TABLE 1 The following table represents the economic conditions in the tiny Pacific nation of Slippery Rock in 2017. Use this table to answer questions 1-3. All figures are in millions of Roxdollars. [18 pts] ITEM AMOUNT Consumption Expenditures for Services $100 Government purchases of goods and services $60 Таxes $30 Durable Goods Expenditures $52 Gross Investment $50 Social Security payments to retirees $20 Nondurable Goods Expenditures $48 Imports $20 Exports $10 (1) (A) How much is PCE? (B) How much is GDP? (C) How much is net exports? (D) Is there a trade deficit or trade surplus? (2) What percentage of GDP are these of these sectors? (А) РСЕ? (B) Business Investment? (C) (C) Government purchases?

TABLE 1 The following table represents the economic conditions in the tiny Pacific nation of Slippery Rock in 2017. Use this table to answer questions 1-3. All figures are in millions of Roxdollars. [18 pts] ITEM AMOUNT Consumption Expenditures for Services $100 Government purchases of goods and services $60 Таxes $30 Durable Goods Expenditures $52 Gross Investment $50 Social Security payments to retirees $20 Nondurable Goods Expenditures $48 Imports $20 Exports $10 (1) (A) How much is PCE? (B) How much is GDP? (C) How much is net exports? (D) Is there a trade deficit or trade surplus? (2) What percentage of GDP are these of these sectors? (А) РСЕ? (B) Business Investment? (C) (C) Government purchases?

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Production And Growth

Section: Chapter Questions

Problem 5CQQ

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