The figure shows the flows of expenditure and income in an economy. In 2013, U was $2.0 trillion, V was $0.5 trillion, W was $5.0 trillion, J was $1.5 trillion, and Z was - $1.5 trillion. Calculate total income, net taxes, and GDP.

The figure shows the flows of expenditure and income in an economy. In 2013, U was $2.0 trillion, V was $0.5 trillion, W was $5.0 trillion, J was $1.5 trillion, and Z was - $1.5 trillion. Calculate total income, net taxes, and GDP.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 4SQP

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Question

The figure shows the flows of expenditure and income in an economy.
In 2013, U was $2.0 trillion, V was $0.5 trillion, W was $5.0 trillion, J was $1.5
trillion, and Z was - $1.5 trillion.
Calculate total income, net taxes, and GDP.

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