CALCULATING GDP

EXPENDITURE APPROACH (GDP)

= personal consumption expenditures + gross private domestic investment + government spending + net exports (exports - imports)

INCOME APPROACH

= Labor income + Rents + Interest + Profits + Proprietors income + Statistical adjustments

BUDGET SURPLUS

= Gov purchases on goods and services + Gov payments - Gov tax and fees

If number is positive its a Budget surplus 

If number is negative its a Budget deficit 

TRADE SURPLUS

= Exports - Imports

If number is positive its a Trade surplus 

If number is negative its a Trade deficit 

NATIONAL INCOME

= compensation of employees + rents + interest + corporate profits + proprietors income

or

=GDP  - Indirect business taxes - Depreciation - Net forces factor income 

DISPOSABLE INCOME

= National income - Personal Taxes + Gov transfer payments

NET DOMESTIC PRODUCT

= GDP - Depreciation

NET NATIONAL PRODUCT

= GNP - Depreciation

GNP

=  GDP + Net foreign factor payment