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1. In the table below we see the components of GDP (in percent of GDP) for Sweden. Government Investment Spending Exports Imports 27.99 26.23 46.26
1. In the table below we see the components of GDP (in percent of GDP) for Sweden. Government Investment Spending Exports Imports 27.99 26.23 46.26 41.91 Source: theglobaleconomy.com (a) Calculate the percent of GDP in Sweden due to consumption. (b) If you average consumption as a percent of GDP in the United States over the past 5 years (cf. slide 14 of lecture 2) "by eye," is this consumption higher or lower in Sweden? Briefly explain. (c) What do the acronyms FRED and BEA on slide 14 of lecture 2 stand for
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