Find GDP using income approach and expenditure apporach and NDP?
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Personal Consumption Approach $245 Net Foreign Factor Income 4 Transfer Payments 12 Rents 14 Statistical Discrepancy 8 Consumption of Fixed Capital (depreciation) 27 Social Security contributions 20 Interest 13 Propietors Income 33 Net Exports 11 Dividends 16 Compensation of Employees 223 Taxes on Products and Imports 18 Undistributed Corporate Profts 21 Personal Taxes 26 Corporate income taxes 19 Corporate profits 56 Govn’t purchases 72 Net private domestic investment 33 Personal Saving 20 I for the life of me cannot get GDP to be the same price for both methods. I have been working on this for quite a while and I would just like to see if I could get some help.
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Answer:
I'm working on the same problem. Please, smb help. All I know is that the GDP is 388, but I can't figure out how to get this number!!! I think I got the Expenditure method correct: -Personal Consumption Approach $245 -Personal Taxes 26 -Corporate income taxes 19 -Govn’t purchases 72 -Net private domestic investment 33 -Net Exports 11 minus Taxes on Products and Imports 18= -7 =388
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