The table below shows hypothetical values of the expenditure components for the United States in 2016. Expenditure Component Amount of Expenditure (billions of dollars) Durable goods $1,269.30 Nondurable goods 2,638.30 Services 7,763.00 Gross investment 2,682.40 Exports 2,302.90 Imports 2,803.60 Federal government 1,250.00 State and local government 1,943.00 Using the values in the table, calculate the following aggregate expenditures and nominal GDP. Instructions: Round your answers to one decimal place. If you are entering a negative number, include a minus sign. Calculate consumption expenditures in 2016. $________ billion Calculate the amount of net exports in 206. $_________billion Calculate nominal GDP in 2016. $________ billion
The table below shows hypothetical values of the expenditure components for the United States in 2016.
Expenditure Component Amount of Expenditure (billions of dollars)
Durable goods $1,269.30
Nondurable goods 2,638.30
Services 7,763.00
Gross investment 2,682.40
Exports 2,302.90
Imports 2,803.60
Federal government 1,250.00
State and local government 1,943.00
Using the values in the table, calculate the following aggregate expenditures and nominal GDP.
Instructions: Round your answers to one decimal place. If you are entering a negative number, include a minus sign.
- Calculate consumption expenditures in 2016.
$________ billion
- Calculate the amount of net exports in 206.
$_________billion
- Calculate nominal GDP in 2016.
$________ billion
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