Chat with AI
Macroeconomics + Economy 2009 Update 18th Edition by Campbell McConnell, Sean Masaki Flynn,Stanley Brue
Edition 18ISBN: 9780077354237Macroeconomics + Economy 2009 Update 18th Edition by Campbell McConnell, Sean Masaki Flynn,Stanley Brue
Edition 18ISBN: 9780077354237 Exercise 13
Below is a list of domestic output and national income figures for a given year. All figures are in billions. The questions that follow ask you to determine the major national income measures by both the expenditure and income methods. The results you obtain with the different methods should be the same.
a. Using the above data, determine GDP by both the expenditure and the income approaches. Then determine NDP.
b. Now determine NI: first, by making the required additions and subtractions from GDP; 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. Adjust PI (from part c) as required to obtain DI.
a. Using the above data, determine GDP by both the expenditure and the income approaches. Then determine NDP.
b. Now determine NI: first, by making the required additions and subtractions from GDP; 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. Adjust PI (from part c) as required to obtain DI.
Explanation
Verified
Verified
a. GDP by expenditure method is calculat...
Macroeconomics + Economy 2009 Update 18th Edition by Campbell McConnell, Sean Masaki Flynn,Stanley Brue
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
