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Calculating GDP Using the Income Approach
11. Gross Domestic Product (GDP) and Consumer Price Index (CPI) / Calculating GDP Using the Income Approach / Problem 7
Problem 7

A country reports the following income components: Compensation of employees = \$600 billion, Rents = \$60 billion, Interest = \$40 billion, Proprietors' income = \$80 billion, Corporate profits = \$120 billion, and Taxes on production and imports = \$50 billion. Calculate the total national income.