Homework Answers
Ans. GDP = Consumption (C) + Investment (I) + Government Expenditure (G) + Net Export ( NX)
GDP = Consumption
( Durable goods + Non-durable goods + Services )
+ Gross Private Investment
+ Government Expenditure
( Federal government consumption + State and Local government consumption )
+ Net Export
( Export-Import )
GDP = (1,170 + 2,815 + 5.584 ) + 2,413 + (1,628 + 1,100) + ( 337 - 1,150 )
GDP = 9,569 + 2,413 + 2,728 + ( - 813 )
GDP = 13,897
Hence, the value of the GDP is 13,897.
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8. The income approach The following table shows macroeconomic data for a hypothetical country. All figures...
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help 1. What is the value of "Net Exports"? 2. What is the amount of GDP?...
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2. Download the annual real GDP and GDP data of the United States 1950-2018 from FRED....
2. Download the annual real GDP and GDP data of the United States 1950-2018 from FRED. For the real GDP, the data online is chain-weighted and uses 2012 as the base year. In the lecture hursday, I showed you the detailed method and calculated the new chain-weighted real GDP when 1990 is the base year. You are required to calculate a new sequence of chain- weighted real GDP given a new base-year. The base year you should use in your...
I 1) Gross Domestic Product (GDP) is A) the total wholesale value of all final goods and services produced by factors of production owned by citizens of a nation B) the total market value of all services produced by factors of production located within a nation's borders. C) the total market value of all goods produced within a nation's borders D) the total market value of all final goods and services produced by factors of production located within a nation's...
8. The income approach The following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars. Billions of Dollars $2,300 Gross private domestic investment Depreciation Exports $1,987 $3,120 $200 $4,521 Imports Government purchases of goods and services Personal consumption expenditures Indirect business taxes and misc. items Income received from other countries $6,300 $1,341 $1,118 $1,022 $8,174 $1,895 Income paid to other countries Compensation of employees (wages) Corporate profits Rental income Net interest Proprietors' income $365...
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help
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