Use the table to find GDP, NDP, NI. (All amounts in trillions of dollars.) Consumption 11.0...

Use the table to find GDP, NDP, NI. (All amounts in trillions of dollars.)

Consumption	11.0
Indirect business taxes	.8
Depreciation	1.3
Government spending	2.8
Imports	2.7
Gross private domestic investment	3.0
Exports	2.5

GDP = Blank 1, NDP = Blank 2, NI = Blank 3

Write the number only, one decimal place; e.g. 10.0

Expert Solution

The GDP can be defined the market value of all goods and services which are produced in the domestic territory of the country in the current financial years. GDP by Expenditure method

GDP=C+I+G+(X-M)

=11+3+2.8+2.5-2.7

=16.6

NDP at fc= GDP at mp – depreciation- indirect business tax

=16.6-1.3-0.8

=14.5

National Income= NDP at fc+ net factor income from abroad

=14.5+0

=14.5

Rahul Sunny answered 1 year ago

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