3. Categories of expenditures Tim and Alyssa Espinosa live in Swarthmore, PA. Their son, Brian, owns his own plumbing business. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction G M Brian buys a new set of tools to use in his plumbing business. Tim buys a sweater made in Guatemala. Alyssa gets a new video camera made in the United States. Tim's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. - O O O U O o O

GDP Problem. Given the following information, compute GDP by either the Expenditures or the Income approach.  [You do not have to compute GDP both ways.]  Name which of the two approaches you are using, and identify all the accounts (e.g., “All profits” or “Gross Private Investment”)  you use in your computation of GDP.         All profits $ 800               Government purchases of goods & services    300              Imports      50        Government transfer payments   250                   Exports  50              Gross private investment     500      Rent   20            Wages, salaries      5000      Personal saving    1600      Depreciation   60              Net foreign income         0           Personal consumption expenditures     5200      Taxes on production & tariffs    40               Sales of stocks and bonds  1200           Interest   80                                               IDENTIFY:    ______________________ APPROACH USED  ACCOUNT…

1. Explain with your own words the definition of Gross Domestic Product. 2. How does the growth rate of real GDP contribute to an improved standard of living? 3. Use the following data to answer the question. The table lists some macroeconomic data for the United States in 2008. Item                                                    Billions of dollars Wages paid to labor                   8,000Consumption expenditure    10,000Net operating surplus               3,200Investment                                       2,000Government expenditure        2,800Net exports                                    –700Depreciation                                   1,800 3a) Calculate U.S. GDP in 2008.

Use the expenditure approach to calculate GDP. GDP is _____

Jse the relevant information below: Inventory investment. $50 billion 120 billion Fixed investment Consumer durables 420 billion 275 billion Consumer nondurables Interest 140 billion Indirect business taxes 45 billion Government wages and salaries 300 billion Government purchases of goods and 110 billion services Imports 80 billion Exports 40 billion Consumer semi-durables 185 billion Profits 320 billion Consumer services 600 billion 1. Calculate Consumption, Investment, Government spending 2. Explain the expenditure method of calculating the GDP. How this method is different from the income method of calculating the GDP? 3. Use suitable method to calculate GDP and show your work.

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1. Calculate the values for the blanks in the shaded areas of the table below (identify your responses in a logical fashion in your document): Expenditure Components of GDP by Country, 2018 (billions of US dollars) Denmark Finland Australia Canada India Japan New Zealand UK US Consumption 808.7 996.9 165.9 146.1 1650.6 2763.3 120.0 1870.5 13998.7 Investment Business fixed investment 336.9 385.1 78.8 65.6 842.7 1202.5 49.1 487.3 4260.7 Changes in inventories 0.1 9.4 2.9 3.4 27.4 11.2 0.1 5.8 54.7 Government 275.5 357.1 86.6 62.7 312.1 981.6 38.4 528.3 2904.3 Net Exports Exports Imports 348.5 544.9 197.9 106.8 548.6 917.1 58.2 856.8 2510.2 312.0 581.1 176.4 108.8 657.0 904.4 58.1 907.1 3148.5 GDP Source: UNData, UN Statistics Division, data.un.org, GDP by Type of Expenditure at current prices – US dollars 2. Based on the information in the table and your calculations for Question #1: Do any countries have positive net exports? Which one(s)? Which country has the largest negative net…

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i need help with this macro econmics question 4

Explain how net exports affect the U.S. economy.Describe both positive and negative impacts onGDP. Why do national income accountants usenet exports to compute GDP, rather than simplyadding exports to the other expenditure componentsof GDP?