Exploring Macroeconomics
8th Edition
ISBN: 9781544337722
Author: Robert L. Sexton
Publisher: SAGE Publications, Inc
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Question
Chapter 11, Problem 6P
To determine
To compute:
The missing data of the given table.
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Students have asked these similar questions
The following table shows data on consumption, investments, exports, imports, and government expenditures for the United States in 2017, as published by the Bureau of Economic Analysis. All figures are in billions of dollars.
Fill in the missing cells in the table to calculate GDP using the expenditure approach.
Data
(Billions of dollars)
Consumption (C)
13,321.4
Investment (I)
3,368.0
Exports (X)
2,350.2
Imports (M)
2,928.6
Net Exports of Goods and Services
Government Purchases (G)
3,374.4
Gross Domestic Product (GDP)
Use the table to find GDI, GDP, gross private domestic investment,
personal income, and personal disposable income. (All amounts in
trillions of dollars.)
Profit
Indirect business taxes
Rent
Interest
Wages
Depreciation
Consumption
Government spending
Imports
Social Security contributions
Exports
Government transfer payments
Personal income taxes and nontax
payments
Corporate taxes and retained
earnings
2.8
.8
.7
.8
8.2
1.3
11.0
1.8
1.7
2.0
1.5
2.0
1.7
.5
Please discuss what formula you are using to get each one of the
answers.
Given the following information, calculate personal consumption expenditures.
GDP
$5,000
Gross Private Domestic Investment
$1,500
Government Consumption Expenditures and Gross Investment
$1,000
Net Exports
-$500
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