Question

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:

The computation is shown below:

For this question, we use the income approach for calculation the wages i.e shown below:

GDP = Interest payments + profits + rent + wages

$65 billion = $15 billion + $7 billion + $7 billion + wages

$65 million = $29 billion + wages

So, the wages would be

= $65 billion - $29 billion

= $36 billion