Just E 4 The components of GDP (2020) in the accompanying table were produced by the BuEconomic Analysis.(15)CategoryConsumer spendingDurable goodsNondurable goodsServicesPrivate investment spendingFixed investment spendingNonresidential(billions of current dollars)$1,616.43,037.49,393.73,697.42,799.6597.2StructuresEquipmentIntellectual Property ProductsResidentialChange_1,123.9_1,078.5897.8-59.6inprivate inventoriesNet exports2,123.42,774.6ExportsImportsGovernment purchases of goods andservices and investment spendingFederalNational defenseNondefenseState and locala. Calculate consumer spending.1,501.8_881.3620.52,357.8b. Calculate private investment spending.c. Calculate net exports.d. Calculate government purchases of goods and services and investment spending.e. Calculate gross domestic product

Gross Domestic Product is calculated by adding consumer spending, private investment spending,…

4 The components of GDP (2020) in the accompanying table were produced by the Bu Economic Analysis. (15) Category Consumer spending Durable goods Nondurable goods Services Private investment spending Fixed investment spending (billions of current dollars)_ $1,616.4 3,037.4 9,393.7 3,697.4 2,799.6 597.2 Nonresidential Structures Equipment Intellectual Property Products Residential Change in private inventories Net exports Exports Imports Government purchases of goods and services and investment spending Federal National defense Nondefense State and local a. Calculate consumer spending. 1,123.9 _1,078.5 897.8 -59.6 2,123.4 2,774.6 1,501.8 881.3 620.5 2,357.8 b. Calculate private investment spending. c. Calculate net exports. d. Calculate government purchases of goods and services and investment spending. e. Calculate gross domestic product

4 The components of GDP (2020) in the accompanying table were produced by the Bu Economic Analysis. (15) Category Consumer spending Durable goods Nondurable goods Services Private investment spending Fixed investment spending (billions of current dollars)_ $1,616.4 3,037.4 9,393.7 3,697.4 2,799.6 597.2 Nonresidential Structures Equipment Intellectual Property Products Residential Change in private inventories Net exports Exports Imports Government purchases of goods and services and investment spending Federal National defense Nondefense State and local a. Calculate consumer spending. 1,123.9 _1,078.5 897.8 -59.6 2,123.4 2,774.6 1,501.8 881.3 620.5 2,357.8 b. Calculate private investment spending. c. Calculate net exports. d. Calculate government purchases of goods and services and investment spending. e. Calculate gross domestic product

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter9: Aggregate Expenditures

Section: Chapter Questions

Problem 7E

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