Calculate the four components of expenditure and GDP for the following economy using data from the table below.Instructions: Enter your responses as whole numbers. GDP Consumption expenditures$600 Exports$75 Government purchases of goods and services$200 Construction of new homes and apartments$200 Sales of existing homes and apartments$200 Imports$50 Beginning-of-year inventory stocks$100 End-of-year inventory stocks$125 Business fixed investment$100 Government payments to retirees$100 Household purchases of durable goods$150 Consumption expenditures: $ Investment expenditures: $Government Purchases: $Net Exports: $GDP: $

Consumption expenditure is given: $600 Investment Exoenditure= Construction of new himes and…

Answered: Calculate the four components of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Calculate the four components of expenditure and GDP for the following economy using data from the table below.

Instructions: Enter your responses as whole numbers.

GDP
Consumption expenditures	$600
Exports	$75
Government purchases of goods and services	$200
Construction of new homes and apartments	$200
Sales of existing homes and apartments	$200
Imports	$50
Beginning-of-year inventory stocks	$100
End-of-year inventory stocks	$125
Business fixed investment	$100
Government payments to retirees	$100
Household purchases of durable goods	$150

Consumption expenditures: $

Investment expenditures: $

Government Purchases: $

Net Exports: $

GDP: $

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