The following table shows data on personal consumption expenditures, gross private domestic investment, exports, imports, and government consumption expenditures and gross investment for the United States in 2007, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the following table to calculate GDP. Components   Personal Consumption Expenditures (CC) $9,734.2 Gross Private Domestic Investment (II) $2,125.4 Exports (XX) $1,643 Imports (MM) $2,351 Net exports of goods and services (X−MX−M)   Government Consumption Expenditures and Gross Investment (GG) $2,689.8 Gross domestic product (GDP)     This method of calculating GDP, which involves summing the       , is called the               approach

Explain some reasons why consumption spending and gross private domestic investment spending are so important.  What determinants do they have in common?

This question has four parts. (its not a writing assignment, just asking for a numerical value or simple answer) 1.1. What is the US GDP for the first quarter and second quarter of 2020?  What is the personal consumption expenditures for the first quarter and second quarter of 2020?   Go to the website for the Bureau of Economic Analyses (BEA):  https://www.bea.gov/   Section 1: Domestic Product and Income; Table 1.1.5   1.2. Use the information in Table 1 to analyze aggregate expenditures (AE) model below (Figure 1. Equilibrium in a Private Closed Economy).  (table 1 and figure 1 are in the attachments)   1.3.  Identify the mistake and explain why the graph of the aggregate expenditures line does not correctly illustrate the economy's equilibrium.   1.4. Create a graph for the aggregate expenditures (AE) model using the data from Table 1: A Private Closed Economy.   Tips: Remember, the 45degree line (also known as the Keynesian Cross) is a tool that shows how differences in aggregate…

The following expenditure equation is utilised to measure the economy:  GDP = C + I + G + (X-M) Analyse each of the situations below and state which expenditures (or parts of the expenditures) would be counted under which of the four segments of the GDP expenditure equation, ie C, I, G or (X-M). a.       The purchase of Australian made furniture by a business for use in its cafe. b.       The purchase of foreign made furniture by a business for use in its café. c.       The purchase of wood by a business to manufacture furniture which will then be sold to Australian and foreign customers. d.       The purchase of 100 shares in ANZ Bank through a stockbroker. e.       Purchase of a 10-year-old foreign-made second-hand car from a Car Sales business in Parramatta, NSW. f.        A pension paid by the Australian Government to an old age pensioner. g.       You babysit for your nieces and nephews so your sister and her husband can go out for dinner.

The table gives data on the economy of Iberia. Calculate Iberia's GDP. Iberia's GDP is $ billion. Item Net taxes Government expenditure on goods and services Saving Consumption expenditure Investment Exports of goods and services (billions of dollars) 10 20 15 65 18 35

Which spending category of GDP does each of the following transactions count in? Please enter the letter C, I, G, NX, or N to represent consumption, investment, government spending, net exports, or none. The government paid a total of $30,000 in subsidies to people who had installed solar panels on their homes  . Bill spent his $400 social security check on rent and food  . Company X produces $5,000 of wine this year but they do not sell it  . Your parents pay $8,000 for tuition to UCF  . The government pays $1 million to people it hires to collect census data

Gross Domestic Product (GDP) gross domestic product = consumption + investment + government purchases + net exports GDP = C + I + G + (X − M), calculate GDP using the expenditure approach.   Inventory investment $50 billion Fixed investment $120 billion Consumer durables $420 billion Consumer nondurables $275 billion Interest $140 billion Indirect business taxes $45 billion Government wages and salaries $300 billion Government purchases of goods and services $110 billion Imports $80 billion Exports $40 billion Profits $320 billion Services $600 billion

Consumers in a small economy spend $50,000 on goods and services annually. Also annually, investment is $10,000, government spending is $7,000, exports are $400, and imports are $200. What is the value of GDP in this economy? Provide your answer below:

Definition of GDP and explanation of why this is equal to national income [ an explanation of how expenditure approach and income approach to GDP are related ]

1