Economics question! HELP ME!! ?

Question

Based on the data below, what is:

1. GNP

2. Net National Product

3. Personal Income

4. Disposable Personal Income

Type of product or Income Trillion

Gross Domestic Product 12.5

Income Receipts from rest of the world .5

Depreciation of capital stock 1.6

Corporate Profits, taxes on production,

contributions for social insurance, net interest,

business transfers, surplus of govt. enterprises 3.6

Personal Taxes 1.2

Income payments to the rest of the world .4

Personal income receipts on assets and personal

transfer payments 3.0

Answer 1

1

GNP=GDP+NFI = 12.5 + (0.5-0.4) = 12.5+0.1 = 12.6

NFI - net factor income.

2.

NNP = GNP-DP = 12.6 - 1.6 = 11.0

DP - depreciation

3.

PI = NNP - IT + TP = 11.0 - 3.6 + 3.0 = 10.4

IT - indirect taxes

TP - transfer payments

4.

DI = PI - PT = 10.4 - 1.2 = 9.2

PT - personal taxes