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Economics

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Compensation of employees $194.2
US exports of goods and services 17.8
Consumption of fixed capital (depreciation) 11.8
Government purchases 59.4
Taxes on production and imports 14.4
Gross private domestic investment 63.9
Transfer payments 13.9
US imports of goods and services 16.5
Personal taxes 40.5
Net foreign factor income 2.2
Personal consumption expenditures 219.1
Statistical discrepancy 0

Using the table above, calculate Gross Domestic Product using the expenditures approach.

GDP =

  • Economics -

    GDP=C+Ig+G+Xn

    =219.1+63.9+59.4+(17.8-16.5)

    = $ 343.7 (billions)

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