1. Table 1 contains the data for Country A for year 2020.Table 1Household purchases of durable goods$1293Household purchases of nondurable goods$1717Household purchases of services$301Household purchases of new housing$704Purchases of capital equipment$310Inventory changes$374Purchases of new structures$611Depreciation$117Salaries of government workers$1422Government expenditures on public works$553Transfer paymentsS777Foreign purchases of domestically produced goods$88Domestic purchases of foreign goods$120Based on Table 1, identify the GDP and its component and compute the following:i)consumptionii)investmentii)government purchaseiv)net exportsv)GDP

Here we calculate the value of GDP and its components by using the given information so the…

Foreign purchases of domestically produced goods $88 Domestic purchases of foreign goods S120 Based on Table 1, identify the GDP and its component and compute the following: i) consumption ii) investment iii) government purchase iv) net exports v) GDP

Foreign purchases of domestically produced goods $88 Domestic purchases of foreign goods S120 Based on Table 1, identify the GDP and its component and compute the following: i) consumption ii) investment iii) government purchase iv) net exports v) GDP

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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