Consider the following NIPA data for 1Q2021 (First Quarter 20210 $ billlion)Investment: Non Residential$2,948.3Exports $2,305.3PCE Goods $5,183.5Investment: Residential$1,043.7Government Expendiures Federal $1,557.0PCE Services$9,857.7Imports $3,152.3Governemnt Expenditures : State and local Goernent Expenditures$2,395.9Change in private inventories-$90.1 2a. Compute the weights of each of PCE, GPDI, NX and GOV) in GDP2b. Consider the following rates of change (%) for each of the above items. % changePCE10.70%GPDI-5.00%NX-6.80%GOV6.30%

2a. GDP = C + I + G + NX Here, C or Personal Consumption Expenditure = 5183.5 + 9857.7 = 15,041.20…

Answered: Compute the weights of each of PCE,…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Consider the following NIPA data for 1Q2021 (First Quarter 20210

		$ billlion)
Investment: Non Residential	$2,948.3
Exports		$2,305.3
PCE Goods		$5,183.5
Investment: Residential	$1,043.7
Government Expendiures Federal	$1,557.0
PCE Services	$9,857.7
Imports		$3,152.3
Governemnt Expenditures : State and local Goernent Expenditures	$2,395.9
Change in private inventories	-$90.1

2a. Compute the weights of each of PCE, GPDI, NX and GOV) in GDP

2b. Consider the following rates of change (%) for each of the above items.

	% change
PCE	10.70%
GPDI	-5.00%
NX	-6.80%
GOV	6.30%

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