DQuestion 19 Table 23-1 The table below contains data for Chereaux for the year

Question

DQuestion 19 Table 23-1 The table below contains data for Chereaux for the year 2015 DP ncome eamed by citizens abroad ncome foreigners ean here Losses from depreciation ndirect business taxes Statistical discrepancy Retained earnings Corporate income taxes Social insurance contributions 12 30 terest paid to households by govenment ransfer payments to households from ersonal taxes government Nontax payments to government Refer to Table 23-1. Personal income for Chereaux in 2015 is o $178. $201 $259, $196. O s D Question 20

Explanation / Answer

Ans: $201

Explanation:

GNP = GDP + Income earned by citizens abroad - income foreigners earn here = 200 + 9 - 5 = 204

NNP = GNP - depreciation = 204 - 6 = 198

National Income (NI) = NNP - Indirect business taxes + business subsidies = 198 - 10 + 0 = 188

Personal Income (PI) = NI - retained earnings - corporate income taxes - social insurance contributions + interest paid to households by government + transfer payments to households from government

So, PI = 188 - 8 - 12 - 30 + 8 + 55 = 201

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