04 Jun Question Use the national income data in the table be
Question
Use the national income data in the table below to compute the following: Interprets the solution
and analysis of Gross Domestic Product (GDP), Net Domestic Product (NDP), and National
Income (NI) using appropriate data to make decisions.
1. GDP.
2. NDP.
3. NI.
National Income Data
National Income Accounting Data
Amount (billions)
Compensation of employees
$288.2
US exports of goods and services
63.4
Consumption of fixed capital
23.6
Government purchases
188.8
Taxes on production and imports
28.8
Net private domestic investment
104.2
Transfer payments
27.8
US imports of goods and services
33.0
Personal taxes
81
Net foreign factor income
4.4
Personal consumption expenditures
438.2
Statistical discrepancy
0
The expenditures approach: GDP = (Personal consumption expenditures) + [ (Net private
domestic investment) + (Consumption of fixed capital, depreciation) (the sum of these two
components measures gross investment = Gross Investment + (Government purchases) + (net
exports) =
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