In the table below we see the components of GDP (in percent of GDP) for Germany. Government Exports Imports Spending Consumption Investment ??? 22.87 22.53 46.89 41.10 Source: theglobaleconomy.com (a) Calculate the percent of GDP in Germany due to consumption. (b) If you average consumption in the United States over the past 5 years (cf. slide 14 of lecture 2) “by eye," is consumption higher or lower in Germany? Briefly explain. (c) What do the acronyms FRED and BEA on slide 14 of lecture 2 stand for?

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1. In the table below we see the components of GDP (in percent of GDP) for Germany.
Government Exports Imports
Spending
Consumption Investment
???
22.87
22.53
46.89
41.10
Source: theglobaleconomy.com
(a) Calculate the percent of GDP in Germany due to consumption.
(b) If you average consumption in the United States over the past 5 years (cf. slide
14 of lecture 2) “by eye,"! is consumption higher or lower in Germany? Briefly
explain.
(c) What do the acronyms FRED and BEA on slide 14 of lecture 2 stand for?
Transcribed Image Text:1. In the table below we see the components of GDP (in percent of GDP) for Germany. Government Exports Imports Spending Consumption Investment ??? 22.87 22.53 46.89 41.10 Source: theglobaleconomy.com (a) Calculate the percent of GDP in Germany due to consumption. (b) If you average consumption in the United States over the past 5 years (cf. slide 14 of lecture 2) “by eye,"! is consumption higher or lower in Germany? Briefly explain. (c) What do the acronyms FRED and BEA on slide 14 of lecture 2 stand for?
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