\[\begin{array} { | l | r | } \hline \text { Personal Taxes } & \$ 23 \\ \hline \text { Net Private Domestic Investment } & 33 \\ \hline \text { Net Exports } & 6 \\ \hline \text { National Income } & 278 \\ \hline \text { U.S. Exports } & 20 \\ \hline \text { Gross Private Domestic Investment } & 56 \\ \hline \text { Disposable Income } & 220 \\ \hline \text { Taxes on Production and Imports } & 32 \\ \hline \text { Undistributed Corporate Profits } & 15 \\ \hline \text { Proprietors' Income } & 45 \\ \hline \text { Net Foreign Factor Income } & 0 \\ \hline \text { Statistical Discrepancy } & 0 \\ \hline \end{array}\] Refer to the accompanying national income data. All ?gures are in billions of dollars. The gross domestic product is

A) $328. B) $301. C) $382. D) $333. A) $328. B) $301. C) $382. D) $333. B

\[\begin{array} { | l | c | } \hline \text { Government Purchases } & \$ 15 \\ \hline \text { Consumption } & 90 \\ \hline \text { Gross Investment } & 20 \\ \hline \text { Consumption of Fixed Capital (depreciation) } & 5 \\ \hline \text { Exports } & 8 \\ \hline \text { Imports } & 12 \\ \hline \end{array}\] Refer to the accompanying data (all ?gures in billions of dollars). NDP (net domestic product) is

A) $116. B) $121. C) $125. D) $150. A) $116. B) $121. C) $125. D) $150.

\[\begin{array} { | l | r | } \hline \text { Consumption of Fixed Capital } & \$ 25 \\ \hline \text { Government Purchases } & 315 \\ \hline \text { US imports } & 260 \\ \hline \text { Personal Taxes } & 45 \\ \hline \text { Transfer Payments } & 247 \\ \hline \text { US Exports } & 249 \\ \hline \text { Personal Consumption Expenditures } & 475 \\ \hline \text { Net Foreign Factor Income } & 5 \\ \hline \text { Gross Private Domestic Investment } & 300 \\ \hline \text { Taxes on Production and Imports } & 245 \\ \hline \text { Undistributed Corporate Profits } & 60 \\ \hline \text { Social Security Contributions } & 240 \\ \hline \text { Corporate Income Taxes } & 65 \\ \hline \text { Statistical Discrepancy } & 40 \\ \hline \end{array}\] Refer to the accompanying national income data (in billions of dollars). Disposable income is

A) $611 billion. B) $659 billion. C) $667 billion. D) $686 billion. A) $611 billion. B) $659 billion. C) $667 billion. D) $686 billion.

\[\begin{array} { | r | l | r | } \hline 1 & \text { Consumption of Fixed Capital } & \$ 438 \\ \hline 2 & \text { Taxes on Production and Imports } & 326 \\ \hline 3 & \text { Compensation of Employees } & 2,347 \\ \hline 4 & \text { Rents } & 14 \\ \hline 5 & \text { Interest } & 287 \\ \hline 6 & \text { Proprietors' Income } & 242 \\ \hline 7 & \text { Corporate Profits } & 297 \\ \hline 8 & \text { Personal Consumption Expenditures } & 2,582 \\ \hline 9 & \text { Gross Private Domestic Investment } & 669 \\ \hline 10 & \text { Government Purchases } & 815 \\ \hline 11 & \text { Net Exports } & - 78 \\ \hline 12 & \text { Net Foreign Factor Income } & 46 \\ \hline 13 & \text { Statistical Discrepancy } & 50 \\ \hline \end{array}\] Refer to the accompanying national income data (in billions of dollars). Which items need to be accounted for in going from national income to GDP?

A) 1, 12, and 13 B) 2, 11, and 12 C) 13 only D) 1 and 2 A) 1, 12, and 13 B) 2, 11, and 12 C) 13 only D) 1 and 2

A) the market value of unpaid work in the home. B) the production of services. C) the production of nondurable goods. D) positive changes in inventories. A) the market value of unpaid work in the home. B) the production of services. C) the production of nondurable goods. D) positive changes in inventories.

A) current output at current prices. B) current output at base year prices. C) base year output at current prices. D) base year output at current exchange rates. A) current output at current prices. B) current output at base year prices. C) base year output at current prices. D) base year output at current exchange rates.