5. Categorizing the expenditure and resource cost-income approaches The following table shows macroeconomic data for an imaginary economy. All figures are in billions of dollars. For each account, identify which approach uses it to derive GDP by selecting either Expenditure or Resoruce Cost-Income in the Approach column. Billions of Dollars Approach Federal Consumption and Gross Investment $1,568 Interest income $569 Gross Private Investment $2,293 Services $5,524 Depreciation $1,617 Durable goods $1,110 Proprietor's income $1,075 Employee compensation $7,558 Rents $137 Corporate profits $1,676 State/Local Consumption and Gross Investment $1,040 Net income of foreigners -$190 Nondurable goods $2,755 Imports $1,060 Indirect business taxes $1,065 Exports $277 Use the previous table to calculate personal consumption, government consumption and gross investment, and net exports and complete the following table. Make sure to specify the sign for the Net Exports values. Billions of Dollars Personal Consumption %24 Government Consumption and Gross Investment 24 Net Exports %24

See Figure 2.2 and examine the model.  Unlike other circular flow models, this model is missing another sector/s. what is the missing sector?

Suppose that the following headlines appeared in a newspaper Which would most clearly represent a macroeconomic issue? Select one "Auto Dealership to Cut Prices" b. "United Workers Union to Strike April 15 C. "Fanny's Freeze Dried Prunes to Lay Off 50 Workers" d. "Central Bank Raises Interest Rates" CLEAR MY CHOICE 0 0 O 0