Final answer:
The question seems to misunderstand the context of multi-step income statements and instead provides steps for calculating aggregate expenditure in macroeconomics. To calculate aggregate expenditure, add up consumption (C), investment (I), government spending (G), exports (X), and subtract imports (M). These calculations follow specific steps outlined in macroeconomic problems and differ from income statement components.
Step-by-step explanation:
The intermediate components of a multi-step income statement typically include gross profit, operating income, and income before taxes. However, the information provided relates to aggregate expenditure in the context of macroeconomics, and not directly to income statements. When calculating aggregate expenditure, it is necessary to consider various economic factors. As part of this calculation, you would add up consumption (C), investment (I), government spending (G), and exports (X), and then subtract imports (M). In this context, these components reflect the total spending on the nation's output of goods and services at each level of national income.
Step-by-Step Calculation
- Calculate imports as a percentage of after-tax income.
- Add the constant values of investment (I), government spending (G), and exports (X) as they do not change with the national income.
- Finally, add consumption (C) to these values and subtract the imports (M) to find the aggregate expenditure (C + I + G + X - M).
Your completed table should follow the format and values as outlined in your source material, such as Table B5 or Table D5, depending on the scenario you are referring to.