Question

Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Value Compensation of employees $196.2; U.S. exports of goods and services 19.8; Consumption of fixed capital 11.8; Government purchases 59.4; Taxes on production and imports 14.4; Net private domestic investment 52.1; Transfer payments 13.9; U.S. imports of goods and services 16.5; Personal taxes 40.5; Net foreign income 2.2; Personal consumption expenditures 219.1; Statistical discrepancy 0.0;

Instructions: Round your answers to one decimal place.

a. GDP = $ billion

b. NDP = $ billion

c. National Income = $ billion