Calculate the four components of aggregate expenditure and GDP for the following economy using data from the table below.
Calculate the four components of aggregate expenditure and GDP for the following economy using data from the table below.
Instructions: Enter your responses as whole numbers. If you are entering any negative numbers, be sure to include a negative (-) sign in front of those numbers.
GDP
Consumption expenditures $600
Exports $75
Government purchases of goods and services $200
Construction of new homes and apartments $100
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: _______
Govemment Purchases: _______
Homework Answers
From the table, we can see that:
1) Consumption expenditures = $600
(inclusive of household purchase of durable goods)
2) Investment expenditures = Business fixed investment + Construction of new homes and apartments + Changes in inventory stock (final stock - initial stock)
= $100 + $100 + ($125 - $100) = $225
3) Government Purchases = $200
4) Net exports = Exports - Imports
= $75 - $50 = $25
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Calculate the four components of aggregate expenditure and GDP for the following economy using data from the table below.
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