Question -- Given the following:
Consumption of fixed capital (depreciation) $1,257
Rents $120
Indirect business taxes less subsidies $682
Social security contributions $800
Corporate income taxes $500
Undistributed Corporate Profits-retained earnings $274
Transfer payments $2,000
Personal income taxes $1,500
Compensation of employees (wages) $6,650
Net interest $571
Profits-(Corporate and Proprietors Income) $1,668
Personal Consumption expenditures $7,000
Gross private domestic investment $1,855
Government purchases $1,843
Net Exports (X-M) $300
Statistical discrepancy $50
a) What is GDP (Expenditure Approach)?
b) What is GDP (Income Approach)?
c) What is Net Domestic Income at factor prices?
d) What is Net Domestic Income at market prices?