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5. Categorizing the expenditure and resource cost-income approaches The following table shows macroeconomic data for an imaginary economy. All figures are in billions of dollars. For each account, identify which approach uses it to derive GDP by selecting either Expenditure or Resoruce Cost-Income in the Approach column. Billions of Dollars Approach Federal Consumption and Gross Investment $1,568 Interest income $569 Gross Private Investment $2,293 Services $5,524 Depreciation $1,617 Durable goods $1,110 Proprietor's income $1,075 Employee compensation $7,558 Rents $137 Corporate profits $1,676 State/Local Consumption and Gross Investment $1,040 Net income of foreigners -$190 Nondurable goods $2,755 Imports $1,060 Indirect business taxes $1,065 Exports $277 Use the previous table to calculate personal consumption, government consumption and gross investment, and net exports and complete the following table. Make sure to specify the sign for the Net Exports values. Billions of Dollars Personal Consumption %24 Government Consumption and Gross Investment 24 Net Exports %24

5. Categorizing the expenditure and resource cost-income approaches The following table shows macroeconomic data for an imaginary economy. All figures are in billions of dollars. For each account, identify which approach uses it to derive GDP by selecting either Expenditure or Resoruce Cost-Income in the Approach column. Billions of Dollars Approach Federal Consumption and Gross Investment $1,568 Interest income $569 Gross Private Investment $2,293 Services $5,524 Depreciation $1,617 Durable goods $1,110 Proprietor's income $1,075 Employee compensation $7,558 Rents $137 Corporate profits $1,676 State/Local Consumption and Gross Investment $1,040 Net income of foreigners -$190 Nondurable goods $2,755 Imports $1,060 Indirect business taxes $1,065 Exports $277 Use the previous table to calculate personal consumption, government consumption and gross investment, and net exports and complete the following table. Make sure to specify the sign for the Net Exports values. Billions of Dollars Personal Consumption %24 Government Consumption and Gross Investment 24 Net Exports %24

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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5. Categorizing the expenditure and resource cost-income approaches The following table shows macroeconomic data for an imaginary economy. All figures are in billions of dollars. For each account, identify which approach uses it to derive GDP by selecting either Expenditure or Resoruce Cost-Income in the Approach column. Billions of Dollars Approach Federal Consumption and Gross Investment $1,568 Interest income $569 Gross Private Investment $2,293 Services $5,524 Depreciation $1,617 Durable goods $1,110 Proprietor's income $1,075 Employee compensation $7,558 Rents $137 Corporate profits $1,676 State/Local Consumption and Gross Investment $1,040 Net income of foreigners -$190 Nondurable goods $2,755 Imports $1,060 Indirect business taxes $1,065 Exports $277 Use the previous table to calculate personal consumption, government consumption and gross investment, and net exports and complete the following table. Make sure to specify the sign for the Net Exports values. Billions of Dollars Personal Consumption %24 Government Consumption and Gross Investment 24 Net Exports %24
Transcribed Image Text:5. Categorizing the expenditure and resource cost-income approaches The following table shows macroeconomic data for an imaginary economy. All figures are in billions of dollars. For each account, identify which approach uses it to derive GDP by selecting either Expenditure or Resoruce Cost-Income in the Approach column. Billions of Dollars Approach Federal Consumption and Gross Investment $1,568 Interest income $569 Gross Private Investment $2,293 Services $5,524 Depreciation $1,617 Durable goods $1,110 Proprietor's income $1,075 Employee compensation $7,558 Rents $137 Corporate profits $1,676 State/Local Consumption and Gross Investment $1,040 Net income of foreigners -$190 Nondurable goods $2,755 Imports $1,060 Indirect business taxes $1,065 Exports $277 Use the previous table to calculate personal consumption, government consumption and gross investment, and net exports and complete the following table. Make sure to specify the sign for the Net Exports values. Billions of Dollars Personal Consumption %24 Government Consumption and Gross Investment 24 Net Exports %24
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