Use the following information to answer the question below.
|
Consumer Expenditures
|
$1,732.6
|
|
Government purchases
|
530.3
|
|
Depreciation
|
303
|
|
Government transfers
|
312.6
|
|
Indirect business tax
|
230.3
|
|
Interest and dividend income
|
324.9
|
|
Investment
|
437.0
|
|
Net Exports
|
32.1
|
|
Other income not received
|
200.9
|
|
Personal taxes and non-tax payments
|
340.5
|
|
Private taxes transfer
|
121.1
|
|
Social Insurance taxes
|
216.5
|
|
Net income from American resources abroad
|
5.7
|
|
Corporate profits
|
177.2
|
What is GDP? Show your work by using the income approach and expenditure approach. Are the two sides equivalent? If yes, why? If no, why?