1. Based on this table, the Gross Domestic Product is $_______ billion. **National Income Data (in current prices) for 1992 III**- **Personal consumption expenditures:** 4,105.0 billion dollars- **Gross private domestic investment:** 776.9 billion dollars- **Government purchases of goods and services:** 1,122.5 billion dollars- **Exports:** 626.8 billion dollars- **Imports:** 664.2 billion dollars- **Capital consumption allowance (depreciation):** 697.3 billion dollars*Source: Survey of Current Business, Vol. 72, Number 10, (October 1992), p. 8, 10*This table provides an overview of the national income data in the U.S. in the third quarter of 1992. It includes expenditures and investments across various sectors and their financial valuations in billions of dollars.

Gross domestic product is the final combination of goods and services in a country. GDP is an…

NATIONAL INCOME DATA (in current prices) 1992 III Personal consumption expenditures Gross private domestic investment Government purchases of goods and services (in billions of dollars) 4,105.0 776.9 1,122.5 626.8 664.2 697.3 Exports Imports Capital consumption allowance (depreciation) Source: Survey of Current Business, Vol. 72, Number 10, (October 1992), p. 8, 10

NATIONAL INCOME DATA (in current prices) 1992 III Personal consumption expenditures Gross private domestic investment Government purchases of goods and services (in billions of dollars) 4,105.0 776.9 1,122.5 626.8 664.2 697.3 Exports Imports Capital consumption allowance (depreciation) Source: Survey of Current Business, Vol. 72, Number 10, (October 1992), p. 8, 10

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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