1. Create the table that contains the following information for the most recent quarter where data required for this exercise is available. Please note that using the data for previous years and/or previous estimates will produce grade zero for this part of the project. Omit the intermediate lines found in Tables 7 and 8 on the web site. ? Gross domestic product ? Gross national product ? Net national product (you should calculate it as Gross national product minus Consumption of fixed capital) ? National income ? Personal income ? Personal Disposable Income ? Personal Savings Present the information that you received in your project.

2.

1. What is the difference between gross domestic product (GDP) and gross national product (GNP)? What is the difference in what GDP measures compared to GNP? 2. Based on the table, what calculations must you make to determine GNP from GDP? 3. What is national income (NI)? What does NI measure? 4. Which was higher in this year, GNP or NI? By how much? 5. What calculations must you make to determine NI from GNP? 6. NI is composed of a number of categories. What category makes up the largest portion of NI? 7. What calculations must you make to determine Personal Income from National Income? 8. What calculations must you make to determine Personal Disposable Income and Personal Savings? 9. Please analyze and discuss the significance of the data that you received for this Data exercise. 10. Reflect on what you have learned from this exercise.

12:28 29 Final sales of domestic product 3.5 1.9 -5.9 -1.6 -1.3 1.6 11.1 5.1 4.7 2.3 0.6 1.4 1.0 2.6 2.7 2.8 29 30 Gross domestic purchases 2.7 0.9 -7.7 -1.0 0.0 2.9 13.4 5.7 6.1 4.7 2.7 1.6 0.5 0.7 1.5 2.7 30 ic purchasers 3.0 1.6 -6.1 -1.1 -0.2 2.9 12.5 6.1 5.3 3.4 1.5 1.3 0.8 1.5 1.8 2.5 31 14 of 17 domestic purchasers 2.7 1.0 -8.5 -1.8 -0.5 3.2 16.0 7.5 6.5 4.6 2.1 1.7 0.8 1.3 1.3 2.1 32 t 3.1 1.1 -7.9 -1.8 -1.4 1.3 11.8 4.4 5.2 3.1 1.9 1.8 0.7 1.7 2.2 ... 33 inal income 2.4 1.8 11.9 7.3 4.6 16.2 -2.5 -0.3 0.3 -12.6 -5.6 -3.5 -1.5 3.7 5.0 3.8 34 rice muexes. 35 Gross domestic purchases 0.7 1.3 1.6 2.4 4.1 4.7 5.8 6.7 7.3 7.0 6.2 5.0 3.4 2.9 35 36 Gross domestic purchases excluding food and energy 1.4 1.5 1.1 1.5 1.8 2.3 3.8 4.3 5 3 6.0 6.3 6.2 5.7 5.0 3.8 3.2 36 37 GDP 1.5 0.8 1.3 7 2.6 4. 5 5.1 7.2 6.4 5.3 3.5 3.2 37 38 GDP excluding food and energy 1.6 1.7 1.0 1.5 1.8 8 2.4 4. 0 4.6 5.5 6.2 6.5 6.4 5.9 5.3 4.1 3. 39 PCE 1.4 1.5 0.5 1.1 1 4.7 6.6 6.8 5 5.9 5.0 3.9 3.4 39 40 PCE excluding food and energy 1.5 1.6 0.9 1.3 1.4 1.9 3.6 4.0 4.9 5.5 5.2 5.2 5.1 4.8 4.6 3.9 40 41 Market-based PCE 1.3 1.4 0.6 1.1 1.0 1.7 3.4 4.0 5.3 6.3 6.8 6.7 6.0 5.0 3.7 3.1 41 42 Market-based PCE excluding food and energy 1.5 1.5 1.1 1.3 1.2 1.5 2.7 3.2 4.1 5.0 4.9 5.2 5.0 4.7 4.5 3.7 42 1. Gross domestic income deflated by the implicit price deflator for gross domestic product. 2. Food excludes personal consur meals and beverages, which are classified in food services. 