The table lists some national accounts data for the United States in 2008 Calculate U.S GDP in 2008. Explain the approach (expenditure or income)that you used to calculate GDP. Item Billions of Dollars Wages Paid to labor 8,000 Consumption expenditure 10,000 Net operation surplus 3,200 Investment 2,000 Government expenditure 2,800 Net exports -700 Depreciation 1,800

The table lists some national accounts data for the United States in 2008 Calculate U.S GDP in 2008. Explain the approach (expenditure or income)that you used to calculate GDP. Item Billions of Dollars Wages Paid to labor 8,000 Consumption expenditure 10,000 Net operation surplus 3,200 Investment 2,000 Government expenditure 2,800 Net exports -700 Depreciation 1,800

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Tracking The U.s. Economy

Section: Chapter Questions

Problem 1.2P

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Item	Billions of Dollars
Wages Paid to labor	8,000
Consumption expenditure	10,000
Net operation surplus	3,200
Investment	2,000
Government expenditure	2,800
Net exports	-700
Depreciation	1,800