 27 Security contributions 20 Interest 13 income 33 Net exports 11 Dividends 16 Compensation of employees 223 Taxes on production and imports 18 18 Undistributed corporate profits 21 Personal taxes 26 Corporate income taxes 19 Corporate profits 56 Government purchases 72 Net private domestic investment 33 saving 20 Question A). Using the above data, determine GDP by both the expenditures and the income approaches. Then determine NDP. B) Now determine NI in two ways: fifirst, by making the required additions or subtractions from NDP; and second, by adding up the types of income and taxes that make up NI. C). Adjust NI (from part b) as required to obtain PI. D) PI (from part c) as required obtain DI

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