Using the following data($ billions) for a given year and assuming that GDP equals GNP,calculate (a) gross domestic product (b) national income (c) net national income (d) indirect business taxes.
1.consumption spending = $8000
2.interest income = 500
3.rental income = 200
4.investment spending = 2,500
5.profits = 2,000
6.wages salaries = $ 7000
7.depreciation =1550
8.government spending =2000
9.net export spending = -450
If GDP is the same as GNP
A)
B) National income=
Where Tb is indirect business tax
TbTbTbTbTbTbTbTbTTbTbTbTbTbTbTTbTbTbTb
C) Net national product=
Where D is depreciation.
D) Indirect business tax
but
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