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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 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 >

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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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 Next >
Transcribed Image Text:☑ 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 >
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