Calculate the four components of aggregate expenditure and GDP for the following economy using data from the table below.Instructions: Enter your responses as whole numbers. If you are entering any negative numbers, be sure to include a negative (-) sign in front of those numbers. GDPConsumption expenditures$550Exports$100Government purchases of goods and services$200Construction of new homes and apartments$200Sales of existing homes and apartments$200Imports$50Beginning-of-year inventory stocks$100End-of-year inventory stocks$50Business fixed investment$100Government payments to retirees$100Household purchases of durable goods$150Consumption expenditures: $ Investment expenditures: $ Government Purchases: $ Net Exports: $ GDP: $

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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

Instructions: Enter your responses as whole numbers. If you are entering any negative numbers, be sure to include a negative (-) sign in front of those numbers.

GDP
Consumption expenditures	$550
Exports	$100
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	$50
Business fixed investment	$100
Government payments to retirees	$100
Household purchases of durable goods	$150