In: Economics
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
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