GDP Macroeconomics?

Question

(The data is in billions of dollars)

Depreciation = $7

Government purchases = $51

U.S. exports = $15

Personal consumption expenditures = $217

Net foreign factor income earned in the U.S. = $0

Transfer payments = $19

Social security contributions = $4

Personal taxes = $39

Net private domestic investments = $32

Indirect business taxes = $8

Corporate income taxes = $11

Dividends = $15

Undistributed corporate profits = 10

U.S. imports = $17

1. what is the gross private domestic investment.

2. what is the GDP.

3. what are the corporate profits?

4. what is the NDP and the National income.

5. What will personal income equal to?

6. What are the disposable income and net exports?

Can someone help me with this problem. Im having trouble with GDP and everthing that is asked above. I would like for you to show me work so that i can see what you did to get that answer. also it would be nice if you explained it in words.

Answer 1

Ahh, I hated ECON!  The only things that I remember about Gross Domestic Product Are…

Real GDP = Nominal GDP over Price Index Multiply 100

GDP = C + I + Xn + G

C = expectations, debt of consumers, taxes, change in wealth

I = Imports, expectations, taxes, interest rate

Xn = Exports

G = Government Spending

          

I know that this isn’t the answer to your questions, but I hope that it helps in some way.  Although, these are probably things you may already know.

Answer 2

1: I=7+32=$39

2: Y=C+I+G+Ex-Im=217+39+51+15-17=$305

3: Corporate profits = GDP - Personal Income(- interest, -dividends, - transfer payments) - depreciation - indirect taxes - Social Security taxes + government subsidies + net income from rest of world =

=305 - (284 - 15 - 19) - 7 - 8  +0 +0= $40

(though may be goofed something here..)

4: NDP=GDP-Depreciation =305-7= $298

NI=GDP +NetForeignIncome - IndirBusTax - Depreciation =305+0-8-7= $290

5: PI = NI-CorpTaxes-RetainEarn -SocSecurity+Transfer+ NetIneterst=

= 290 -11 -10 - 4 + 19 +0 = $284

6: DI = PI - Personal Taxes = 284 - 39 = $245

Net exports = Exports - Imports = 15-17 = $ -2