The following table provides data for an economy in a certa eConsumpticnexpenditureTmports1000600Government700purchases ofgoods andservicesConstruction500of new homesandaparchentaSales of600existinghomen andapertmentaExporta500Government200payments toretireesHouseholdpurchases ofdurablegoodsChange ininventory300100A Calculate the value of investment spendingB. What is the value of government spendingC. What is the value of consumer spendingD. What is the value of net exports spendingE Calculate the value of GDP according to the spending approach

A. Value of Investment spending = construction of new homes and apartments = 500 B. Government…

The following table provides data for an economy in a certa 1000 MOTaduneuos expenditure Teports 600 Government 700 parchases of goods and services Construction 500 of new homes and aparchenta Salen of existing homes and 600 apertmenta Exporta 500 Governnent payments o 200 retirees 300 Household purchases of durable goods 100 Change in inventory A Calculate the value of investment spending B What is the value of government spending C What is the value of consumer spending D. What is the value of net exports spending E Calculate the value of GDP according to the spending approach

The following table provides data for an economy in a certa 1000 MOTaduneuos expenditure Teports 600 Government 700 parchases of goods and services Construction 500 of new homes and aparchenta Salen of existing homes and 600 apertmenta Exporta 500 Governnent payments o 200 retirees 300 Household purchases of durable goods 100 Change in inventory A Calculate the value of investment spending B What is the value of government spending C What is the value of consumer spending D. What is the value of net exports spending E Calculate the value of GDP according to the spending approach

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

Question

The following table provides data for an economy in a certa e
Consumpticn
expenditure
Tmports
1000
600
Government
700
purchases of
goods and
services
Construction
500
of new homes
and
aparchenta
Sales of
600
existing
homen and
apertmenta
Exporta
500
Government
200
payments to
retirees
Household
purchases of
durable
goods
Change in
inventory
300
100
A Calculate the value of investment spending
B. What is the value of government spending
C. What is the value of consumer spending
D. What is the value of net exports spending
E Calculate the value of GDP according to the spending approach

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