☑ 1:26 Expenditures in the United States Expenditure Component Amount of Expenditure (billions of Durable goods Nondurable goods Services Nonresidential fixed investment Residential fixed investment Change in private inventories Exports Imports Federal government State and local government dollars) $1,367.1 2,666.0 8,299.1 2,336.2 645.4 111.9 2,264.9 2,789.0 1,224.0 1,994.9 Using the values in the table, calculate the following aggregate expenditures and nominal GDP. Instructions: Round your answers to 1 decimal place. a. What is the value of consumption expenditures in 2015? $ billion b. What is the value of government expenditures in 2015? $ 3218.9 billion c. What is the value of gross investment in 2015? $ ☐ billion d. What is the value of nominal GDP in 2015? billion < Prev 4 of 10 Next >
☑ 1:26 Expenditures in the United States Expenditure Component Amount of Expenditure (billions of Durable goods Nondurable goods Services Nonresidential fixed investment Residential fixed investment Change in private inventories Exports Imports Federal government State and local government dollars) $1,367.1 2,666.0 8,299.1 2,336.2 645.4 111.9 2,264.9 2,789.0 1,224.0 1,994.9 Using the values in the table, calculate the following aggregate expenditures and nominal GDP. Instructions: Round your answers to 1 decimal place. a. What is the value of consumption expenditures in 2015? $ billion b. What is the value of government expenditures in 2015? $ 3218.9 billion c. What is the value of gross investment in 2015? $ ☐ billion d. What is the value of nominal GDP in 2015? billion < Prev 4 of 10 Next >
Chapter1: Making Economics Decisions
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1:26
Expenditures in the United States
Expenditure Component
Amount of
Expenditure
(billions of
Durable goods
Nondurable goods
Services
Nonresidential fixed investment
Residential fixed investment
Change in private inventories
Exports
Imports
Federal government
State and local government
dollars)
$1,367.1
2,666.0
8,299.1
2,336.2
645.4
111.9
2,264.9
2,789.0
1,224.0
1,994.9
Using the values in the table, calculate the following aggregate
expenditures and nominal GDP.
Instructions: Round your answers to 1 decimal place.
a. What is the value of consumption expenditures in 2015?
$
billion
b. What is the value of government expenditures in 2015?
$ 3218.9 billion
c. What is the value of gross investment in 2015?
$ ☐ billion
d. What is the value of nominal GDP in 2015?
billion
< Prev
4 of 10
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