The table below contains data for the country of Wrexington for the year 2006 GD

Question

The table below contains data for the country of Wrexington for the year 2006

GDP $110

income earned by citizens abroad $5

income foreigners earn here $15

Loses from depreciation $4

Indirect business taxes $6

Business Subsidies $2

Statistical discrepancy $0

Retained earnings $5

Corporate income taxes $6

Social insurance contributions $10

Interest paid to households from government $5

Transfer payments to households from government $15

Personal taxes $30

Nontax payments to government $5

a) the market value of all final goods and services produced withing Wrexington in 2006 is what?

B) Gross national product for Wrexington in 2006 is what?

c) Net national product for Wrexington in 2006 is what?

d)National income for Wrexington in 2006 is what?

e)perosnal income for wrexington in 2006 is what?

F) disposable personal income for Wrexington in 2006 is?

Explanation / Answer

the market value of all final goods and services produced withing Wrexington in 2006 = 15+6+2+5+6+10+5+15+30+5 =$99 b) GNP = GDP -income foreigners earn here +income earned by citizens abroad = 110-15+5 =$100 c)Net national product for Wrexington in 2006 = GNP -depreciation = 100-4 =$96

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