Answer the questions on the basis of the following national income data. All fig

ID: 1214473 • Letter: A

Question

Answer the questions on the basis of the following national income data. All figures are in billions of dollars.

Personal Taxes $23

Net Private Domestic investment 33

Net Exports 6

National Income 278

U.S. Exports 20

Gross Private Domestic Investment 56

Disposable 220

Taxes on Production and Imports 32

Undistributed Corporate Profits 15

Proprietors’ Income 45

Net Foreign Factors Income 0

Statistical Discrepancy 0

Calculate Net National Product. Show your work.

Calculate Gross Domestic Product. Show your work.

Calculate persona income. Show you work.

First i have done part B and then a , So first look at part b, and then a .

NNP= GDP +NFIA-Depreciation

GDP = 333

NFIA = 0

Depriciation = Gross Investment - Net Investment = 56 - 33 = 23

NNP = 333 - 23 = 310

GDP = Total National Income + Sales Taxes + Depreciation + Net Foreign Factor Income.

Total National Income or NI = 278

Sales Tax = 32

Depreciation = Gross Investment - Net Investment = 56 - 33 = 23

Net Foreign Factor Income = 0

GDP = 278 + 32 + 23 + 0 = 333

c. PI=NI-Corporate Income Taxes-Undistributed Corporate Profits-Social Security Contribution+Transfer Payments

NI = 278

Undistributed Corporate Profits = 15

Corporate Income Taxes = 23

Personal Income = 278 - 15 - 23

= 240

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