One day, Barry the Barber, Inc., collects $450 for haircuts. Over this day, his equipment depreciates in value by $30. Of the remaining $420, Barry sends $40 to the government in sales taxes, takes home $270 in wages, and retains $110 in his business to add new equipment in the future. From the $270 that Barry takes home, he pays $80 in income taxes. Based on this information, complete the following table by computing Barry's contribution to the measures of income listed. "Barry's Contribution (Dollars)", "Measure of Income "Gross Domestic Product, Net National Product, National Income, Personal Income, Disposable Personal Income.

Explanation:

Data given in the question

Collection made for haircuts = $450

Equipment Depreciates value = $30

Sales taxes = $40

Wages = $270

New equipment = $110

Home collection = $270

Income taxes = $80

So by considering the above information, the calculation is as follows

Gross domestic product is $450

Net national product is

= Gross domestic product - depreciation

= $450 - $30

= $420

National income is the same as net national product so it is also $420

Personal income is

= National income - new equipment - sales taxes

= $420 - $110 - $40

= $270

And, the disposal personal income is

= Personal income - income tax

= $270 - $80

= $190

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