2. What has been the trend in each component of National Income for the United States?3. What component of National Income is the highest?4. Has the U.S. balance of trade been in surplus or deficit over the past years? Only typing answerI need ASAP 80%70%60%50%40%30%20%10%0%-10%Gross Domestic Product and Components. Nominal.19891990199119921993199419951997-Household Consumption Expenditure-Gross Fixed Capital Formation-Trade balanceGovernment Consumption ExpenditureChange in Inventories

Aggregate expenditure: aggregate expenditure is the sum of consumption expenditure, investment…

Answered: 2. What has been the trend in each…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

2. What has been the trend in each component of National Income for the United States?
3. What component of National Income is the highest?
4. Has the U.S. balance of trade been in surplus or deficit over the past years?

Only typing answer

I need ASAP

80%
70%
60%
50%
40%
30%
20%
10%
0%
-10%
Gross Domestic Product and Components. Nominal.
1989
1990
1991
1992
1993
1994
1995
1997
-Household Consumption Expenditure
-Gross Fixed Capital Formation
-Trade balance
Government Consumption Expenditure
Change in Inventories

Definition Definition Difference in value of a country's net exports and net imports for goods and services in a given period. A positive balance of trade is called a surplus and coincides with more net cash inflows into a country; a negative balance of trade deficit is a deficit and results in net cash outflows. A balance of trade surplus or deficit doesn't necessarily indicate a positive or negative situation for a country.

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