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Calculate GDP using the expenditures approach for year 1 and year 2. Explain your rationale with numbers. In other words, you must show the following;
Calculate GDP using the expenditures approach for year 1 and year 2. Explain your rationale with numbers. In other words, you must show the following; What is Personal Consumption Expenditures in year 1 and 2 What is Gross Private Domestic Investment in year 1 and 2 What is Government Purchases of Goods and Services in ear 1 and year 2 What is Net Exports in ear 1 and year 2 What is GDP in vear 1 and vear 2 In percentage terms, which of the 4 categories of spending changed more from year 1 to year 2. In other words, looking at the results from year 2, which of the categories experienced the highest percentage change. Explain your rationale with numbers. What was the percentage change in GDP? Explain your rationale with numbers. Use 2 decimal points. In your own words, explain why GDP is such an important metric that is used to understand the economic performance of nations. How does looking at GDP per capita help when comparing economic performance of different nations
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