Question 3. GDP by expenditure and by income method (a) You have the following data from the national accounts: the private consumption is 8, the public spending 4, the sales tax is 2, the investment exceeded the depreciation threefold, 9 to 3, the wage income was 12. However, $1 of the national income came in net factor income from abroad. Imports exceeded exports by $2. Find the capital income in the economy.
Question 3. GDP by expenditure and by income method (a) You have the following data from the national accounts: the private consumption is 8, the public spending 4, the sales tax is 2, the investment exceeded the depreciation threefold, 9 to 3, the wage income was 12. However, $1 of the national income came in net factor income from abroad. Imports exceeded exports by $2. Find the capital income in the economy.
Chapter6: Tracking The U.s. Economy
Section: Chapter Questions
Problem 1.2P
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GDP Calculation through expenditure method : GDP = C + I + G + NX
GDP calculation through income method : GDP= Wages + Net Factor income from abroad
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