Question

10. If during 2009, the country of Sildavia recorded a GDP of $65 billion, interest payments of $15 billion, imports of $13 billion, profits of $7 billion, exports of $15 billion, and rent of $7 billion, wages during 2009 in Sildavida were

Answer 1

Answer:

$36 Billion

Explanation:

Given:

GDP = $65 billion

Interest payments = $15 billion

Imports = $13 billion

Profits = $7 billion

Exports = $15 billion

Rent = $7 billion

Wages = ?

Computation of Wages:

GDP from Income Method:

GDP = Interest payments + Wages + Rent + Profits

$65 billion = $15 billion + Wages + $7 billion + $7 billion

$65 billion = Wages + $29 billion

$65 billion - $29 billion = Wages

Wages = $36 Billion