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The following table shows national income by the type of income for the hypothetical economy of Highlands. Income Data for Highlands Type of Income Amount of Income (billions of dollars) Rent $300 Wages 800 Interest 150 Profits and losses 400 Indirect business taxes 70 Depreciation 180 Net foreign interest income 50 Instructions: Enter your answers as a whole number. a. What is the value of national income for Highlands? $ billion b. Using the income approach, what is the value of nominal GDP for Highlands? $ billion