In a simple economy, calculate gross domestic product using the following figures. (Not all variables need to be used, an extra variable may be given.) a. Calculate by spending approach. b. Calculate with income approach. Consumption 9500 Investment 3000 Wear 1750 Profits 2400 Exports 850 Payments to employees 11500 Government purchases 3200 Direct Taxes 1200 Savings 1600 Imports 900
In a simple economy, calculate gross domestic product using the following figures. (Not all variables need to be used, an extra variable may be given.) a. Calculate by spending approach. b. Calculate with income approach. Consumption 9500 Investment 3000 Wear 1750 Profits 2400 Exports 850 Payments to employees 11500 Government purchases 3200 Direct Taxes 1200 Savings 1600 Imports 900
Chapter6: Tracking The U.s. Economy
Section: Chapter Questions
Problem 1.1P
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In a simple economy, calculate gross domestic product using the following figures. (Not all variables need to be used, an extra variable may be given.)
a. Calculate by spending approach.
b. Calculate with income approach.
Consumption 9500
Investment 3000
Wear 1750
Profits 2400
Exports 850
Payments to employees 11500
Government purchases 3200
Direct Taxes 1200
Savings 1600
Imports 900
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