Solve all parts.. --, Jse the relevant information below:Inventory investmentFixed investmentConsumer durablesConsumer nondurablesInterestIndirect business taxesGovernment wages and salariesGovernment purchases of goods andservicesImportsExportsConsumer semi-durablesProfitsConsumer services$ 50 billion120 billion420 billion275 billion140 billion45 billion300 billion110 billion80 billion40 billion185 billion320 billion600 billion1. Calculate Consumption, Investment, Government spending.2. Explain the expenditure method of calculating the GDP. How this method is different from the incomemethod of calculating the GDP?3. Use suitable method to calculate GDP and show your work.

Gross domestic product (GDP) is the standard degree of the value introduced created through the…

Exports Consumer semi-durables Profits Consumer services 1. Calculate Consumption, Investment, Government spending. 40 billion 185 billion 320 billion 600 billion 2. Explain the expenditure method of calculating the GDP. How this method is different from the income method of calculating the GDP? 3. Use suitable method to calculate GDP and show your work.

Exports Consumer semi-durables Profits Consumer services 1. Calculate Consumption, Investment, Government spending. 40 billion 185 billion 320 billion 600 billion 2. Explain the expenditure method of calculating the GDP. How this method is different from the income method of calculating the GDP? 3. Use suitable method to calculate GDP and show your work.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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