Question

Data $Billions Government purchases of goods 1,000 Payments of factor income to the rest of the...

Data

$Billions

Government purchases of goods

1,000

Payments of factor income to the rest of the world

60

Imports

250

Change in business inventories

40

Durable goods

250

Nondurable goods

650

Exports

150

Residential investment

150

Local government purchases

350

Depreciation

60

Receipts of factor income to the rest of the world

80

Indirect taxes

70

Subsidies

30

Determine: By showing calculation

i)             The value of NDP

ii)               The value of GNP

iii)             The value of NNP

iv)           The value of National Income              

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Answer #1

National income is $2220 Billion's.

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