The table below details the composition of an economy’s GDP by spending category. Category Expenditures (billions of dollars) Fixed business investment $3,250.00 Durable goods $2,100.00 Exports $700.00 Federal government purchases $1,600.00 New home construction $1,000.00 Imports $840.00 Change in inventories $-250.00 Nondurable goods $5,200.00 Services $8,250.00 State and local government purchases $2,550.00 Use the information in the table to calculate the following: a) Consumption: $ billion b) Investment: $ billion c) Government: $ billion d) Net exports: $ billion
The table below details the composition of an economy’s GDP by spending category. Category Expenditures (billions of dollars) Fixed business investment $3,250.00 Durable goods $2,100.00 Exports $700.00 Federal government purchases $1,600.00 New home construction $1,000.00 Imports $840.00 Change in inventories $-250.00 Nondurable goods $5,200.00 Services $8,250.00 State and local government purchases $2,550.00 Use the information in the table to calculate the following: a) Consumption: $ billion b) Investment: $ billion c) Government: $ billion d) Net exports: $ billion
Chapter19: Measuring Economic Performance
Section: Chapter Questions
Problem 6P
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Question
The table below details the composition of an economy’s
a) Consumption: $ billion
b) Investment: $ billion
c) Government: $ billion
d) Net exports: $ billion
e) GDP: $ billion
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