Using the incomes approach, calculate GDP at basic prices based on the numbersfrom this table:1 Wages and salaries234Compensation of employeesNet operating surplus: CorporationsGross mixed income5 Taxes less subsidies on productionNet mixed income7 Taxes less subsidies on products and imports86769101112Consumption of fixed capital: Unincorporated businessesConsumption of fixed capital: General government and NPISHGross operating surplusEmployers' social contributionsConsumption of fixed capital: Corporations$3545$3600$3680$3725A value greater than $372518002000550600455708030501000200400

GDP stands for Gross Domestic Product. It is a commonly used economic indicator that measures the…

Using the incomes approach, calculate GDP at basic prices based on the numbers from this table: 1 Wages and salaries 2 3 4 5 6 7 8 9 10 11 12 Compensation of employees Net operating surplus: Corporations Gross mixed income Taxes less subsidies on production Net mixed income Taxes less subsidies on products and imports Consumption of fixed capital : Unincorporated businesses Consumption of fixed capital : General government and NPISH Gross operating surplus Employers' social contributions Consumption of fixed capital: Corporations $3545 $3600 $3680 $3725 A value greater than $3725 1800 2000 550 600 45 570 80 30 50 1000 200 400

Using the incomes approach, calculate GDP at basic prices based on the numbers from this table: 1 Wages and salaries 2 3 4 5 6 7 8 9 10 11 12 Compensation of employees Net operating surplus: Corporations Gross mixed income Taxes less subsidies on production Net mixed income Taxes less subsidies on products and imports Consumption of fixed capital : Unincorporated businesses Consumption of fixed capital : General government and NPISH Gross operating surplus Employers' social contributions Consumption of fixed capital: Corporations $3545 $3600 $3680 $3725 A value greater than $3725 1800 2000 550 600 45 570 80 30 50 1000 200 400

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Production And Growth

Section: Chapter Questions

Problem 5CQQ

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