If during 2009, the country of Sildavia recorded a GDP of $65 billion, interest payments of $15 billion, imports of $13 billion,

Question

3 years ago

5

profits of $7 billion, exports of $15 billion, and rent of $7 billion, wages during 2009 in Sildavida were:___________.

1 answer:

Maslowich · Answer 1 · 2021-12-19T15:01:25+03:00

Answer:

36 billion

Explanation:

The GDP can be calculated using the income approach in which the output of a country is equal to the total income people receive in that country.

GDP= Compensation of employees + Net interest + Rental income + Corporate profits

From this formula, you can isolate the compensation of employees:

Compensation of employees= GDP-Net interest - Rental income - Corporate profits

Compensation of employees= $65-$15-$7-$7

Compensation of employees= $65-$29

Compensation of employees= $36

The wages during 2009 in Sildavida were: $36 billion.