3. This index is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most implicit prices (for examp le, financial services furnished without payment) and the final consu ion expenditures of nonprofit institutions serving households. Source: U.S. Bureau of Economic Analysis - 13 - October 26, 2023 Table 7. Relation of Gross Domestic Product, Gross National Product, and National Income [Billions of dollars] Seasonally adjusted at annual rates Line 2020 2021 2022 2022 2023 Line Q3 Q4 Q1 Q2 Q3 1 Gross domestic product (GDP) 21,323.0 23,594.0 25,744.1 25,994.6 26,408.4 26,813.6 27,063.0 27,623.5 2 Plus: Income receipts from the rest of the world 993.0 1,112.1 1,252.6 1,285.5 1,340.7 1,390.7 1,452.7 3 Less: Income payments to the rest of the world 1 928.6 1,070.7 1,094.3 1,155.2 1,231.8 1,279.7 4 Equals: Gross national product 21,537.8 23,777.6 25,926.0 26,185.9 26,594.0 26,972.5 27,236.1 .... IOC AW N 5 Less: Consumption of fixed capital 3,625.5 3,873.3 4,299.9 4,368.2 4,430.3 4,507.4 4,557.0 4,619.0 6 Less: Statistical discrepancy 58.2 -5.5 -52.3 -155.0 210.2 328.2 419.7 .. 7 Equals: National income 17,854.0 19,909.7 21,678.4 21,972.7 21,953.5 22,136.9 22,259.4 8 Compensation of employees 11,594.7 12,545.9 13,439.2 13,609.2 13,675.0 13,965.2 14,171.7 14,361.1 9 Wages and salaries 9,464.6 10,312.6 11,116.0 11,271.4 11,317.0 11,565.4 11,749.7 11,911.4 9 10 Supplements to wages and salaries 2,130.0 2,233.2 2,323.2 2,337.8 2,357.9 2,399.8 2,422.0 2,449.7 10 11 Proprietors' income with inventory valuation and capital consumption adjustments 1,583.8 1,749.1 1,790.9 1,807.4 1,825.3 1,827.4 1,824.1 1,845.8 11 12 Rental income of persons with capital consumption adjustment 756.1 814.2 878.3 893.1 907.5 945.8 961.1 974.5 12 13 Corporate profits with inventory valuation and capital consumption adjustments 2,383.3 2,922.8 3,208.7 3,299.3 3,248.4 3,165.1 3,172.1 13 14 Net interest and miscellaneous payments 529.3 504.6 457.4 438.3 3 360.7 307.8 212.4 136.8 14 15 Taxes on production and imports less subsidies 863.7 1,189.2 1,682.8 1,705.6 1,711.3 1,729.7 1,721.7 1,729.8 15 16 Business current transfer payments (net) 145.0 189.0 216.8 215.4 227.6 203.1 206.4 215.7 16 17 Current surplus of government enterprises -1.8 -5.0 4.4 4.5 -2.3 -7.1 -10.0 -11.1 17 Addenda: 18 Gross domestic income (GDI) 21,264.7 23,599.5 25,796.4 26,149.7 26,198.2 26,485.4 26,643.3 18 19 Average of GDP and GDI 21,293.8 23,596.8 25,770.3 26,072.2 26,303.3 26,649.5 26,853.2 20 Statistical discrepancy as a percentage of GDP 0.3 0.0 -0.2 -0.6 0.8 1.2 1.6 ...". Source: U.S. Bureau of Economic Analysis - 14 - October 26, 2023 Table 8. Personal Income and Its Disposition [Billions of dollars] Seasonally adjusted at annual rates Line 2020 2021 2022 2022 2023 Line Q3 Q4 Q1 Q2 Q3 bea.gov12:29 Source: U.S. Bureau of Economic Analysis 15 of 17 - 14 - October 26, 2023 Table 8. Personal Income and Its Disposition [Billions of dollars] Seasonally adjusted at annual rates Line 2020 2021 2022 2022 2023 Line Q3 Q1 Q2 Q3 1 Personal income 19,629.0 21,407.7 21,840.8 22,018.8 22,274.1 22,643.9 22,883.4 23,082.9 2 Compensation of employees 11,594.7 12,545.9 13,439.2 13,609.2 13,675.0 13,965.2 14,171.7 14,361.1 A W I Wages and salaries 9,464.6 10,312.6 11,116.0 11,271.4 11,317.0 11,565.4 11,749.7 11,911.4 Private industries 7,970.3 8,766.4 9,493.6 9,639.2 9,660.8 9,879.6 10,038.8 10,165.8 OUT A W N - Goods-producing industries 1,516.7 1,604.9 1,740.5 1,766.6 1,776.0 1,809.9 1,843.0 1,873.3 Manufacturing 905.5 961.6 1,034.8 1,051.7 1,050.4 1,067.2 1,086.5 1 Services-producing industries 6,453.6 7,161.4 7,753.1 7,872.6 7,884.8 8,069.7 8,195.8 8,292.5 Trade, transportation, and utilities 1,442.7 1,595.3 1,714.1 1,736.7 1,738.0 1,790.2 1,810.4 1, 9 Other services-producing industries 5,010.9 5,566.2 6,039.0 6,135.9 6,146.9 6,279.5 6,385.4 6,459.7 9 10 Government 1,494.3 1,546.3 1,622.5 1,632.2 1,656.2 1,685.8 1,710.9 1,745.6 10 11 Supplements to wages and salaries 2,130.0 2,233.2 2,323.2 2,337.8 2,357.9 2,399.8 2,422.0 2,449.7 11 12 Employer contributions for employee pension and insurance funds 1,471.5 1,526.8 1,559.1 1,562.2 1,579.6 1,598.8 1,609.7 1,627.3 12 13 Employer contributions for government social insurance 706.4 764.0 775.6 778.3 800.9 812.3 822.4 13 14 Proprietors' income with inventory valuation and capital consumption adjustments 1,583.8 1,749.1 1,790.9 1,807.4 1,825.3 1,827.4 1,824.1 1,845.8 14 15 Farm 44.4 72.2 81.7 84.0 84.0 71.2 58.2 53.4 15 16 Nonfarm 1,539.4 1,676.8 1,709.1 1,723.4 1,741.4 1,756.2 1,765.9 1,792.5 16 17 Rental income of persons with capital consumption adjustment 756.1 814.2 878.3 893.1 907.5 945.8 961.1 974.5 17 8 Personal income receipts on assets 2,913.7 3,214.7 3,432.0 3,453.4 3,525.4 3,577.0 3,602.6 3,624.3 18 19 Personal interest income 1,510.3 1,515.5 1,627.5 1,647.6 1,706.7 1,744.3 1,754.8 1,790.9 19 20 Personal dividend income 1,403.5 1,699.2 1,804.5 1,805.8 1,818.7 1,832.7 1,847.8 1,833.4 20 21 Personal current transfer receipts 4,229.9 4,641.9 4,002.1 3,981.8 4,073.7 4,102.4 4,120.1 4,093.8 21 22 Government social benefits to persons 4,182.7 4,554.1 3,903.0 3,882.9 3,974.9 4,001.5 4,017.3 3,987.9 22 23 Social security 1,077.9 1,114.6 1,211.5 1,214.5 1,225.8 1,340.0 1,353.8 1,361.4 23 24 Medicare 816.8 5926.1 927.2 934.2 938.1 941.9 946.3 24 25 Medicaid 736.5 814.4 819.0 828.4 871.5 911.4 882.7 25 26 Unemployment insurance 529.5 324.0 22.3 19.6 22.1 22.0 22.3 21.0 26 27 Veterans' benefits 145.4 154.1 170.5 172.7 173.7 172.9 172.6 172.8 27 28 Other 955.5 1,350.5 758.2 729.9 790.7 657.1 615.4 603.7 28 29 Other current transfer receipts, from business (net) 47.2 87.7 99.1 98.9 98.8 100.9 102.8 105.9 29 30 Less: Contributions for government social insurance, domestic 1,449.3 1,558.0 1,701.7 1,726.1 1,732.8 1,773.9 1,796.2 1,816.7 30 31 Less: Personal current taxes 2,256.5 