Item 2. Using the expenditure approach, calculate GDP using the following data (please do not just put a total but show what was added). Total Consumption Consumption of Durable Goods Consumption of Non Durable Goods Consumption of Services Total Investment Fixed Investment Government purchases of Goods & Services Government Transfer Payments Exports Imports GDP Equals Amount in dollars (billions) 9,000 1,600 2,800 3,200 4,500 1,000 5,300 450 700 9,600

Item 2. Using the expenditure approach, calculate GDP using the following data (please do not just put a total but show what was added). Total Consumption Consumption of Durable Goods Consumption of Non Durable Goods Consumption of Services Total Investment Fixed Investment Government purchases of Goods & Services Government Transfer Payments Exports Imports GDP Equals Amount in dollars (billions) 9,000 1,600 2,800 3,200 4,500 1,000 5,300 450 700 9,600

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter19: Measuring Economic Performance

Section: Chapter Questions

Problem 6P

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