QUESTION 1 Use the following information to answer 1-2 U.S. 2015 and 2018 Expenditures ($ billions) 2015 2018 Personal consumption expenditures 12,280 14,000 Motor vehicles and parts 470 520 Food and beverages 920 1,000 Housing and utilities 2,260 2,570 Health care 2,060 2,350 Gross private domestic investment 3,220 3,630 Structures 570 630 Equipment 1,120 1,220 Intellectual property products 760 930 Residential 630 790 Net exports of goods and services -520 -640 Exports 2,270 2,510 Imports 2,790 3,150 Government Purchases 3,240 3,590 National defense 730 790 Total GDP in 2015 was about ________ billion A. $32,800 B. $18,220 C. $19,620 D. $14,580 E. $18,740
QUESTION 1 Use the following information to answer 1-2 U.S. 2015 and 2018 Expenditures ($ billions) 2015 2018 Personal consumption expenditures 12,280 14,000 Motor vehicles and parts 470 520 Food and beverages 920 1,000 Housing and utilities 2,260 2,570 Health care 2,060 2,350 Gross private domestic investment 3,220 3,630 Structures 570 630 Equipment 1,120 1,220 Intellectual property products 760 930 Residential 630 790 Net exports of goods and services -520 -640 Exports 2,270 2,510 Imports 2,790 3,150 Government Purchases 3,240 3,590 National defense 730 790 Total GDP in 2015 was about ________ billion A. $32,800 B. $18,220 C. $19,620 D. $14,580 E. $18,740
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
QUESTION 1
-
Use the following information to answer 1-2
U.S. 2015 and 2018 Expenditures ($ billions)
2015
2018
Personal consumption expenditures
12,280
14,000
Motor vehicles and parts
470
520
Food and beverages
920
1,000
Housing and utilities
2,260
2,570
Health care
2,060
2,350
Gross private domestic investment
3,220
3,630
Structures
570
630
Equipment
1,120
1,220
Intellectual property products
760
930
Residential
630
790
Net exports of goods and services
-520
-640
Exports
2,270
2,510
Imports
2,790
3,150
Government Purchases
3,240
3,590
National defense
730
790
Total
GDP in 2015 was about ________ billionA. $32,800
B. $18,220
C. $19,620
D. $14,580
E. $18,740
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education