4. Measuring GDPThe following table shows data on consumption, investments, exports, imports, and government expenditures for the United States in 2010, aspublished by the Bureau of Economic Analysis. All figures are in billions of dollars.Fill in the missing cells in the table to calculate GDP using the expenditure approach.Data(Billions of dollars)Consumption (C)10,215.7Investment (I)1,737.3Exports (X)1,844.4Imports (M)2,356.1Net Exports of Goods and ServicesGovernment Purchases (G)3,057.5Gross Domestic Product (GDP)

here we calculate the Net export and GDP by using the following table which are as follow-

Answered: The following table shows data on…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Similar questions

For the purpose of calculating GDP, investment is spending on a)capital equipment, inventories, and structures, excluding household purchases of new housing. b)capital equipment, inventories, and structures, including household purchases of new housing. c)stocks, bonds, and other financial assets. d)real estate and financial assets such as stocks and bonds.
1.
Which spending category of GDP does each of the following transactions count in? Please enter the letter C, I, G, NX, or N to represent consumption, investment, government spending, net exports, or none. The government paid a total of $30,000 in subsidies to people who had installed solar panels on their homes . Bill spent his $400 social security check on rent and food . Company X produces $5,000 of wine this year but they do not sell it . Your parents pay $8,000 for tuition to UCF . The government pays $1 million to people it hires to collect census data
The expenditure and value-added approaches to calculating GDP arrive at the same final number, but they reach that number in different ways. To illustrate, consider the possible effects of the following set of transactions on GDP:
Using the following information, calculate the GDP at Market Price Sales 2000 Intermediate consumption 500 Change in inventory 10 Production Tax 20 Production Subsidies 5
Please help
The table below contains data for country A for the year. Household purchases of durable goods Household purchases of nondurable goods Household purchases of services Household purchases of new housing Purchases of capital equipment Inventory changes Purchases of new structures Depreciation Salaries of government workers Government expenditures on public works Transfer payments Foreign purchases of domestically produced goods Domestic purchases of foreign goods What was country A's GDP? $1293 $1717 $301 $704 $310 $374 $611 $117 $1422 $553 $777 $88 $120
1
Q.01 a) Explain why the Income and Expenditure approach yield the same value for GDP. b) Examine the values for National Income (NI), Personal Income (PI), and Disposable Personal Income (DPI) on Template. Rank them in order from largest to smallest. Based on the information in the template, list and explain one or two items that are being added or subtracted as we move from NI to PI to DPI.
The following are national income account data for a hypothetical economy in billions of dollars: gross private domestic investment ($320), imports ($40), exports ($22), personal consumption expenditures ($2,460), and government purchases ($470). What is GDP in this economy?

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