Complete the assignment (see attachment). 1. Calculate the GDP by both the expenditure and income approach. 2.You may use either approach you choose for the other calculations. Please refer to your

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Complete the assignment (see attachment).

1. Calculate the GDP by both the expenditure and income approach.

2.You may use either approach you choose for the other calculations.  Please refer to your text for assistance.

You will send me your answers typed and well organized.  Please make sure you show all of your work…in other words, show me how you reached your answer.

HINT:  The GDP for both approaches should be equal.  also, note…you may not need all of the data listed ..

Complete the assignment (see attachment). 1. Calculate the GDP by both the expenditure and income approach. 2.You may use either approach you choose for the other calculations. Please refer to your
GDP EXERCISE Using Table 5.5 and 5.6 in your book as a guide, use the following information to calculate: (hint…there may be values listed that you do not need to use) GDP, using both the income and expenditure approach (Table 5.5) NDP NI PI DI Personal consumption expenditure $240 Net foreign factor income 4 Transfer payments 12 Rent 18 Depreciation 27 Social security contributions 20 Interest for capital 13 Proprietor’s Income 33 Net Exports 11 Dividends (capital income) 16 Compensation of employees 223 Indirect business taxes OR (taxes on output & imports) 18 Undistributed corp profits (retained earnings) 21 Personal taxes 26 Corporate income taxes 19 Corporate profits 56 Government purchases 72 Gross private domestic investment 60 Statistical discrepancy 5 Interest and Misc payments 10

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