GDP TableTransfer paymentsGovernment purchases32160Personal taxes76Corporate Income taxesTaxes on production and imports5630Social secunity contributions16Undistributed corporate profitsProprietors income3850Compensation of employeesPersonal consumption expendituresConsumption of fived capital516644Rents66Exports28Corporate profits140nterest64Dividends46ImportsGross private domestic investmentNet foreign factor income eamedStatistical discrepancy341262070Refer to the above data. PI is:Oa. $702.Ob. Sy28.Oe S758.od. Sy26.

In income approach: Total national income = It is the sum of rent, profit and salary.

GDP Table Transfer payments 32 Government purchases 160 Personal taxes 76 Corporate Income taxes Taxes on production and imports 56 30 Social secunty contributions 16 Unidistributed corporate profits 38 Proprietors income 50 Compensation of employees Personal consumption expenditures 516 644 Consumption of ficed capital Rents 66 Exports 28 Corporate profits 140 Interest 64 Dividends 46 Imports 34 Gross prvate domestic investment Net foreign factor income eamed Statistical discrepancy 126 20 70 Refer to the above data. PI is: Ob Sy28. Oe S758. od S26

GDP Table Transfer payments 32 Government purchases 160 Personal taxes 76 Corporate Income taxes Taxes on production and imports 56 30 Social secunty contributions 16 Unidistributed corporate profits 38 Proprietors income 50 Compensation of employees Personal consumption expenditures 516 644 Consumption of ficed capital Rents 66 Exports 28 Corporate profits 140 Interest 64 Dividends 46 Imports 34 Gross prvate domestic investment Net foreign factor income eamed Statistical discrepancy 126 20 70 Refer to the above data. PI is: Ob Sy28. Oe S758. od S26

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 47CTQ: Agricultural price supports result in governments holding large inventories of agricultural...

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Agricultural price supports result in governments holding large inventories of agricultural products. Why do you think the government cannot simply give the products away to poor people?
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