Jse the data shown in the table below to answer the following three (3) questions: Year 2019 Macroeconomic Aggregate Nominal Value in $ billion Row 1 Household purchases of nondurable goods $375 Row 2 Government Purchases $1,200 Row 3 Gross Private Domestic Investment $700 Row 4 Exports Imports Depreciation Government payments to the unemployed Corporate Profits Household purchases durable goods Additions to Inventory Residential Purchases of New Homes $750 Household Purchases of Services $120 $250 $50 $25 Row 5 Row 6 Row 7 Row 8 $45 Row 9 $115 $345 Row 10 Row 11 Row 12 $180 Row 13 Firms purchases of new warehouses and structures $350 $345 Additions to Inventory Residential Purchases of New Homes $750 Row 10 Row 11 Row 12 Household Purchases of Services $180 Firms purchases of new warehouses and structures $350 Row 13 $900 Wages earned by construction workers Row 14 Row 15 Rent earned by owners of land $1,200 Row 16 Row 17 13. Based on the table above, what was the value of Consumption spending in 2019? a. $6,605 billion b. $2,320 billion c. $1,420 billion 8 d. $670 billion e. none of the above 14. Based on the table above, what was the value of Investment spending in 2019? a. $1,440 billion b. $1,465 billion c. $1,395 billion d. $2,145 billion e. none of the above 15. Based on the table above, what was the value of the US GDP in 2019? a. $4,205 billion b. $4,135 billion c. $3,885 billion d. $6,605 billion e. none of the above
Jse the data shown in the table below to answer the following three (3) questions: Year 2019 Macroeconomic Aggregate Nominal Value in $ billion Row 1 Household purchases of nondurable goods $375 Row 2 Government Purchases $1,200 Row 3 Gross Private Domestic Investment $700 Row 4 Exports Imports Depreciation Government payments to the unemployed Corporate Profits Household purchases durable goods Additions to Inventory Residential Purchases of New Homes $750 Household Purchases of Services $120 $250 $50 $25 Row 5 Row 6 Row 7 Row 8 $45 Row 9 $115 $345 Row 10 Row 11 Row 12 $180 Row 13 Firms purchases of new warehouses and structures $350 $345 Additions to Inventory Residential Purchases of New Homes $750 Row 10 Row 11 Row 12 Household Purchases of Services $180 Firms purchases of new warehouses and structures $350 Row 13 $900 Wages earned by construction workers Row 14 Row 15 Rent earned by owners of land $1,200 Row 16 Row 17 13. Based on the table above, what was the value of Consumption spending in 2019? a. $6,605 billion b. $2,320 billion c. $1,420 billion 8 d. $670 billion e. none of the above 14. Based on the table above, what was the value of Investment spending in 2019? a. $1,440 billion b. $1,465 billion c. $1,395 billion d. $2,145 billion e. none of the above 15. Based on the table above, what was the value of the US GDP in 2019? a. $4,205 billion b. $4,135 billion c. $3,885 billion d. $6,605 billion e. none of the above
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Transcribed Image Text:Use the data shown in the table below to answer the following three (3)
questions:
Year 2019 Macroeconomic Aggregate
Nominal Value in $
billion
Row 1
Household purchases of nondurable
goods
$375
Row 2
$1,200
$700
Government Purchases
Row 3
Gross Private Domestic Investment
Row 4
Exports
Imports
Depreciation
Government payments to the
unemployed
Corporate Profits
Household purchases durable goods
Additions to Inventory
Residential Purchases of New Homes
Household Purchases of Services
$120
$250
Row 5
Row 6
$50
$25
Row 7
Row 8
$45
Row 9
$115
$345
Row 10
Row 11
$750
$180
$350
Row 12
Row 13
Firms purchases of new warehouses
and structures
$345
Additions to Inventory
Residential Purchases of New Homes $750
Row 10
Row 11
Row 12
Household Purchases of Services
$180
Firms purchases of new warehouses
and structures
$350
Row 13
$900
Wages earned by construction
workers
Row 14
Row 15
Rent earned by owners of land
$1,200
Row 16
Row 17
13. Based on the table above, what was the value of Consumption spending in
2019?
a. $6,605 billion
b. $2,320 billion
c. $1,420 billion
d. $670 billion
e. none of the above
14. Based on the table above, what was the value of Investment spending in
2019?
a. $1,440 billion
b. $1,465 billion
c. $1,395 billion
d. $2,145 billion
e. none of the above
15. Based on the table above, what was the value of the US GDP in 2019?
a. $4,205 billion
b. $4,135 billion
c. $3,885 billion
d. $6,605 billion
e. none of the above
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