Macro Sales
Macro Sales
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stuck with economics (macro) hw?
one day barry the barber, Inc. collects $400 for haircut. Over this day,his equipment depreciates in value by $50. Of the remaining $350, Barry sends $30 to the government in sales taxes, takes home $220 in wages, and retains $100 in his business to add new equipment in the future Form the 4220 that Barry takes home, he pays $70 in income taxes. Based on this information, compute Barry's contribution to the following measures of income.
a.GDP
b. Net national product
c. national income
d. personal income
e. disposable personal income
depreciation or cc=50
GDP and National income is 400
NNP = GDP - cc +nfp (as there is no nfp)
NNP=350
personal income = 220
personal disposable income is 220-70 = 150
