Question

The list below provides some national income figures for country AAA.  All figures are in million dollars:...

The list below provides some national income figures for country AAA.  All figures are in million dollars:

Government purchases of goods and services                                        $1,000

Indirect taxes                                                                                        175

Personal income taxes                                                                          200

Wages and employee compensation (including personal income taxes)    5,000

subsidies                                                                                              30

Consumption expenditure                                                                      3900

Exports                                                                                                 350

Capital consumption allowance (depreciation)                                         150

Imports                                                                                                 390

Investment                                                                                            950

Net interest income                                                                               200

Business profits before taxes                                                                 465

Personal saving                                                                                    1,100                            

  1. Calculate the value of GDP using the expenditure approach
  2. Calculate the value of GDP using the income approach
  3. Calculate the value of net domestic income at factor cost.
  4. Suppose that an industry has a total output of 63.8 billion and purchases 49 billion of intermediate inputs. How much is the value added?
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