4. Measuring GDP The following table shows data on consumption, investments, exports, imports, and government expenditures for the United States in 2014, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the table to calculate GDP using the expenditure approach. Consumption (C) Investment (I) Exports (X) Imports (M) Net Exports of Goods and Services Government Purchases (G) Gross Domestic Product (GDP) Data (Billions of dollars) 11,930.3 2,851.6 2,337.0 2,875.2 3,175.2
4. Measuring GDP The following table shows data on consumption, investments, exports, imports, and government expenditures for the United States in 2014, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the table to calculate GDP using the expenditure approach. Consumption (C) Investment (I) Exports (X) Imports (M) Net Exports of Goods and Services Government Purchases (G) Gross Domestic Product (GDP) Data (Billions of dollars) 11,930.3 2,851.6 2,337.0 2,875.2 3,175.2
Chapter5: Gross Domestic Product
Section: Chapter Questions
Problem 9SQ
Related questions
Question
1
Transcribed Image Text:4. Measuring GDP
The following table shows data on consumption, investments, exports, imports, and government expenditures for the United States in 2014, as
published by the Bureau of Economic Analysis. All figures are in billions of dollars.
Fill in the missing cells in the table to calculate GDP using the expenditure approach.
Consumption (C)
Investment (I)
Exports (X)
Imports (M)
Net Exports of Goods and Services
Government Purchases (G)
Gross Domestic Product (GDP)
Data
(Billions of dollars)
11,930.3
2,851.6
2,337.0
2,875.2
3,175.2
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Economics: Private and Public Choice (MindTap Cou…
Economics
ISBN:
9781305506725
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Macroeconomics: Private and Public Choice (MindTa…
Economics
ISBN:
9781305506756
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc