Question 22Table 2.1 GDP and its components, 2012Source: Bureau of Economic Analysis. Table 1.1.5,Note:Numbers may not add up to the totals due to rounding.Personal consumptionexpenditure (C)Consumer durablesNondurable goodsServicesInvestment (1)Fixed investmentInventory investmentResidential investmentGovernment purchases (G)FederalState and localNet exports (NX)ExportsMinus importsTotal = GDP (Y)www.bea.gownational/nipaweb/SelectTable.asp?Selected=YBillions of Dollars11,2861,2312,5957,4592,5002,018134693,1511,2751,875-5162,2142,73016,420Percent of GDP68.77.515.845.415.212.30.142.919.27.811.4-3.113.516.6100.0Assuming that the GDP breakdown shown in Table 2.1 is typical of a given year in the U.S. we can say thatgovernment purchases is the largest main component of GDPconsumption of durable goods is twice that of nondurableswe spend twice as much on goods consumption as we do on servicesall of the abovenone of the above

Question 22 Table 2.1 GDP and its components, 2012 Source: Bureau of Economic Analysis. Table 1.1.5. www.bea.gov/nationaVnipaweb/SelectTable.asp?Selected=Y Note:Numbers may not add up to the totals due to rounding. Billions of Dollars 11,286 Personal consumption expenditure (C) Consumer durables Nondurable goods Services Investment (1) Fixed investment Inventory investment Residential investment Government purchases (G) Federal State and local Net exports (NX) Exports Minus imports Total = GDP (Y) 1,231 2,595 7,459 2,500 2,018 13 469 3,151 1,275 1,875 -516 2,214 2,730 16,420 Percent of GDP 68.7 7.5 15.8 45.4 15.2 12.3 0.14 2.9 19.2 7.8 11.4 <-3.1 13.5 16.6 100.0 Assuming that the GDP breakdown shown in Table 2.1 is typical of a given year in the U.S. we can say that. government purchases is the largest main component of GDP O consumption of durable goods is twice that of nondurables we spend twice as much on goods consumption as we do on services all of the above none of the above

Question 22 Table 2.1 GDP and its components, 2012 Source: Bureau of Economic Analysis. Table 1.1.5. www.bea.gov/nationaVnipaweb/SelectTable.asp?Selected=Y Note:Numbers may not add up to the totals due to rounding. Billions of Dollars 11,286 Personal consumption expenditure (C) Consumer durables Nondurable goods Services Investment (1) Fixed investment Inventory investment Residential investment Government purchases (G) Federal State and local Net exports (NX) Exports Minus imports Total = GDP (Y) 1,231 2,595 7,459 2,500 2,018 13 469 3,151 1,275 1,875 -516 2,214 2,730 16,420 Percent of GDP 68.7 7.5 15.8 45.4 15.2 12.3 0.14 2.9 19.2 7.8 11.4 <-3.1 13.5 16.6 100.0 Assuming that the GDP breakdown shown in Table 2.1 is typical of a given year in the U.S. we can say that. government purchases is the largest main component of GDP O consumption of durable goods is twice that of nondurables we spend twice as much on goods consumption as we do on services all of the above none of the above

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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