Using the following data for a hypothetical economy, calculate gross domestic product (GDP), net domestic income (NDI),
Question:
Using the following data for a hypothetical economy, calculate gross domestic product (GDP), net domestic income (NDI), and government budget surplus (BS):
Consumption...................................................................................600
Government expenditure on goods and services.......................250
Wages and salaries..........................................................................450
Net exports.........................................................................................50
Capital consumption allowance (depreciation)............................130
Indirect taxes ...................................................................................140
Government transfer payments....................................................100
Corporate and personal income taxes.........................................200
Gross investment...........................................................................200
Step by Step Answer:
a GDP C I G NX GDP 600 200 250 50 GDP 1100 Hence the GDP is 1...View the full answer
