### Components of GDP in 2013 (in billions of dollars)**Consumer Spending:**- Durable Goods: $1,263.0- Nondurable Goods: $2,622.9- Services: $7,615.7**Private Investment Spending:**- Fixed Investment Spending: $2,564.0 - Nonresidential: $2,047.1 - Structures: $456.4 - Equipment and Intellectual Property Products: $1,590.7 - Residential: $516.9- Change in Private Inventories: $106.1**Net Exports:**- Exports: $2,259.9- Imports: $2,757.2**Government Purchases of Goods and Services and Investment Spending:**- Federal: $1,245.9 - National Defense: $770.7 - Nondefense: $475.1- State and Local: $1,879.6This table was produced by the Bureau of Economic Analysis and details the different components of the Gross Domestic Product (GDP) for the year 2013. It breaks down the spending into categories such as consumer spending, private investment, net exports, and government purchases, further detailing specific segments within these categories. d. Calculate 2013 government purchases of goods and services and government investment spending.e. Calculate 2013 gross domestic product.f. Calculate 2013 consumer spending on services as a percentage of total consumer spending.

Answered: d. Calculate 2013 government purchases…

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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d. Calculate 2013 government purchases of goods and services and government investment spending. e. Calculate 2013 gross domestic product. f. Calculate 2013 consumer spending on services as a percentage of total consumer spending.