(Answered) In a simple economy suppose that all income is either

Economics

In a simple economy, suppose that all income is either compensation of employees or profits. Suppose also that there are no indirect taxes. Calculate gross domestic product from the following set of numbers. Show that the expenditure approach and the income approach add up to the same figure.

Consumption $5,000

Investment 1,000

Depreciation 600

Profits 900

Exports 500

Compensation of employees 5,300

Government purchases 1,000

Direct taxes 800

Saving 1,100

Imports 700

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