Use the following data to work Problems 16 and 17. The table lists some macroeconomic data for the United States in 2009. Item Billions of dollars Wages paid to labor 8,000 Consumption expenditure 10,000 Net operating surplus 3,400 Investment 1,500 Government expenditure 2,900 Net exports –340 Q no 16 Calculate U.S. GDP in 2009 Q no: 17 Explain the approach (expenditure or income) that you used to calculate GDP.
Use the following data to work Problems 16 and 17. The table lists some macroeconomic data for the United States in 2009. Item Billions of dollars Wages paid to labor 8,000 Consumption expenditure 10,000 Net operating surplus 3,400 Investment 1,500 Government expenditure 2,900 Net exports –340 Q no 16 Calculate U.S. GDP in 2009 Q no: 17 Explain the approach (expenditure or income) that you used to calculate GDP.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Use the following data to work Problems 16 and 17. The table lists some
the United States in 2009.
Item Billions of dollars
Wages paid to labor 8,000
Consumption expenditure 10,000
Net operating surplus 3,400
Investment 1,500
Government expenditure 2,900
Net exports –340
Q no 16 Calculate U.S.
Q no: 17 Explain the approach (expenditure or income) that you used to calculate GDP.
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