Consists of two parts.

Part 1: Expenditures Approach to Calculating GDP (weight 50% of the assignment grade)

Complete the following exercise

Visit the Bureau of Economic Analysis website at www.bea.gov. From the drop-down menu under "Data", click on "by Economics Account".

Then click on "National"> "Gross Domestic Product > and "Full Release and Tables". (To find "Full Release and Tables" you need to scroll down the page to the section "Current Release".

Use table 3 (Gross Domestic Product: Level and Change from Preceding Period). Tables are located at the end of the Release, so you need to scroll all the way down to the tables.

The left columns are nominal GDP (and its components) and the right half represents real GDP (chained 2012 dollars).

a)Create the tablethat containsthe following information for the last available quarter. Please note that using the data for previous quarters will produce grade zero for this part of the project.

You need this information from both parts of the table 3- (nominal GDP (and its components) from left columns and real GDP (chained 2012 dollars) from the right part of the table 3). Omit the intermediate lines found in Table 3 on the web site.

Gross domestic product

Personal consumption expenditures

Gross private domestic investment

Net exports of goods and services

Government consumption expenditures and gross investment

b) Calculate the percentage (the proportion) of each category in nominal GDP and in real GDP.

Using Nominal GDP:

[Personal consumption expenditures / Nominal GDP]*100%

[Gross private domestic investment / Nominal GDP]*100%

[Net exports of goods and services / Nominal GDP]*100%

[Government consumption expenditures and gross investment/ Nominal GDP]*100%

And using Real GDP:

[Personal consumption expenditures / Real GDP]*100%

[Gross private domestic investment / Real]*100%

[Net exports of goods and services / Real GDP]*100%

[Government consumption expenditures and gross investment/ Real GDP]*100%

I unable to calculate the percentage in question 2