Macroeconomics
10th Edition
ISBN: 9781319105990
Author: Mankiw, N. Gregory.
Publisher: Worth Publishers,
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Question
Chapter 2, Problem 4PA
(a)
To determine
The components of expenditure or
(b)
To determine
The components of expenditure or GDP.
(c)
To determine
The components of expenditure or GDP.
(d)
To determine
The components of expenditure or GDP.
(e)
To determine
The components of expenditure or GDP.
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Students have asked these similar questions
Van and Amy Cho live in Conshohocken, PA. Amy's father, Carlos, lives in Sweden.
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
Amy's father in Sweden orders a bottle of Vermont maple syrup from the producer's website.
Amy gets a new refrigerator made in the United States.
The Pennsylvania Department of Transportation, a state administration, fixes potholes along PA highway
23, which feeds into the center of Conshohocken.
Van's employer upgrades all of its computer systems using U.S.-made parts.
Van buys a sweater made in Guatemala.
C
I
0
G
0
0
X
|
M
Analyzing a Table:
Analyzing a Table:
item
billions of dollar
consumption ependiture
6258
investment
1623
government expenditure on goods and services
1630
exports of goods and services
998
imports of goods and services
1252
The table above gives the values of different expenditures in the United States during 1999. Answer the following questions about the United States.
What was the value of net exports of goods and services in 1999?
What was GDP equal to in 1999?
Describe the graph and its trend.
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- Calculate the four components of expenditure and GDP for the following economy using data from the table below. Instructions: Enter your responses as whole numbers. GDP Consumption expenditures Exports Government purchases of goods and services Construction of new homes and apartments Sales of existing homes and apartments $550 $75 $200 $100 $200 $50 Imports Beginning-of-year inventory stocks $100 End-of-year inventory stocks Business fixed investment Government payments to retirees Household purchases of durable goods $125 $100 $100 $150 Consumption expenditures: Investment expenditures: Government Purchases: Net Exports: GDP:arrow_forwardCalculate the four components of expenditure and GDP for the following economy using data from the table below.Instructions: Enter your responses as whole numbers. GDP Consumption expenditures $600 Exports $75 Government purchases of goods and services $200 Construction of new homes and apartments $200 Sales of existing homes and apartments $200 Imports $50 Beginning-of-year inventory stocks $100 End-of-year inventory stocks $125 Business fixed investment $100 Government payments to retirees $100 Household purchases of durable goods $150 Consumption expenditures: $ Investment expenditures: $ Government Purchases: $Net Exports: $GDP: $arrow_forwardWhich of the following is considered in the consumption component of the United States' GDP? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a b GDP.48 Homework Answered Due Mar 17th, 11:59 PM d e Alice buys a shirt made in the U.S. this year. Bill buys a shirt made in the U.S. last year. Cammie buys a new house. Daryl buys a shirt made in Taiwan. The government pays for police protection. X Your answerarrow_forward
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