Question

Attempts: Keep the Highest 12 3. Calculating GDP from raw economic data The following table shows data on personal consumption expenditures, gross private domestic investment, exports, imports, and government consumption expenditures and gross investment for the United States in 2010, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. ♡ Fill in the missing cells in the following table to calculate GDP. Components Personal Consumption Expenditures (C) Gross Private Domestic Investment (I) Exports (X) Imports (M) Net exports of goods and services (XM) Government Consumption Expenditures and Gross Investment (C) Cross domestic product (GDP) $10,417.1 $1,818 $1,935.3 $2,435.5 S $3,020.2 This method of calculating GOR which involves summing the approach is called the Grade it Now Save & Continue

Answer 1

Net exports are defined as the total amount of exports less the total amount of import. Here it is X- M , 1935.3-2435.5= -500.2

Net Exports is negative if a country exports less than it imports.

GDP= 10417.1+1818-500.2+3020.2= 14755.1

Summing the: C + G + I + NX (where C=consumption; G=government spending; I=Investment; and NX=net exports)

Is called the expenditure approach.

Answer 2

Net exports are defined as the total amount of exports less the total amount of import. Here it is X- M , 1935.3-2435.5= -500.2

Net Exports is negative if a country exports less than it imports.

GDP= 10417.1+1818-500.2+3020.2= 14755.1

Summing the: C + G + I + NX (where C=consumption; G=government spending; I=Investment; and NX=net exports)

Is called the expenditure approach.