The table below shows economic activity for a tiny country. Using the expenditure approach determine the following.ActivityTotal Value (dollars)600,000Families buy groceriesElectronics company sells HD projectors to households100,0005,000Personal trainer gives a Zumba classCustard stand sells pistachio ice cream2,000Police department buys new cars500,000300,000Mayor leads creation of a new budget for educationcompany builds a new factoryElevator-construction600,000Local businessperson purchases corn from Mexico400,000Sports-gear company sells hockey gloves to Canadian team200,000Bike store sells five used carbon-fiber bikes200,000Local stockbroker executes trades for clients2,000,000Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative signfront of those numbers.a. Consumption = $707000.b. Investment = $2600000.c. Government purchases = $ 800000d. Net exports $200000

The balance of trade, commercial balance, or net exports, is the difference between the monetary…

instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sig front of those numbers. a. Consumption = $707000 b. Investment = $2600000. c. Government purchases $ [800000 d. Net exports $200000.

instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sig front of those numbers. a. Consumption = $707000 b. Investment = $2600000. c. Government purchases $ [800000 d. Net exports $200000.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The table below shows economic activity for a tiny country. Using the expenditure approach determine the following.
Activity
Total Value (dollars)
600,000
Families buy groceries
Electronics company sells HD projectors to households
100,000
5,000
Personal trainer gives a Zumba class
Custard stand sells pistachio ice cream
2,000
Police department buys new cars
500,000
300,000
Mayor leads creation of a new budget for education
company builds a new factory
Elevator-construction
600,000
Local businessperson purchases corn from Mexico
400,000
Sports-gear company sells hockey gloves to Canadian team
200,000
Bike store sells five used carbon-fiber bikes
200,000
Local stockbroker executes trades for clients
2,000,000
Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign
front of those numbers.
a. Consumption = $707000.
b. Investment = $2600000.
c. Government purchases = $ 800000
d. Net exports $200000

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