Table 51 National Income Accounts (Dollar Figures Are in Billions)

question 95

Multiple Choice

Table 5.1 National Income Accounts (dollar figures are in billions)
$\begin{array}{|l|r|}\hline \text { Expenditures for consumer goods and services } & \$ 4,565 \\\hline \text { Exports } & \$ 740 \\\hline \text { Government purchases of goods and services } & \$ 1,465 \\\hline \text { Social Security taxes } & \$ 510 \\\hline\text { Net investment } & \$ 225 \\\hline\text { Indirect business taxes } & \$ 520 \\\hline\text { Imports } & \$ 825 \\\hline \text { Gross investment } & \$ 865 \\\hline \text { Corporate income taxes } & \$ 185 \\\hline \text { Personal incometaxes } & \$ 750 \\\hline \text { Corporateretained earnings } & \$ 45 \\\hline\text { Net foreign factor income } & \$ 20 \\\hline \text { Govermment transfer payments to households } & \$ 690 \\\hline \text { Net interest payments to households } & \$ 0 \\\hline\end{array}$


On the basis of Table 5.1,gross domestic product is

• A)$6,340 billion.
• B)$6,170 billion.
• C)$6,995 billion.
• D)$7,080 billion.

---

Definitions:

Lottery

A form of gambling that involves the drawing of numbers at random for a prize, often conducted by states or organizations.

Interest Rate

The percentage of a sum of money charged for its use, typically expressed as an annual percentage rate.

Income

The financial gain or money received by an individual or entity, typically through wages, investments, or business operations.

Normal Goods

Goods for which demand increases as the income of the consumer increases.