The following is data provided for the year 2020: Capital consumption allowance $119.5 Wages 855.7 Business interest payments 61.6 Indirect business taxes 135.0 Rental income 26.5 Corporate profits 105.4 Proprietors’ income 93.0 Corporate dividends 32.7 Social insurance contributions 101.0 Personal taxes 170.7 Consumer interest payments 26.0 Interest paid by government and consumers 42.3 Government transfer payments 134.6 Personal consumption expenditures 877.0 Statistical discrepancy 2.6 (a)Find the national income (NI) (b)Find the Net National Product (NNP) (c)Find the Gross National Product (GNP)

The following is data provided for the year 2020: Capital consumption allowance $119.5 Wages 855.7 Business interest payments 61.6 Indirect business taxes 135.0 Rental income 26.5 Corporate profits 105.4 Proprietors’ income 93.0 Corporate dividends 32.7 Social insurance contributions 101.0 Personal taxes 170.7 Consumer interest payments 26.0 Interest paid by government and consumers 42.3 Government transfer payments 134.6 Personal consumption expenditures 877.0 Statistical discrepancy 2.6 (a)Find the national income (NI) (b)Find the Net National Product (NNP) (c)Find the Gross National Product (GNP)

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter16: The Public Sector

Section: Chapter Questions

Problem 9SQP

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Question

The following is data provided for the year 2020:

Capital consumption allowance $119.5

Wages 855.7

Business interest payments 61.6

Indirect business taxes 135.0

Rental income 26.5

Corporate profits 105.4

Proprietors’ income 93.0

Corporate dividends 32.7

Social insurance contributions 101.0

Personal taxes 170.7

Consumer interest payments 26.0

Interest paid by government and consumers 42.3

Government transfer payments 134.6

Personal consumption expenditures 877.0

Statistical discrepancy 2.6

(a)Find the national income (NI)
(b)Find the Net National Product (NNP)
(c)Find the Gross National Product (GNP)

Definition Definition Monetary value of all goods and services produced in an economy during a financial year. National income also refers to the total income earned by the factors of production during a financial year.

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