Suppose the following information was published by the Australian Bureau of Statistics in 2017: Item Amount (AUD billion) Household consumption 5,029.81 Government consumption 20,340.92 Exports 1,386.39 Value of cocaine seized at Sydney Airport 20,500 Value of intermediate goods in tractor manufacturing 502,003 Gross private domestic investment 352.69
Suppose the following information was published by the Australian Bureau of Statistics in 2017: Item Amount (AUD billion) Household consumption 5,029.81 Government consumption 20,340.92 Exports 1,386.39 Value of cocaine seized at Sydney Airport 20,500 Value of intermediate goods in tractor manufacturing 502,003 Gross private domestic investment 352.69
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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- Suppose the following information was published by the Australian Bureau of Statistics in 2017:
Item |
Amount (AUD billion) |
Household consumption |
5,029.81 |
Government consumption |
20,340.92 |
Exports |
1,386.39 |
Value of cocaine seized at Sydney Airport |
20,500 |
Value of intermediate goods in tractor manufacturing |
502,003 |
Gross private domestic investment |
352.69 |
Imports |
386.95 |
Components used in the manufacture of cars |
40,000 |
Gifts |
15,236 |
Government investment |
88.19 |
Value of second-hand goods |
500.00 |
Value of banned endangered species elephant tasks seized at Melbourne Airport |
600.00 |
Use the information provided to calculate Australia’s
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