The accompanying chart presents 2008 data from the national-income accounts of the United States. Component Billions of Dollars Personal consumption $10,057.9 Employee compensation 8,055.1 Rents 64.4...

The accompanying chart presents 2008 data from the national-income accounts of the United States. Component Billions of Dollars Personal consumption $10,057.9 Employee compensation 8,055.1 Rents 64.4 Gov’t consumption & investment 2,882.4 Imports 2,528.6 Depreciation 1,968.1 Corporate profits 1,476.5 Interest income 682.7 Exports 1,859.4 Gross private investment 1,993.5 Indirect business taxes 1,078.6 Self-employment income 1,072.4 Net income of foreigners 133.2 a. Indicate the various components of GDP when it is derived by the expenditure approach. Calculate GDP using the expenditure approach. b. Indicate the various components of GDP when it is derived by the resource cost–income approach. Calculate GDP using the resource cost–income approach.