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Consider the following hypothetical data for the U.S. economy in 2024 (all amounts are in trillion dollars):
| Category | Value |
|---|---|
| Consumption | $10.2 |
| Non-income related taxes net of subsidies | $0.8 |
| Depreciation | $1.5 |
| Government spending | $2.9 |
| Imports | $2.7 |
| Gross private domestic investment | $3.1 |
| Exports | $2.8 |
Based on the data above:
Calculate GDP = $_ trillion.
Calculate NDP = $_ trillion.
Calculate NI = $_ trillion.
GDP = Consumption + Gross private domestic investment + Government spending + Exports – Imports = $10.2 + $3.1 + $2.9 + $2.8 – $2.7 = $16.3 trillion
NDP = GDP – Depreciation = $16.3 – $1.5 = $14.8 trillion
NI = NDP – Non-income related taxes net of subsidies = $14.8 – $0.8 = $14.0 trillion
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