Suppose gross domestic product (GDP) is $5 billion, government transfer payments are $1.5 billion, indirect business taxes and transfers are $0.25 billion, and depreciation is $0.5 billion. Then national income equals Select one: a. $2.75 billion. b. $5 billion. c. $3.25 billion. d. $4.25 billion.

Suppose gross domestic product (GDP) is $5 billion, government transfer payments are $1.5 billion, indirect business taxes and transfers are $0.25 billion, and depreciation is $0.5 billion. Then national income equals Select one: a. $2.75 billion. b. $5 billion. c. $3.25 billion. d. $4.25 billion.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp

Section: Chapter Questions

Problem 7WNG

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Question

Suppose gross domestic product (GDP) is $5
billion, government transfer payments are $1.5
billion, indirect business taxes and transfers are
$0.25 billion, and depreciation is $0.5 billion. Then
national income equals
Select one:
a. $2.75 billion.
b. $5 billion.
c. $3.25 billion.
d. $4.25 billion.

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