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g. Calculate 2013 exports as a percentage of imports. h. Calculate 2013 government purchases on national defense as a percentage of federal government pur chases of goods and services.

g. Calculate 2013 exports as a percentage of imports. h. Calculate 2013 government purchases on national defense as a percentage of federal government pur chases of goods and services.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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g. Calculate 2013 exports as a percentage of imports. h. Calculate 2013 government purchases on national defense as a percentage of federal government pur- chases of goods and services.
Transcribed Image Text:g. Calculate 2013 exports as a percentage of imports. h. Calculate 2013 government purchases on national defense as a percentage of federal government pur- chases of goods and services.
The components of GDP in the accompanying table were produced by the Bureau of Economic Analysis. Components of GDP in 2013 (billions of dollars) Category 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 1,245.9 770.7 National defense 475.1 Nondefense 1,879.6 State and local
Transcribed Image Text:The components of GDP in the accompanying table were produced by the Bureau of Economic Analysis. Components of GDP in 2013 (billions of dollars) Category 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 1,245.9 770.7 National defense 475.1 Nondefense 1,879.6 State and local
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Government spending is one of the important part of aggregate spending in the economy. 

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