The table below gives some of the items in the U.S. National Income and Product Accounts in 1995. Suppose the statistical discrepancy equals $0.
Item Amount (trillions of dollars)
Consumption expenditure ...................................... 4.97
Investment ....................................................... 1.14
Government expenditure ...................................... 1.37
Net exports .................................................... - 0.08
Wages .......................................................... 4.20
Interest, rent, and profit ...................................... 1.68
Depreciation ................................................... 0.89
a. Use the expenditure approach to calculate U.S. GDP in 1995.
b. Use the income approach to calculate U.S. net domestic product at factor cost in 1995.
c. Calculate GDP minus net domestic product at factor cost in 1995.
d. Calculate indirect taxes less subsidies in 1995.