2,743.3 3,138.3 3,137.0 3,095.7 2,763.7 2,706.7 2,810.3 31 32 Equals: Disposable personal income 17,372.5 18,664.4 18,702.5 18,881.7 19,178.4 19,880.2 20,176.7 20,272.6 32 33 Less: Personal outlays 14,694.0 16,543.9 18,079.7 18,269.1 18,556.0 18,932.0 19,136.6 19,495.7 33 34 Personal consumption expenditures 14,206.2 16,043.0 17,511.7 17,684.2 17,917.0 18,269.6 18,419.0 18,734.3 34 35 Goods 4,713.1 5,506.6 5,997.0 6,046.8 6,047.6 6,133.8 6,144.7 6,230.0 35 36 Durable goods 1,628.9 2,006.4 2,128.9 2,143.1 2,129.0 2,194.9 2,193.6 2,209.2 36 37 Nondurable goods 3,084.2 3,500.2 3,868.1 3,903.7 3,918.6 3,939.0 3,951.1 4,020.8 37 38 Services 9,493.1 10,536.3 11,514.7 11,637.4 11,869.4 12,135.7 12,274.4 12,504.3 38 39 Personal interest payments 285.8 273.6 326.1 342.4 395.3 419.8 474.7 515.2 39 Personal current transfer payments 202.0 227.3 241.8 242.5 243.7 242.6 242.9 246.2 40 41 To government 108.6 120.2 127.7 128.4 129.2 129.7 130.4 131.2 41 42 To the rest of the world (net) 93.3 107.1 114.1 114.1 114.4 112.9 112.5 115.0 42 43 Equals: Personal saving 2,678.6 2,120.5 622.8 612.6 622.4 948.2 1,040.1 776.9 43 44 Personal saving as a percentage of disposable personal income 15.4 11.4 3.3 3.2 3.2 4.8 5.2 3.8 44 Addenda: 45 Personal income excluding current transfer receipts billions of chained (2017) dollars 14,717.0 15,381.3 15,372.5 15,429.2 15,411.3 15,540.8 15,630.4 15,705.0 45 Disposable personal income 46 Total. billions of chained (2017) dollars 16,603.0 17,123.1 16,116.9 16,151.8 16,239.5 16,662.8 16,807.8 16,766.4 46 Per capita: 47 Current dollars 52,360 56,159 56,063 56,566 57,372 59,408 60,226 60,425 47 48 Chained (2017) dollars 50,041 51,521 48,313 48,388 48,580 49,793 50,170 49,974 48 49 Population (midperiod. thousands) 331,788 332,351 333,595 333,799 334,282 334,641 335,019 335,501 49 1. Personal income is also equal to national income less corporate profits with inventory valuation and capital consumption adjustments, taxes on production and imports less subsidies, contributions for government social insurance, net interest and miscellaneous payments, business current transfer payments (net), and current surplus of government en rises, plus personal income receipts on assets, and personal current transfer receipts. 2. Includes actual employer contributions and actuarially imputed er crued by defined benefit pensi participants through service to employers in the current period. 3. Social security benefits include old-age, survivors, and disab rance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 4. Medicare benefits include hospital and supplemer nefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 5. Consists of nonmortgage interest paid by househ se item in the calculation of rental income of persons. 6. The current-dollar meas eflated by the implicit price deflato 7. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. Source: U.S. Bureau of Economic Analysis - 15 - bea.gov