The table in the next column lists some national accounts data for the United States in 2019.

Question:

a. Calculate U.S. GDP in 2019. image text in transcribed

b. Explain the approach (expenditure or income)
you used to calculate GDP.

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Economics

ISBN: 9781292433639

14th Global Edition

Authors: Michael Parkin

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Question Posted: Jan 27, 2024 10:02 PM

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The table in the next column lists some national accounts data for the United States in 2019.

Question:

Item Wages Consumption expenditure Other factor incomes Investment Government expenditure Net exports Depreciation Billions of dollars 11,317 14,266 4,935 3,784 3,683 -634 3,402

Step by Step Answer:

To calculate the US GDP for 2019 we can use the expenditure approach which is one of the most common ...View the full answer

Economics

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