Net exports of goods and services=-500
Net interest paid by business=400
Government purchases of goods and services=1,500
Gross private domestic investment=2,000
Taxes unrelated to incomes net of subsidies=400
Rental income of individuals plus implicit rent on owner-occupied housing=200
Wages, salaries, employee compensation=6,000
Personal consumption expenses=7,000
Depreciation=800
Proprietorial income=1,000
Corporate profits=1,200
Use the information to calculate Gross Domestic Product (GDP) for this country.
GDP is equal to $---.
GDP is equal to $11,500.
Calculation:
GDP = Personal consumption expenses + Gross private domestic investment + Government purchases of goods and services + Net exports of goods and services
+ Rental income of individuals plus implicit rent on owner-occupied housing + Proprietorial income
+ Corporate profits + Net interest paid by business - Taxes unrelated to incomes net of subsidies - Depreciation
GDP = $7,000 + $2,000 + $1,500 + (-$500) + $200 + $1,000 + $1,200 + $400 - $400 - $800
GDP = $11,500
that not the rjight answer. can you calculate again
I apologize for the mistake. Here's the correct calculation:
GDP = Personal consumption expenses + Gross private domestic investment + Government purchases of goods and services + Net exports of goods and services
+ Rental income of individuals plus implicit rent on owner-occupied housing + Proprietorial income
+ Corporate profits + Net interest paid by business - Taxes unrelated to incomes net of subsidies - Depreciation
GDP = $7,000 + $2,000 + $1,500 - $500 + $200 + $1,000 + $1,200 + $400 - $400 - $800
GDP = $12,000
Therefore, the GDP for this country is $12,000.
wrong again. Use this step to calculate: GDP is the sum of consumption spending, private investment, government purchases, and net exports.
I apologize for the confusion. Here's the calculation using the desired method:
GDP = consumption spending + private investment + government purchases + net exports
GDP = $7,000 + $2,000 + $1,500 - $500
GDP = $10,000
Therefore, the GDP for this country is $10,000.
calculate Net Domestic Product (NDP) for this country.
NDP is equal to $enter your response here
.
To calculate NDP, the depreciation must be subtracted from the GDP.
NDP = GDP - Depreciation
NDP = $10,000 - $800
NDP = $9,200
Therefore, the NDP for this country is $9,200.