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Foreign purchases of domestically produced goods $88 Domestic purchases of foreign goods S120 Based on Table 1, identify the GDP and its component and compute the following: i) consumption ii) investment iii) government purchase iv) net exports v) GDP

Foreign purchases of domestically produced goods $88 Domestic purchases of foreign goods S120 Based on Table 1, identify the GDP and its component and compute the following: i) consumption ii) investment iii) government purchase iv) net exports v) GDP

MACROECONOMICS
MACROECONOMICS
14th Edition
ISBN:9781337794985
Author:Baumol
Publisher:Baumol
Chapter8: Aggregate Demand And The Powerful Consumer
Section8.A: National Income Accounting
Problem 3TY
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1. Table 1 contains the data for Country A for year 2020. Table 1 Household purchases of durable goods $1293 Household purchases of nondurable goods $1717 Household purchases of services $301 Household purchases of new housing $704 Purchases of capital equipment $310 Inventory changes $374 Purchases of new structures $611 Depreciation $117 Salaries of government workers $1422 Government expenditures on public works $553 Transfer payments S777 Foreign purchases of domestically produced goods $88 Domestic purchases of foreign goods $120 Based on Table 1, identify the GDP and its component and compute the following: i) consumption ii) investment ii) government purchase iv) net exports v) GDP
Transcribed Image Text:1. Table 1 contains the data for Country A for year 2020. Table 1 Household purchases of durable goods $1293 Household purchases of nondurable goods $1717 Household purchases of services $301 Household purchases of new housing $704 Purchases of capital equipment $310 Inventory changes $374 Purchases of new structures $611 Depreciation $117 Salaries of government workers $1422 Government expenditures on public works $553 Transfer payments S777 Foreign purchases of domestically produced goods $88 Domestic purchases of foreign goods $120 Based on Table 1, identify the GDP and its component and compute the following: i) consumption ii) investment ii) government purchase iv) net exports v) GDP
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