Expenditures for consumer goods and services Exports Government purchases of goo

Question

Expenditures for consumer goods and services Exports Government purchases of goods and services Social Security taxes Net investment indirect business taxes Imports Gross investment S ,565 $740 SI.465 $510 $225 $520 | $825 $865 $185 $750 $45 $20 Corporate income taxes Personal income taxes Corporate retained earnings Net foreign factor income Government transfer pavments to households Net interest payments to households S690 so Click Save and Submit to save and submit. Click Save All Anisvers to save all answers Save Alr A Search the web and Windows

Explanation / Answer

Solution: 305 billion

Working:

GDP = ($4,565 + $865 + $1,465 + ($740 - $825)) = 6810

Personal income = GDP - Dep + Transfer payments - Taxes = 6810 - 640 + (690+20+0) - ( $520 + $510 + $185 + $45) = 5620

Consumption = 4565 + 750 = 5315

Personal saving = 305 billion

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