Question: Use the data below to calculate GDP using the income approach. (I intentionally left out some of the expenditure categories so that you must use
Use the data below to calculate GDP using the income approach. (I intentionally left out some of the expenditure categories so that you must use the incomeapproach). Then calculateNDP, NI,PI, and DI.(All figures are in billions ofdollars):
Gross Private Domestic Investment
844.8
Proprietor's Income
416.4
Dividends
174.5
Wages and Salaries
3766.4
Undistributed Corporate Profits
71.3
Corporate Income Taxes
137.3
Imports
639.2
Government Expenditures
1250.1
Rents
50.1
Transfer Payments
659.1
Exports
595.8
Indirect Business Taxes
445.9
Consumption of fixed capital(depreciation)
720.2
Net foreign factor income earned in the U.S.
33.3
Social Security Contributions
454.2
Interest
436.4
Personal Taxes
605.3
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