Given the following data for the economy, compute the value of the investment component of GDP. Government purchases of goods and services 22 Consumption expenditures 100 Exports 11 Imports 22 Change in inventories −13 Construction of new homes and apartments 20 Sales of existing homes and apartments 20 Government payments to retirees 26 Business fixed investment 21
Given the following data for the economy, compute the value of the investment component of GDP. Government purchases of goods and services 22 Consumption expenditures 100 Exports 11 Imports 22 Change in inventories −13 Construction of new homes and apartments 20 Sales of existing homes and apartments 20 Government payments to retirees 26 Business fixed investment 21
Chapter19: Measuring Economic Performance
Section: Chapter Questions
Problem 6P
Related questions
Question
Given the following data for the economy, compute the value of the investment component of
Government purchases of goods and services | 22 |
---|---|
Consumption expenditures | 100 |
Exports | 11 |
Imports | 22 |
Change in inventories | −13 |
Construction of new homes and apartments | 20 |
Sales of existing homes and apartments | 20 |
Government payments to retirees | 26 |
Business fixed investment | 21 |
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Economics Today and Tomorrow, Student Edition
Economics
ISBN:
9780078747663
Author:
McGraw-Hill
Publisher:
Glencoe/McGraw-Hill School Pub Co